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See the definitions of lar) Tj ET Q q 0 0 0 rg BT 196.43 621.50 Td (ge accelerated filer) Tj ET Q q 0 0 0 rg BT 256.95 621.50 Td (, accelerated filer) Tj ET Q q 0 0 0 rg BT 321.02 621.50 Td (, smaller reporting company and emer) Tj ET Q q 0 0 0 rg BT 456.81 621.50 Td (ging growth company in Rule ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 611.90 Td (12b-2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 123.70 611.90 Td (Act. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 589.00 Td (Lar) Tj ET Q q 0 0 0 rg BT 63.53 589.00 Td (geacceleratedfilers) Tj ET Q /GS0 gs q 7.13 0 0 7.81 133.50 587.04 cm /I17 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 151.50 589.00 Td (Acceleratedfilers) Tj ET Q /GS0 gs q 7.13 0 0 7.81 214.50 587.04 cm /I18 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.50 589.00 Td (Non-accelerated filers) Tj ET Q /GS0 gs q 7.13 0 0 7.81 309.50 587.04 cm /I19 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 327.50 589.00 Td (Smaller reporting companies) Tj ET Q /GS0 gs q 7.13 0 0 7.81 426.50 587.04 cm /I20 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.50 589.00 Td (Emer) Tj ET Q q 0 0 0 rg BT 461.68 589.00 Td (ging growth companies) Tj ET Q /GS0 gs q 7.13 0 0 7.81 543.50 587.04 cm /I21 Do Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 562.30 Td (If emer) Tj ET Q q 0 0 0 rg BT 72.67 562.30 Td (ging growth companies, indicate by check mark if the registrants have elected not to use the extended transition period for complying with any new or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 552.70 Td (revised financial accounting standards provided pursuant to Section 13\(a\) of the Exchange ) Tj ET Q q 0 0 0 rg BT 340.52 552.70 Td (Act.) Tj ET Q /GS0 gs q 7.13 0 0 8.27 358.07 550.97 cm /I22 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.20 552.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 533.50 Td (Indicate by check mark whether the registrants are shell companies \(as defined in Rule 12b-2 of the ) Tj ET Q q 0 0 0 rg BT 369.61 533.50 Td (Act\). ) Tj ET Q q 0 0 0 rg BT 387.53 533.50 Td (Y) Tj ET Q q 0 0 0 rg BT 392.50 533.50 Td (es ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 401.17 531.77 cm /I23 Do Q /GS0 gs q 8.00 0 0 8.27 408.30 531.77 cm /I24 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.30 533.50 Td (No ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 428.07 531.77 cm /I25 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 514.95 Td (The aggregate market value of the voting and non-voting common equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 505.35 Td (held by non-af) Tj ET Q q 0 0 0 rg BT 99.58 505.35 Td (filiates computed by reference to the price at which the) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 495.75 Td (common equity was last sold was $23.8 billion as of the last business day of) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 486.15 Td (the registrant) Tj ET Q q 0 0 0 rg BT 97.43 486.15 Td (s most recently completed second fiscal quarter) Tj ET Q q 0 0 0 rg BT 248.93 486.15 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.00 476.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.00 514.95 Td (The aggregate market value of the voting and non-voting common) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.00 505.35 Td (equity held by non-af) Tj ET Q q 0 0 0 rg BT 394.58 505.35 Td (filiates computed by reference to the price at) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.00 495.75 Td (which the common equity was last sold was $1) Tj ET Q q 0 0 0 rg BT 476.50 495.75 Td (1.5 billion as of the last) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.00 486.15 Td (business day of the registrant) Tj ET Q q 0 0 0 rg BT 421.76 486.15 Td (s most recently completed second fiscal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.00 476.55 Td (quarter) Tj ET Q q 0 0 0 rg BT 348.43 476.55 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 454.95 Td (At January 17, 2019, Carnival Corporation had outstanding 526,719,965) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 445.35 Td (shares of its Common Stock, $0.01 par value.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.00 424.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.00 454.95 Td (At January 17, 2019, Carnival plc had outstanding 191,875,647) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.00 445.35 Td (Ordinary Shares $1.66 par value, one Special ) Tj ET Q q 0 0 0 rg BT 472.70 445.35 Td (V) Tj ET Q q 0 0 0 rg BT 477.45 445.35 Td (oting Share GBP) Tj ET Q q 0 0 0 rg BT 531.37 445.35 Td ( 1.00) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.00 435.75 Td (par value and 526,719,965 ) Tj ET Q q 0 0 0 rg BT 412.95 435.75 Td (T) Tj ET Q q 0 0 0 rg BT 417.55 435.75 Td (rust Shares of beneficial interest in the) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.00 426.15 Td (P&O Princess Special ) Tj ET Q q 0 0 0 rg BT 398.52 426.15 Td (V) Tj ET Q q 0 0 0 rg BT 403.26 426.15 Td (oting ) Tj ET Q q 0 0 0 rg BT 421.56 426.15 Td (T) Tj ET Q q 0 0 0 rg BT 426.17 426.15 Td (rust.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 202.85 398.90 Td (DOCUMENTS INCORPORA) Tj ET Q q 0 0 0 rg BT 318.43 398.90 Td (TED BY) Tj ET Q q 0 0 0 rg BT 351.36 398.90 Td ( REFERENCE) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 377.30 Td (Portions of the ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 104.75 377.30 Td (2018) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.75 377.30 Td ( ) Tj ET Q q 0 0 0 rg BT 124.50 377.30 Td (Annual Report and ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 195.24 377.30 Td (2019) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 213.24 377.30 Td ( joint definitive Proxy Statement are incorporated by reference into Part II and Part III of this ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 366.50 Td (report.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 356 m 562 356 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 352 m 562 352 l s BT /F1 10.00 Tf ET endstream endobj 7 0 obj <><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 8 0 R>> endobj 8 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 224.35 728.25 Td (CARNIV) Tj ET Q q 0 0 0 rg BT 263.06 728.25 Td (AL) Tj ET Q q 0 0 0 rg BT 276.40 728.25 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 328.71 728.25 Td (TION & PLC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.90 716.25 Td (FORM 10-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 180.95 704.25 Td (FOR ) Tj ET Q q 0 0 0 rg BT 204.38 704.25 Td (THE FISCAL) Tj ET Q q 0 0 0 rg BT 264.12 704.25 Td ( ) Tj ET Q q 0 0 0 rg BT 266.25 704.25 Td (YEAR ENDED NOVEMBER 30, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.98 704.25 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.98 704.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 252.65 680.25 Td (T) Tj ET Q q 0 0 0 rg BT 258.58 680.25 Td (ABLE OF) Tj ET Q q 0 0 0 rg BT 301.82 680.25 Td ( CONTENTS) Tj ET Q 1 1 1 rg /GS0 gs 104.00 627.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 612.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 597.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 582.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 567.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 552.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 537.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 522.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 507.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 492.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 477.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 462.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 447.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 432.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 417.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 402.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 387.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 372.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 357.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 342.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 327.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 312.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 297.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 282.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 267.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 252.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 237.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 222.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 207.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 192.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 177.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 162.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 147.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 132.75 432.00 -15.00 re f /GS0 gs 1 1 1 rg /GS0 gs 104.00 117.75 432.00 -15.00 re f /GS0 gs BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 632.43 Td (P) Tj ET Q q 0 0 0 rg BT 58.24 632.43 Td (AR) Tj ET Q q 0 0 0 rg BT 72.13 632.43 Td (T) Tj ET Q q 0 0 0 rg BT 78.54 632.43 Td ( I) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 617.43 Td (Item 1.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 106.50 617.42 Td (Business) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 124.50 602.42 Td (A. Overview) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 587.42 Td (I. Summary) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 572.42 Td (II. ) Tj ET Q q 0 0 1 rg BT 159.98 572.42 Td (V) Tj ET Q q 0 0 1 rg BT 166.60 572.42 Td (ision, Goals and Related Strategies) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 124.50 557.42 Td (B. Global Cruise Industry) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 542.42 Td (I. Overview) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 527.42 Td (II. Favorable Characteristics of the Global Cruise Industry) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 512.42 Td (III. Passenger Capacity and Cruise Guests Carried by Ocean Going ) Tj ET Q q 0 0 1 rg BT 419.63 512.42 Td (V) Tj ET Q q 0 0 1 rg BT 425.75 512.42 Td (essels) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 124.50 497.42 Td (C. Our Global Cruise Business) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 482.42 Td (I. Segment Information) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 467.42 Td (II. Ships Under Contract for Construction) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 452.42 Td (III. Cruise Brands) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 437.42 Td (IV) Tj ET Q q 0 0 1 rg BT 157.76 437.42 Td (. Principal Source Geographic ) Tj ET Q q 0 0 1 rg BT 280.23 437.42 Td (Areas) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 422.42 Td (V) Tj ET Q q 0 0 1 rg BT 154.43 422.42 Td (. Cruise Programs) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 407.42 Td (VI. Cruise Pricing and Payment ) Tj ET Q q 0 0 1 rg BT 278.30 407.42 Td (T) Tj ET Q q 0 0 1 rg BT 283.71 407.42 Td (erms) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 392.42 Td (VII. Seasonality) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 377.42 Td (VIII. Onboard and Other Revenues) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 289.29 377.42 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 362.42 Td (IX. Marketing ) Tj ET Q q 0 0 1 rg BT 207.66 362.42 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 246.54 362.42 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 347.42 Td (X. Sales Relationships) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 238.77 347.42 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 332.42 Td (XI. Sustainability) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 219.05 332.42 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 317.42 Td (XII. Employees) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 302.42 Td (XIII. ) Tj ET Q q 0 0 1 rg BT 170.53 302.42 Td (T) Tj ET Q q 0 0 1 rg BT 176.29 302.42 Td (raining) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 204.61 302.42 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 287.42 Td (XIV) Tj ET Q q 0 0 1 rg BT 164.98 287.42 Td (. Information ) Tj ET Q q 0 0 1 rg BT 220.07 287.42 Td (T) Tj ET Q q 0 0 1 rg BT 225.48 287.42 Td (echnology) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 272.42 Td (XV) Tj ET Q q 0 0 1 rg BT 161.65 272.42 Td (. Innovation) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 257.42 Td (XVI. Supply Chain) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 242.42 Td (XVII. Insurance) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 213.47 242.42 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 227.42 Td (XVIII. Port Destinations and Private Islands) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 212.42 Td (XIX. Governmental Regulations) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 197.42 Td (XX. ) Tj ET Q q 0 0 1 rg BT 167.76 197.42 Td (T) Tj ET Q q 0 0 1 rg BT 173.17 197.42 Td (axation) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 182.42 Td (XXI. ) Tj ET Q q 0 0 1 rg BT 171.09 182.42 Td (T) Tj ET Q q 0 0 1 rg BT 176.85 182.42 Td (rademarks and Other Intellectual Property) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 148.50 167.42 Td (XXII. Competition) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 118.50 152.42 Td (D. ) Tj ET Q q 0 0 1 rg BT 130.54 152.42 Td (W) Tj ET Q q 0 0 1 rg BT 139.18 152.42 Td (ebsite ) Tj ET Q q 0 0 1 rg BT 164.45 152.42 Td (Access to Carnival Corporation & plc SEC Reports) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 118.50 137.42 Td (E. Industry and Market Data) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 122.43 Td (Item 1A.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 106.50 122.42 Td (Risk Factors) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 107.43 Td (Item 1B.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 106.50 107.42 Td (Unresolved Staf) Tj ET Q q 0 0 1 rg BT 171.03 107.42 Td (f Comments) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 554.5 616.0833984375 m 559.5 616.0833984375 l s q 0 0 1 rg BT 554.50 617.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 554.5 601.0833984375 m 559.5 601.0833984375 l s q 0 0 1 rg BT 554.50 602.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 554.5 586.0833984375 m 559.5 586.0833984375 l s q 0 0 1 rg BT 554.50 587.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 554.5 571.0833984375 m 559.5 571.0833984375 l s q 0 0 1 rg BT 554.50 572.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 554.5 556.0833984375 m 559.5 556.0833984375 l s q 0 0 1 rg BT 554.50 557.42 Td (6) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 554.5 541.0833984375 m 559.5 541.0833984375 l s q 0 0 1 rg BT 554.50 542.42 Td (6) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 554.5 526.0833984375 m 559.5 526.0833984375 l s q 0 0 1 rg BT 554.50 527.42 Td (6) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 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Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 106.50 367.17 Td (Form 10-K Summary) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 351.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 549.5 733.8333984375 m 559.5 733.8333984375 l s q 0 0 1 rg BT 549.50 735.17 Td (34) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 549.5 718.8333984375 m 559.5 718.8333984375 l s q 0 0 1 rg BT 549.50 720.17 Td (34) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 549.5 703.8333984375 m 559.5 703.8333984375 l s q 0 0 1 rg BT 549.50 705.17 Td (34) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr 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0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 549.5 590.8333984375 m 559.5 590.8333984375 l s q 0 0 1 rg BT 549.50 592.17 Td (37) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 549.5 575.8333984375 m 559.5 575.8333984375 l s q 0 0 1 rg BT 549.50 577.17 Td (37) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 549.5 560.8333984375 m 559.5 560.8333984375 l s q 0 0 1 rg BT 549.50 562.17 Td (37) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 549.5 545.8333984375 m 559.5 545.8333984375 l s q 0 0 1 rg BT 549.50 547.17 Td (38) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 549.5 530.8333984375 m 559.5 530.8333984375 l s q 0 0 1 rg BT 549.50 532.17 Td (38) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 549.5 485.8333984375 m 559.5 485.8333984375 l s q 0 0 1 rg BT 549.50 487.17 Td (38) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 549.5 470.8333984375 m 559.5 470.8333984375 l s q 0 0 1 rg BT 549.50 472.17 Td (39) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 549.5 455.8333984375 m 559.5 455.8333984375 l s q 0 0 1 rg BT 549.50 457.17 Td (39) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 549.5 440.8333984375 m 559.5 440.8333984375 l s q 0 0 1 rg BT 549.50 442.17 Td (40) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 549.5 425.8333984375 m 559.5 425.8333984375 l s q 0 0 1 rg BT 549.50 427.17 Td (40) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 549.5 380.8333984375 m 559.5 380.8333984375 l s q 0 0 1 rg BT 549.50 382.17 Td (40) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 549.5 365.8333984375 m 559.5 365.8333984375 l s q 0 0 1 rg BT 549.50 367.17 Td (46) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.40 728.25 Td (DOCUMENTS INCORPORA) Tj ET Q q 0 0 0 rg BT 319.83 728.25 Td (TED BY) Tj ET Q q 0 0 0 rg BT 356.41 728.25 Td ( REFERENCE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (The information described below and contained in the Registrants) Tj ET Q q 0 0 0 rg BT 315.90 704.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.40 704.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.40 704.25 Td ( ) Tj ET Q q 0 0 0 rg BT 340.35 704.25 Td (Annual Report to shareholders to be furnished to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.25 Td (U.S. Securities and Exchange Commission pursuant to Rule 14a-3\(b\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 438.03 692.25 Td (Act of 1934 is shown in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.25 Td (Exhibit 13 and is incorporated by reference into this joint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.11 680.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.11 680.25 Td ( ) Tj ET Q q 0 0 0 rg BT 303.05 680.25 Td (Annual Report on Form 10-K \(Form 10-K\).) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 654.68505859375 m 186.1357421875 654.68505859375 l s q 0 0 0 rg BT 49.50 656.25 Td (Part and Item of the Form 10-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 632.25 Td (Part II) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 608.25 Td (Item 5. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 94.5 606.9169921875 m 551.345703125 606.9169921875 l s q 0 0 0 rg BT 94.50 608.25 Td (Market for Registrants) Tj ET Q q 0 0 0 rg BT 187.62 608.25 Td ( Common Equity) Tj ET Q q 0 0 0 rg BT 255.86 608.25 Td (, Related Stockholder Matters and Issuer Purchases of Equity Securities - ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 594.9169921875 m 265.8134765625 594.9169921875 l s q 0 0 0 rg BT 49.50 596.25 Td (Market Information, Holders and Performance Graph.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 572.25 Td (Item 6. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 94.5 570.9169921875 m 189.4609375 570.9169921875 l s q 0 0 0 rg BT 94.50 572.25 Td (Selected Financial Data) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.46 572.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 548.25 Td (Item 7.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.49 548.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 94.5 546.9169921875 m 452.791015625 546.9169921875 l s q 0 0 0 rg BT 94.50 548.25 Td (Management) Tj ET Q q 0 0 0 rg BT 149.48 548.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 218.65 548.25 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.79 548.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 524.25 Td (Item 7A. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 94.5 522.9169921875 m 336.12109375 522.9169921875 l s q 0 0 0 rg BT 94.50 524.25 Td (Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 0 rg BT 258.90 524.25 Td (About Market Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.12 524.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (Item 8. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 94.5 498.9169921875 m 279.451171875 498.9169921875 l s q 0 0 0 rg BT 94.50 500.25 Td (Financial Statements and Supplementary Data) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.45 500.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.25 Td (Portions of the Registrants) Tj ET Q q 0 0 0 rg BT 158.47 476.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.97 476.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.97 476.25 Td ( joint definitive Proxy Statement, to be filed with the U.S. Securities and Exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.25 Td (Commission, are incorporated by reference into this Form 10-K under the items described below) Tj ET Q q 0 0 0 rg BT 435.97 464.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 438.68505859375 m 186.1357421875 438.68505859375 l s q 0 0 0 rg BT 49.50 440.25 Td (Part and Item of the Form 10-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 416.25 Td (Part III) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 392.25 Td (Item 10.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.49 392.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 94.5 390.9169921875 m 321.9951171875 390.9169921875 l s q 0 0 0 rg BT 94.50 392.25 Td (Directors, Executive Of) Tj ET Q q 0 0 0 rg BT 189.56 392.25 Td (ficers and Corporate Governance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.00 392.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 368.25 Td (Item 1) Tj ET Q q 0 0 0 rg BT 76.44 368.25 Td (1.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.94 368.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 94.5 366.9169921875 m 194.75390625 366.9169921875 l s q 0 0 0 rg BT 94.50 368.25 Td (Executive Compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.75 368.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 344.25 Td (Item 12.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.49 344.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 94.5 342.9169921875 m 499.65625 342.9169921875 l s q 0 0 0 rg BT 94.50 344.25 Td (Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.66 344.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 320.25 Td (Item 13.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.49 320.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 94.5 318.9169921875 m 397.1953125 318.9169921875 l s q 0 0 0 rg BT 94.50 320.25 Td (Certain Relationships and Related ) Tj ET Q q 0 0 0 rg BT 233.18 320.25 Td (T) Tj ET Q q 0 0 0 rg BT 238.93 320.25 Td (ransactions, and Director Independence) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.20 320.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 296.25 Td (Item 14.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.49 296.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 94.5 294.9169921875 m 252.791015625 294.9169921875 l s q 0 0 0 rg BT 94.50 296.25 Td (Principal ) Tj ET Q q 0 0 0 rg BT 132.55 296.25 Td (Accountant Fees and Services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.79 296.25 Td (.) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.80 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 295.17 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 309.26 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 315.75 742.25 Td ( I) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 718.25 Td (Item 1. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 84.490234375 716.68505859375 m 121.1748046875 716.68505859375 l s q 0 0 0 rg BT 84.49 718.25 Td (Business) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 121.17 718.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 694.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.95 694.25 Td (A. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 71.169921875 692.68505859375 m 112.263671875 692.68505859375 l s q 0 0 0 rg BT 71.17 694.25 Td (Overview) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 112.26 694.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.50 670.25 Td (I. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 76.5 668.68505859375 m 118.7216796875 668.68505859375 l s q 0 0 0 rg BT 76.50 670.25 Td (Summary) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 118.72 670.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 646.25 Td (Carnival Corporation was incorporated in Panama in 1972 and Carnival plc was incorporated in England and ) Tj ET Q q 0 0 0 rg BT 488.09 646.25 Td (W) Tj ET Q q 0 0 0 rg BT 496.73 646.25 Td (ales in 2000. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 634.25 Td (Carnival Corporation and Carnival plc operate a dual listed company \(DLC\), whereby the businesses of Carnival Corporation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 622.25 Td (and Carnival plc are combined through a number of contracts and through provisions in Carnival Corporation) Tj ET Q q 0 0 0 rg BT 490.78 622.25 Td (s ) Tj ET Q q 0 0 0 rg BT 496.62 622.25 Td (Articles of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 610.25 Td (Incorporation and By-Laws and Carnival plc) Tj ET Q q 0 0 0 rg BT 231.39 610.25 Td (s ) Tj ET Q q 0 0 0 rg BT 237.23 610.25 Td (Articles of ) Tj ET Q q 0 0 0 rg BT 281.66 610.25 Td (Association. ) Tj ET Q q 0 0 0 rg BT 333.70 610.25 Td (The two companies operate as if they are a single ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 598.25 Td (economic enterprise with a single senior executive management team and identical Boards of Directors \(BODs\), but each has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 586.25 Td (retained its separate legal identity) Tj ET Q q 0 0 0 rg BT 183.24 586.25 Td (. Carnival Corporation and Carnival plc are both public companies with separate stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 574.25 Td (exchange listings and their own shareholders. ) Tj ET Q q 0 0 0 rg BT 233.99 574.25 Td (T) Tj ET Q q 0 0 0 rg BT 239.40 574.25 Td (ogether with their consolidated subsidiaries, Carnival Corporation and Carnival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 562.25 Td (plc are referred to collectively in this) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.21 562.25 Td ( Form 10-K ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.93 562.25 Td (as Carnival Corporation & plc, our) Tj ET Q q 0 0 0 rg BT 399.26 562.25 Td (, us and we.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.94 562.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 538.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 538.25 Td (e are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.78 538.25 Td (the world) Tj ET Q q 0 0 0 rg BT 120.61 538.25 Td (s lar) Tj ET Q q 0 0 0 rg BT 137.37 538.25 Td (gest leisure travel company and among the most profitable and financially strong in the cruise and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 526.25 Td (vacation industries.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.26 526.25 Td ( ) Tj ET Q q 0 0 0 rg BT 129.58 526.25 Td (W) Tj ET Q q 0 0 0 rg BT 138.22 526.25 Td (e are also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.47 526.25 Td (the lar) Tj ET Q q 0 0 0 rg BT 203.55 526.25 Td (gest cruise company) Tj ET Q q 0 0 0 rg BT 284.54 526.25 Td (, carrying nearly half of global cruise guests, and a leading provider ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 514.25 Td (of vacations to all major cruise destinations throughout the world. ) Tj ET Q q 0 0 0 rg BT 315.10 514.25 Td (W) Tj ET Q q 0 0 0 rg BT 324.13 514.25 Td (ith operations in North ) Tj ET Q q 0 0 0 rg BT 416.90 514.25 Td (America, ) Tj ET Q q 0 0 0 rg BT 455.77 514.25 Td (Australia, Europe and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 502.25 Td (Asia,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.33 502.25 Td ( we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.99 502.25 Td (operate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.41 502.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.91 502.25 Td (a portfolio of leading global, regional and national cruise brands that sell tailored cruise products, services and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 490.25 Td (vacation experiences on 104 cruise ships to the world) Tj ET Q q 0 0 0 rg BT 266.11 490.25 Td (s most desirable destinations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.31 490.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.50 466.25 Td (II. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 81.00 466.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 83.40966796875 464.68505859375 m 238.2265625 464.68505859375 l s q 0 0 0 rg BT 83.32 466.25 Td (V) Tj ET Q q 0 0 0 rg BT 90.17 466.25 Td (ision, Goals and Related Strategies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 238.23 466.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.73 466.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 442.25 Td (Our vision is T) Tj ET Q q 0 0 0 rg BT 113.52 442.25 Td (ogether we deliver unmatched joyful vacation experiences and breakthrough shareholder returns by exceeding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 430.25 Td (guest expectations and leveraging our scale. ) Tj ET Q q 0 0 0 rg BT 232.30 430.25 Td (W) Tj ET Q q 0 0 0 rg BT 240.94 430.25 Td (e believe our portfolio of brands is instrumental to achieving our vision and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 418.25 Td (maintaining our cruise industry leadership positions.Our primary financial goals are to profitably grow our cruise business and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 406.25 Td (increase our return on invested capital, while maintaining our strong investment grade credit ratings and balance sheet. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 394.25 Td (Paramount to the success of our business is our commitment to health, environment, safety) Tj ET Q q 0 0 0 rg BT 412.39 394.25 Td (, security \(HESS\) and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (sustainability) Tj ET Q q 0 0 0 rg BT 102.18 382.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.68 382.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 358.25 Td (T) Tj ET Q q 0 0 0 rg BT 54.91 358.25 Td (o reach our primary financial goals, we continue to implement initiatives to create additional demand for our brands in excess ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 346.25 Td (of measured capacity growth, ultimately leading to higher revenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.62 346.25 Td (. ) Tj ET Q q 0 0 0 rg BT 346.44 346.25 Td (W) Tj ET Q q 0 0 0 rg BT 355.08 346.25 Td (e will continue to identify opportunities to enhance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 334.25 Td (our cruise products and services and optimize our cost structure while preserving the unique identities of our individual brands. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 322.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 322.25 Td (e have made significant investments in performing customer segmentation analyses and data analytics to gain insight into our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 310.25 Td (guests) Tj ET Q q 0 0 0 rg BT 77.09 310.25 Td ( decision-making process and vacation needs enabling us to identify new marketing opportunities and further grow our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 298.25 Td (share of their vacation spend. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.90 298.25 Td (As we operate in the broader vacation market, we have implemented strategies to grow demand ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 286.25 Td (by increasing consumer awareness and consideration for cruise vacations on our portfolio of brands through our ongoing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 274.25 Td (marketing, public relations and guest experience ef) Tj ET Q q 0 0 0 rg BT 253.41 274.25 Td (forts.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 262.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 250.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 250.25 Td (e continue to identify and implement new strategies and tactics to strengthen our cruise ticket revenue management processes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 238.25 Td (and systems across our portfolio of brands, such as optimizing our pricing methodologies and improving our pricing models, as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 226.25 Td (evidenced by our new state-of-the-art revenue management system implemented across six brands in 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.25 226.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.57 226.25 Td (W) Tj ET Q q 0 0 0 rg BT 489.21 226.25 Td (e also continue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 214.25 Td (with initiatives to better coordinate and optimize our brands) Tj ET Q q 0 0 0 rg BT 291.47 214.25 Td ( global itinerary strategies, maximizing guest satisfaction and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 202.25 Td (profits. ) Tj ET Q q 0 0 0 rg BT 80.43 202.25 Td (W) Tj ET Q q 0 0 0 rg BT 89.07 202.25 Td (e have invested in new marketing technologies to further engage our guests by bringing to life the cruise experience.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 178.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 178.25 Td (e are building new) Tj ET Q q 0 0 0 rg BT 131.63 178.25 Td (, innovative, purpose-built ships that are lar) Tj ET Q q 0 0 0 rg BT 305.30 178.25 Td (ger) Tj ET Q q 0 0 0 rg BT 317.66 178.25 Td (, more fuel ef) Tj ET Q q 0 0 0 rg BT 371.35 178.25 Td (ficient, have an improved mix of guest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 166.25 Td (accommodations and present a wider range of onboard amenities and features. ) Tj ET Q q 0 0 0 rg BT 365.31 166.25 Td (These ships further enhance the attractiveness of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 154.25 Td (a cruise vacation while achieving greater economies of scale and improving returns on invested capital. ) Tj ET Q q 0 0 0 rg BT 464.91 154.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.35 154.25 Td (November30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 142.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 142.25 Td (, we have a total of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.08 142.25 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.08 142.25 Td ( cruise ships scheduled to be delivered) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.92 142.25 Td ( through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.03 142.25 Td (2025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.03 142.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.03 142.25 Td (Some of these ships will replace existing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 130.25 Td (capacity as less ef) Tj ET Q q 0 0 0 rg BT 121.23 130.25 Td (ficient ships exit our fleet.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.92 130.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.42 130.25 Td (Since 2006, we have sold 28 ships and our newbuild program has been designed to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 118.25 Td (consider an expected acceleration in our fleet replacement cycle over time. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.01 118.25 Td (Furthermore, we continue to make substantial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 106.25 Td (investments in our existing ship enhancement programs to improve our onboard product of) Tj ET Q q 0 0 0 rg BT 413.13 106.25 Td (ferings and enrich our guests) Tj ET Q q 0 0 0 rg BT 531.24 106.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 94.25 Td (vacation experiences. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.06 94.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 70.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 70.25 Td (e continue to grow our presence in established markets and increase our penetration in developing markets, such as ) Tj ET Q q 0 0 0 rg BT 520.49 70.25 Td (Asia. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.64 70.25 Td (W) Tj ET Q q 0 0 0 rg BT 552.28 70.25 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 58.25 Td (believe that our most significant long-term growth opportunity in ) Tj ET Q q 0 0 0 rg BT 312.51 58.25 Td (Asia is in China, due to its lar) Tj ET Q q 0 0 0 rg BT 431.21 58.25 Td (ge and growing middle-class ) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (population, expansion of its international tourism and the government) Tj ET Q q 0 0 0 rg BT 331.39 740.10 Td (s plan to support the cruise industry) Tj ET Q q 0 0 0 rg BT 473.50 740.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.00 740.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.50 740.10 Td (During 2019, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (expect that 4.0% of our total capacity will be home ported in China.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.54 704.10 Td (ith 104 ships and 12.4 million guests in 2018, we have the scale to optimize our structure by utilizing our combined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (purchasing volumes and common technologies as well as accelerating progress on our cross-brand initiatives aimed at cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (containment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.43 680.10 Td ( ) Tj ET Q q 0 0 0 rg BT 103.75 680.10 Td (W) Tj ET Q q 0 0 0 rg BT 112.39 680.10 Td (e have and continue to integrate certain back of) Tj ET Q q 0 0 0 rg BT 301.56 680.10 Td (fice functions to achieve the full benefits of our scale. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.98 680.10 Td (Having ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (global leaders in communications, innovation, maritime, procurement, revenue management and strategy supports collaboration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (and communication across our brands and helps coordinate our global ef) Tj ET Q q 0 0 0 rg BT 339.79 656.10 Td (forts.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (Our ability to generate significant operating cash flow allows us to internally fund our capital improvements, debt maturities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (and dividend payments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.76 620.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.26 620.10 Td (In 2018, we increased our quarterly dividend to $0.50 per share, representing over $1.4 billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (annual dividends, from $0.40 per share in 2017. Since resuming our stock repurchase program in late 2015, we repurchased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.10 Td (approximately 87 million shares for $4.6 billion. Over the same time period, we have nearly doubled our quarterly dividend, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.10 Td (distributing a total of $3.8 billion in dividends to our shareholders.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td (Our vision is based on four key pillars:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.31 560.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 538.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 538.10 Td (Health, environment, safety) Tj ET Q q 0 0 0 rg BT 195.92 538.10 Td (, security and sustainability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.35 538.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 526.10 Td (Guests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.72 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 514.10 Td (Employees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.93 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 502.10 Td (Shareholders and other stakeholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.18 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 478.7669921875 m 276.0283203125 478.7669921875 l s q 0 0 0 rg BT 49.50 480.10 Td (Health, Environment, Safety) Tj ET Q q 0 0 0 rg BT 163.26 480.10 Td (, Security and Sustainability) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 456.10 Td (Our commitment to the safety and comfort of our guests and crew is paramount to the success of our business. ) Tj ET Q q 0 0 0 rg BT 493.38 456.10 Td (W) Tj ET Q q 0 0 0 rg BT 502.02 456.10 Td (e are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 444.10 Td (committed to operating a safe and reliable fleet and protecting the health, safety and security of our guests, employees and all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 432.10 Td (others working on our behalf. ) Tj ET Q q 0 0 0 rg BT 170.40 432.10 Td (W) Tj ET Q q 0 0 0 rg BT 179.04 432.10 Td (e continue to focus on further enhancing the safety measures onboard all of our ships. ) Tj ET Q q 0 0 0 rg BT 523.76 432.10 Td (W) Tj ET Q q 0 0 0 rg BT 532.40 432.10 Td (e are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 420.10 Td (dedicated to fully complying with, or exceeding, all legal and statutory requirements related to health, environment, safety) Tj ET Q q 0 0 0 rg BT 538.14 420.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 408.10 Td (security and sustainability throughout our business.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 384.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 384.10 Td (e are committing resources across the entire corporation to further improve how we operate to protect and preserve our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 372.10 Td (oceans and are implementing fleet-wide changes and enhancements to our environmental processes and procedures. ) Tj ET Q q 0 0 0 rg BT 515.53 372.10 Td (W) Tj ET Q q 0 0 0 rg BT 524.17 372.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 360.10 Td (continue to increase the scope and frequency of our training and invest millions of dollars to upgrade our equipment to new ship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 348.10 Td (standards to ensure compliance with all environmental regulations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.20 348.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 322.7669921875 m 76.7216796875 322.7669921875 l s q 0 0 0 rg BT 49.50 324.10 Td (Guests) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 300.10 Td (Our goal is to consistently exceed our guests) Tj ET Q q 0 0 0 rg BT 230.66 300.10 Td ( expectations while providing them with a wide variety of exceptional vacation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 288.10 Td (experiences.) Tj ET Q q 0 0 0 rg BT 101.51 288.10 Td (W) Tj ET Q q 0 0 0 rg BT 110.15 288.10 Td (e believe that we can achieve this goal by continually focusing our ef) Tj ET Q q 0 0 0 rg BT 386.54 288.10 Td (forts on helping our guests choose the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 276.10 Td (cruise brand that will best meet their unique needs and desires, improving their overall vacation experiences and building state-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 264.10 Td (of-the-art ships with innovative onboard of) Tj ET Q q 0 0 0 rg BT 221.22 264.10 Td (ferings and providing unequaled service to our guests. ) Tj ET Q q 0 0 0 rg BT 440.15 264.10 Td (W) Tj ET Q q 0 0 0 rg BT 448.79 264.10 Td (e enhance our guest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 252.10 Td (experience by of) Tj ET Q q 0 0 0 rg BT 115.95 252.10 Td (fering high quality destinations around the world including a portfolio of private destinations that are uniquely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 240.10 Td (tailored to our guests) Tj ET Q q 0 0 0 rg BT 136.24 240.10 Td ( preferences.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.31 240.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 214.76699218750002 m 93.93359375 214.76699218750002 l s q 0 0 0 rg BT 49.50 216.10 Td (Employees) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 192.10 Td (Our goal is to recruit, develop and retain the finest employees. ) Tj ET Q q 0 0 0 rg BT 300.81 192.10 Td (A) Tj ET Q q 0 0 0 rg BT 307.48 192.10 Td ( team of highly motivated and engaged employees is key to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 180.10 Td (delivering vacation experiences that exceed our guests) Tj ET Q q 0 0 0 rg BT 269.77 180.10 Td ( expectations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.75 180.10 Td ( Understanding the critical skills that are needed for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 168.10 Td (outstanding performance is crucial in order to hire and train our of) Tj ET Q q 0 0 0 rg BT 314.50 168.10 Td (ficers, crew and shoreside personnel. ) Tj ET Q q 0 0 0 rg BT 464.54 168.10 Td (W) Tj ET Q q 0 0 0 rg BT 473.18 168.10 Td (e believe in listening ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 156.10 Td (to and acting upon our employees) Tj ET Q q 0 0 0 rg BT 187.33 156.10 Td ( perspectives and ideas and use employee feedback tools to monitor and improve our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 144.10 Td (progress in this area. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.57 144.10 Td (W) Tj ET Q q 0 0 0 rg BT 143.21 144.10 Td (e are a diverse or) Tj ET Q q 0 0 0 rg BT 211.32 144.10 Td (ganization and value and support our talented and diverse employee base. ) Tj ET Q q 0 0 0 rg BT 508.26 144.10 Td (W) Tj ET Q q 0 0 0 rg BT 516.90 144.10 Td (e are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 132.10 Td (committed to employing people from around the world and hiring them based on the quality of their experience, skills, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 120.10 Td (education and character) Tj ET Q q 0 0 0 rg BT 144.04 120.10 Td (, without regard for their identification with any group or classification of people.) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (6) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 726.7669921875 m 198.0693359375 726.7669921875 l s q 0 0 0 rg BT 49.50 728.10 Td (Shareholders and Other Stakeholders) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 704.10 Td (e value the relationships we have with our shareholders and other stakeholders, including travel agents, trade associations, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (communities, regulatory bodies, media, creditors, insurers, shipbuilders, governments and suppliers. ) Tj ET Q q 0 0 0 rg BT 452.85 692.10 Td (W) Tj ET Q q 0 0 0 rg BT 461.49 692.10 Td (e believe that engaging ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (stakeholders in a mutually beneficial manner is critical to our long-term success. ) Tj ET Q q 0 0 0 rg BT 373.57 680.10 Td (As part of this ef) Tj ET Q q 0 0 0 rg BT 440.59 680.10 Td (fort, we believe we must ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (continue to be an outstanding corporate citizen in the communities in which we operate. Our brands work to meet or exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (their economic, environmental, ethical and legal responsibilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.03 656.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (Strong relationships with our travel agent partners are especially vital to our success. ) Tj ET Q q 0 0 0 rg BT 390.89 632.10 Td (W) Tj ET Q q 0 0 0 rg BT 399.52 632.10 Td (e continue to strengthen our relationship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (with the travel agent community by increasing our communication and outreach, implementing changes based on their feedback ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (and improving our educational programs to assist agents in stimulating cruise demand.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 587.10 Td (B. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 66.169921875 585.53505859375 m 165.6328125 585.53505859375 l s q 0 0 0 rg BT 66.17 587.10 Td (Global Cruise Industry) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 563.10 Td ( ) Tj ET Q q 0 0 0 rg BT 67.50 563.10 Td (I. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 78.8916015625 561.53505859375 m 119.9853515625 561.53505859375 l s q 0 0 0 rg BT 78.89 563.10 Td (Overview) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 539.10 Td (Cruising of) Tj ET Q q 0 0 0 rg BT 94.60 539.10 Td (fers a broad range of products and services to suit vacationing guests of many ages, backgrounds and interests. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 527.10 Td (Cruise brands can be broadly classified as of) Tj ET Q q 0 0 0 rg BT 227.87 527.10 Td (fering contemporary) Tj ET Q q 0 0 0 rg BT 309.13 527.10 Td (, premium and luxury cruise experiences. ) Tj ET Q q 0 0 0 rg BT 476.67 527.10 Td (The contemporary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 515.10 Td (experience typically includes cruises that last seven days or less and have a more casual ambiance. ) Tj ET Q q 0 0 0 rg BT 446.11 515.10 Td (The premium experience ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 503.10 Td (typically includes cruises that last from seven to 14 days and appeal to those who are more af) Tj ET Q q 0 0 0 rg BT 422.26 503.10 Td (fluent. Premium cruises emphasize ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 491.10 Td (quality) Tj ET Q q 0 0 0 rg BT 76.62 491.10 Td (, comfort, style and more destination-focused itineraries. ) Tj ET Q q 0 0 0 rg BT 305.26 491.10 Td (The luxury experience is usually characterized by very high ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 479.10 Td (standards of accommodation and service, smaller vessel size and exotic itineraries to ports that are inaccessible to lar) Tj ET Q q 0 0 0 rg BT 516.93 479.10 Td (ger ships. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 467.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 467.10 Td (e have product and service of) Tj ET Q q 0 0 0 rg BT 175.40 467.10 Td (ferings in each of these three broad classifications.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 443.10 Td ( ) Tj ET Q q 0 0 0 rg BT 67.50 443.10 Td (II. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 82.783203125 441.53505859375 m 322.20703125 441.53505859375 l s q 0 0 0 rg BT 82.78 443.10 Td (Favorable Characteristics of the Global Cruise Industry) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 419.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 419.10 Td (a. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 103.5 417.53505859375 m 231 417.53505859375 l s q 0 0 0 rg BT 103.50 419.10 Td (High Guest Satisfaction Rates) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 395.10 Td (Cruise guests tend to rate their overall satisfaction with a cruise vacation higher than comparable land-based hotel and resort ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 383.10 Td (vacations.) Tj ET Q q 0 0 0 rg BT 91.71 383.10 Td (According to industry surveys, the cruise experience consistently exceeds expectations of repeat and first-time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 371.10 Td (cruisers. Cruising continues to receive high guest satisfaction rates because of the unique vacation experiences it of) Tj ET Q q 0 0 0 rg BT 510.00 371.10 Td (fers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 359.10 Td (including visiting multiple destinations without having to pack and unpack, all-inclusive product of) Tj ET Q q 0 0 0 rg BT 446.75 359.10 Td (ferings and state-of-the-art ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 347.10 Td (cruise ships with entertainment, relaxation and fun, all at an outstanding value. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.91 347.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 323.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 323.10 Td (b. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 103.5 321.53505859375 m 207.396484375 321.53505859375 l s q 0 0 0 rg BT 103.50 323.10 Td (Positive Demand ) Tj ET Q q 0 0 0 rg BT 177.76 323.10 Td (T) Tj ET Q q 0 0 0 rg BT 183.69 323.10 Td (r) Tj ET Q q 0 0 0 rg BT 187.94 323.10 Td (ends) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 311.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 299.10 Td (Social media has a powerful impact on consumer behavior) Tj ET Q q 0 0 0 rg BT 283.32 299.10 Td (. ) Tj ET Q q 0 0 0 rg BT 288.14 299.10 Td (T) Tj ET Q q 0 0 0 rg BT 293.55 299.10 Td (echnology allows people to instantly share travel experiences ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 287.10 Td (within their social networks. Seeing others embrace travel and experience the world in new ways inspires people to travel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 275.10 Td (themselves. Consumers are looking to experiences and learning for personal fulfillment. ) Tj ET Q q 0 0 0 rg BT 404.50 275.10 Td (T) Tj ET Q q 0 0 0 rg BT 409.91 275.10 Td (oday) Tj ET Q q 0 0 0 rg BT 432.12 275.10 Td (s travelers are looking for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 263.10 Td (immersive, meaningful and memorable travel experiences. ) Tj ET Q q 0 0 0 rg BT 286.45 263.10 Td (While it is useful for the cruise industry to consider travel markets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 251.10 Td (across demographic groups, the ability to identify and address tar) Tj ET Q q 0 0 0 rg BT 310.36 251.10 Td (get markets based on psychographics or attitudes that cut ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 239.10 Td (across demographics is even more meaningful. ) Tj ET Q q 0 0 0 rg BT 239.54 239.10 Td (W) Tj ET Q q 0 0 0 rg BT 248.18 239.10 Td (e believe the cruise industry is well positioned to meet travelers) Tj ET Q q 0 0 0 rg BT 505.13 239.10 Td ( desires and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 227.10 Td (has the ability to tailor experiences for each guest based on their unique wants and needs, which should foster growth for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 215.10 Td (cruise industry) Tj ET Q q 0 0 0 rg BT 108.01 215.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.51 215.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 191.10 Td (From a demographic perspective, two age groups, the Baby Boomers and the Millennial generations, have in recent years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 179.10 Td (experienced trends that positively af) Tj ET Q q 0 0 0 rg BT 194.27 179.10 Td (fect demand for cruising. Cruising benefits from the aging of the Baby Boomer and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 167.10 Td (Millennial generations. In North ) Tj ET Q q 0 0 0 rg BT 180.86 167.10 Td (America alone, the number of Baby Boomers at retirement age increases from 48 million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 155.10 Td (2015 to 56 million in 2020 and 74 million by 2030. ) Tj ET Q q 0 0 0 rg BT 257.10 155.10 Td (The Baby Boomer generation likes to pursue an active lifestyle and has the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 143.10 Td (desire and the means to travel and enjoys multi-generational cruising. ) Tj ET Q q 0 0 0 rg BT 330.07 143.10 Td (The Millennial generation has surpassed the size of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 131.10 Td (Baby Boomer generation and represents the fastest growing demographic segment of the vacation industry) Tj ET Q q 0 0 0 rg BT 475.67 131.10 Td (. ) Tj ET Q q 0 0 0 rg BT 480.49 131.10 Td (This group ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 119.10 Td (expresses a strong desire to travel and share new experiences, a mindset that should continue to foster growth for the industry) Tj ET Q q 0 0 0 rg BT 550.65 119.10 Td (. ) Tj ET Q q 0 0 0 rg BT 555.10 119.10 Td (A) Tj ET Q q 0 0 0 rg BT 561.77 119.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 107.10 Td (recent study by the ) Tj ET Q q 0 0 0 rg BT 127.26 107.10 Td (American Society of ) Tj ET Q q 0 0 0 rg BT 212.33 107.10 Td (T) Tj ET Q q 0 0 0 rg BT 218.08 107.10 Td (ravel ) Tj ET Q q 0 0 0 rg BT 240.02 107.10 Td (Agents \(AST) Tj ET Q q 0 0 0 rg BT 296.71 107.10 Td (A\) indicates that the Millennial generation is even more likely to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 95.10 Td (cruise and more likely to enjoy cruises than the Baby Boomer generation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.36 95.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 71.10 Td (These changes in consumer behavior and demographics, along with growing populations, increasing wealth in developing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 59.10 Td (countries and increased spending by consumers on experience versus products, will continue to drive demand for travel and the ) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (global cruise industry) Tj ET Q q 0 0 0 rg BT 135.50 740.10 Td (. ) Tj ET Q q 0 0 0 rg BT 140.32 740.10 Td (These groups of consumers are becoming eager to experience the world through travel, which provides ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (significant growth opportunity for the cruise industry within and beyond the established markets. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.98 728.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 704.10 Td (c. ) Tj ET Q q 0 0 0 rg BT 103.50 704.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 105.90966796875 702.53505859375 m 160.9267578125 702.53505859375 l s q 0 0 0 rg BT 105.82 704.10 Td (W) Tj ET Q q 0 0 0 rg BT 115.64 704.10 Td (ide ) Tj ET Q q 0 0 0 rg BT 130.37 704.10 Td (Appeal) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (Cruising appeals to a broad range of ages and income levels. Cruising provides something for every generation, from kids) Tj ET Q q 0 0 0 rg BT 539.74 680.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (clubs to an array of onboard entertainment designed to appeal to teens and adults. Cruising also of) Tj ET Q q 0 0 0 rg BT 441.71 668.10 Td (fers transportation to a variety ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (of destinations and a diverse range of ship types and sizes, as well as price points, to attract guests with varying tastes and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.10 Td (income levels. ) Tj ET Q q 0 0 0 rg BT 109.58 644.10 Td (T) Tj ET Q q 0 0 0 rg BT 114.99 644.10 Td (o encourage first-time and repeat cruisers and better compete with other vacation alternatives the cruise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (industry has in recent years refocused its marketing ef) Tj ET Q q 0 0 0 rg BT 265.35 632.10 Td (forts, enhanced training of travel agents and collaborated with well-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (known brands and of) Tj ET Q q 0 0 0 rg BT 133.47 620.10 Td (fers the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.34 620.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 600.17 Td ( ) Tj ET Q q 0 0 0 rg BT 89.00 600.17 Td (Expanded entertainment options and shipboard ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 590.17 Td (activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.00 600.17 Td ( ) Tj ET Q q 0 0 0 rg BT 355.00 600.17 Td (Enhanced internet and communication ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.00 590.17 Td (capabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 576.17 Td ( ) Tj ET Q q 0 0 0 rg BT 89.00 576.17 Td (Flexible dining options including open-seating dining) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.00 576.17 Td ( ) Tj ET Q q 0 0 0 rg BT 355.00 576.17 Td (Beverage package options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 562.17 Td ( ) Tj ET Q q 0 0 0 rg BT 89.00 562.17 Td (Branded specialty restaurants, bars and cafs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.00 562.17 Td ( ) Tj ET Q q 0 0 0 rg BT 355.00 562.17 Td (Money-back guarantees) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 534.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 534.10 Td (d. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 103.5 532.53505859375 m 222.1962890625 532.53505859375 l s q 0 0 0 rg BT 103.50 534.10 Td (Large ) Tj ET Q q 0 0 0 rg BT 131.00 534.10 Td (Addr) Tj ET Q q 0 0 0 rg BT 153.60 534.10 Td (essable Markets) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.10 Td (The global cruise industry is a relatively small part of the wider global vacation industry) Tj ET Q q 0 0 0 rg BT 402.09 510.10 Td (, which includes a lar) Tj ET Q q 0 0 0 rg BT 487.16 510.10 Td (ge variety of land-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 498.10 Td (based vacation alternatives. ) Tj ET Q q 0 0 0 rg BT 162.05 498.10 Td (Therefore, we believe there are lar) Tj ET Q q 0 0 0 rg BT 299.55 498.10 Td (ge, addressable markets with low penetration rates. ) Tj ET Q q 0 0 0 rg BT 506.25 498.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.10 Td (penetration rates below were computed based on the 2017 global cruise guests carried from G.P) Tj ET Q q 0 0 0 rg BT 431.88 486.10 Td (. ) Tj ET Q q 0 0 0 rg BT 436.70 486.10 Td (W) Tj ET Q q 0 0 0 rg BT 445.74 486.10 Td (ild \(International Limited\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.10 Td (\(G.P) Tj ET Q q 0 0 0 rg BT 71.44 474.10 Td (. ) Tj ET Q q 0 0 0 rg BT 76.26 474.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.30 474.10 Td (ild\), an independent cruise research company) Tj ET Q q 0 0 0 rg BT 270.13 474.10 Td (, as a percentage of total population:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.35 474.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 450.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 450.10 Td (5.1% for ) Tj ET Q q 0 0 0 rg BT 122.44 450.10 Td (Australia and New Zealand) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.12 450.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 438.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 438.10 Td (3.5% for the United States \(U.S.\) and Canada) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.55 438.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 426.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 426.10 Td (2.9% for the United Kingdom \(UK\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.68 426.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 414.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 414.10 Td (2.1% for Germany and Italy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.96 414.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 390.10 Td (e also believe ) Tj ET Q q 0 0 0 rg BT 114.50 390.10 Td (Asia is a lar) Tj ET Q q 0 0 0 rg BT 161.81 390.10 Td (ge addressable market, where economic growth has raised discretionary income levels, fueling an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.10 Td (increasing demand for travel. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.17 378.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 354.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 354.10 Td (e. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 103.5 352.53505859375 m 232.2255859375 352.53505859375 l s q 0 0 0 rg BT 103.50 354.10 Td (Exceptional ) Tj ET Q q 0 0 0 rg BT 156.38 354.10 Td (V) Tj ET Q q 0 0 0 rg BT 162.68 354.10 Td (alue Pr) Tj ET Q q 0 0 0 rg BT 193.32 354.10 Td (oposition) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.23 354.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 234.73 354.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 330.10 Td (e believe the cost of a cruise vacation represents exceptional value in comparison to alternative land-based vacations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.10 Td (Cruising delivers unique benefits, such as transportation to various destinations while also providing accommodations, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.10 Td (diversity of food choices and a selection of daily entertainment options for one all-inclusive, competitive price. ) Tj ET Q q 0 0 0 rg BT 495.85 306.10 Td (T) Tj ET Q q 0 0 0 rg BT 501.26 306.10 Td (o make ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.10 Td (cruising even more cost ef) Tj ET Q q 0 0 0 rg BT 154.84 294.10 Td (fective and more easily accessible to vacationers, the cruise industry typically of) Tj ET Q q 0 0 0 rg BT 476.20 294.10 Td (fers a number of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.10 Td (drive-to home ports, which enables many cruise guests to reduce their overall vacation costs by eliminating or reducing air and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.10 Td (other transportation costs. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.59 270.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 246.10 Td (f. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 103.5 244.53505859375002 m 162.1279296875 244.53505859375002 l s q 0 0 0 rg BT 103.50 246.10 Td (Ship Mobility) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.10 Td (The mobility of cruise ships enables cruise companies to move their vessels between regions in order to maximize profitability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.10 Td (and to meet changing demand. For example, brands can change itineraries over time in order to cater to our guests) Tj ET Q q 0 0 0 rg BT 508.88 210.10 Td ( tastes or as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.10 Td (general economic or geopolitical conditions warrant. In addition, cruise companies have the flexibility to reposition capacity to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.10 Td (areas with growing demand. ) Tj ET Q q 0 0 0 rg BT 165.12 186.10 Td (W) Tj ET Q q 0 0 0 rg BT 173.76 186.10 Td (e believe that this unique ability to move ships provides the cruise industry with a competitive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.10 Td (advantage compared to other land-based vacation alternatives.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.56 174.10 Td ( ) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 740.25 Td (III. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 84.6748046875 738.68505859375 m 388.6640625 738.68505859375 l s q 0 0 0 rg BT 84.67 740.25 Td (Passenger) Tj ET Q q 0 0 0 rg BT 127.26 740.25 Td ( Capacity and Cruise Guests Carried by Ocean Going ) Tj ET Q q 0 0 0 rg BT 359.03 740.25 Td (V) Tj ET Q q 0 0 0 rg BT 365.33 740.25 Td (essels) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 677.95 106.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 156.00 677.95 101.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 677.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 677.95 101.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 677.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 677.95 96.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 677.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 677.95 97.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 649.95 106.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 156.00 649.95 101.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 649.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 649.95 101.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 649.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 649.95 96.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 649.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 649.95 97.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 156 700.95 m 257 700.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257 700.95 m 261 700.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 700.95 m 362 700.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 700.95 m 462 700.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462 700.95 m 466 700.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 700.95 m 563 700.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 156 677.95 m 257 677.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 677.95 m 362 677.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 677.95 m 462 677.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 677.95 m 563 677.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 677.95 m 462 677.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 677.95 m 563 677.95 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 705.66 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.05 705.63 Td (A) Tj ET Q q 0 0 0 rg BT 197.90 705.63 Td (verage Passenger) Tj ET Q q 0 0 0 rg BT 271.02 705.63 Td ( Capacity \(a\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.95 705.63 Td (Cruise Guests Carried) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52.5 680.11259765625 m 72.39990234375 680.11259765625 l s q 0 0 0 rg BT 52.50 681.68 Td (Y) Tj ET Q q 0 0 0 rg BT 58.61 681.68 Td (ear) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.30 691.68 Td ( Global) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 160.85 681.68 Td ( Cruise Industry \(b\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.85 691.68 Td ( Carnival) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.75 681.68 Td ( Corporation & plc) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.80 691.68 Td ( Global) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.90 681.68 Td ( Cruise Industry \(c\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.85 691.68 Td ( Carnival) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.75 681.68 Td ( Corporation & plc) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 668.52 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.50 668.52 Td (470) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.50 668.52 Td (220) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 668.52 Td (25,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.00 668.52 Td (1) Tj ET Q q 0 0 0 rg BT 537.00 668.52 Td (1,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 654.52 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.50 654.52 Td (490) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.50 654.52 Td (230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 654.52 Td (26,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.00 654.52 Td (12,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 640.52 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.50 640.52 Td (520) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.50 640.52 Td (230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 640.52 Td (28,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.00 640.52 Td (12,400) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 612.45 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 612.45 Td (In accordance with cruise industry practice, passenger capacity is calculated based on the assumption of two passengers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 600.45 Td (per cabin even though some cabins can accommodate three or more passengers. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.32 600.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 588.45 Td (\(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 588.45 Td (Amounts were based on internal estimates using public industry data.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.22 588.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 576.45 Td (\(c\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 576.45 Td (The global cruise guests carried for 2016 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.77 576.45 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.77 576.45 Td ( were obtained from G.P) Tj ET Q q 0 0 0 rg BT 377.25 576.45 Td (. ) Tj ET Q q 0 0 0 rg BT 382.07 576.45 Td (W) Tj ET Q q 0 0 0 rg BT 391.10 576.45 Td (ild, an independent cruise research ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 564.45 Td (company) Tj ET Q q 0 0 0 rg BT 112.51 564.45 Td (. ) Tj ET Q q 0 0 0 rg BT 117.33 564.45 Td (The estimates for global cruise guests carried for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.03 564.45 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.03 564.45 Td ( are internally developed.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.65 564.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 540.45 Td (The global cruise industry and our compound annual passenger capacity growth rates are estimated to be 6.7% and 5.6%, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 528.45 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.16 528.45 Td (, from 2018 to 2022. Our estimates of future passenger capacity only include assumptions related to announced ship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 516.45 Td (withdrawals and, accordingly) Tj ET Q q 0 0 0 rg BT 166.87 516.45 Td (, our estimates likely indicate a higher growth rate than will actually occur) Tj ET Q q 0 0 0 rg BT 463.71 516.45 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.21 516.45 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 492.45 Td (C. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 66.7216796875 490.88505859375 m 185.73046875 490.88505859375 l s q 0 0 0 rg BT 66.72 492.45 Td (Our) Tj ET Q q 0 0 0 rg BT 84.32 492.45 Td ( Global Cruise Business) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 185.73 492.45 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.50 468.45 Td (I. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 73.8916015625 466.88505859375 m 165.2734375 466.88505859375 l s q 0 0 0 rg BT 73.89 468.45 Td (Segment Information) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 422.95 270.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 422.95 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 422.95 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 422.95 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 422.95 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 422.95 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 394.95 270.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 394.95 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 394.95 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 394.95 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 394.95 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 394.95 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 366.95 270.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 366.95 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 366.95 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 366.95 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 366.95 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 366.95 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 338.95 270.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 338.95 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 338.95 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 338.95 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 338.95 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 338.95 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 316.95 270.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 316.95 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 316.95 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 316.95 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 316.95 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 316.95 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 288.95 270.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 288.95 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 288.95 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 288.95 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 288.95 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 288.95 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 260.95 270.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 260.95 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 260.95 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 260.95 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 260.95 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 260.95 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 232.95 270.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 232.95 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 232.95 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 232.95 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 232.95 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 232.95 70.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 443.95000000000005 m 395 443.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 443.95000000000005 m 404 443.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 443.95000000000005 m 484 443.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 443.95000000000005 m 493 443.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 443.95000000000005 m 563 443.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 443.95000000000005 m 395 443.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 422.95000000000005 m 395 422.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 443.95000000000005 m 484 443.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 422.95000000000005 m 484 422.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 422.95000000000005 m 563 422.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 422.95000000000005 m 484 422.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 338.95000000000005 m 395 338.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 323.95000000000005 m 395 323.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 338.95000000000005 m 484 338.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 323.95000000000005 m 484 323.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 338.95000000000005 m 563 338.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 323.95000000000005 m 563 323.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 246.95000000000005 m 395 246.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 246.95000000000005 m 484 246.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 232.95000000000005 m 484 232.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 246.95000000000005 m 563 246.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 232.95000000000005 m 395 232.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 219.95000000000005 m 395 219.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 217.95000000000005 m 395 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 232.95000000000005 m 484 232.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 219.95000000000005 m 484 219.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 217.95000000000005 m 484 217.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 232.95000000000005 m 563 232.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 219.95000000000005 m 563 219.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 217.95000000000005 m 563 217.95000000000005 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.35 448.68 Td ( November) Tj ET Q q 0 0 0 rg BT 452.10 448.68 Td (30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.70 434.68 Td (Passenger) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.80 424.73 Td (Capacity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.55 434.68 Td (Per) Tj ET Q q 0 0 0 rg BT 429.45 434.68 Td (centage of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.15 424.73 Td (T) Tj ET Q q 0 0 0 rg BT 418.36 424.73 Td (otal Capacity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.35 434.68 Td (Number) Tj ET Q q 0 0 0 rg BT 539.72 434.68 Td ( of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.40 424.73 Td (Cruise Ships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 413.52 Td (North ) Tj ET Q q 0 0 0 rg BT 78.05 413.52 Td (America and ) Tj ET Q q 0 0 0 rg BT 131.36 413.52 Td (Australia \("NAA"\) Segment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 399.52 Td ( Carnival Cruise Line) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.00 399.52 Td (70,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 399.52 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 399.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.50 399.52 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 385.52 Td ( Princess Cruises) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.00 385.52 Td (45,240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 385.52 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.50 385.52 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 371.52 Td ( Holland ) Tj ET Q q 0 0 0 rg BT 94.44 371.52 Td (America Line) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.00 371.52 Td (26,480) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 371.52 Td (1) Tj ET Q q 0 0 0 rg BT 470.15 371.52 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.50 371.52 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 357.52 Td ( P&O Cruises \(Australia\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 357.52 Td (7,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 357.52 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.50 357.52 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 343.52 Td ( Seabourn) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 343.52 Td (2,570) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 343.52 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.50 343.52 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 329.07 Td (152,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 329.52 Td (64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.50 329.52 Td (68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 307.52 Td (Europe and ) Tj ET Q q 0 0 0 rg BT 100.54 307.52 Td (Asia \(EA\) Segment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 293.52 Td ( Costa Cruises \("Costa"\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.00 293.52 Td (34,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 293.52 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.50 293.52 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 279.52 Td ( ) Tj ET Q q 0 0 0 rg BT 59.72 279.52 Td (AIDA) Tj ET Q q 0 0 0 rg BT 84.17 279.52 Td ( Cruises \("AIDA"\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.00 279.52 Td (25,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 279.52 Td (1) Tj ET Q q 0 0 0 rg BT 470.15 279.52 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.50 279.52 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 265.52 Td ( P&O Cruises \(UK\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.00 265.52 Td (17,660) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 265.52 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.50 265.52 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 251.52 Td ( Cunard) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 251.52 Td (6,830) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 251.52 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.50 251.52 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.00 237.52 Td (84,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 237.52 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.50 237.52 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 223.52 Td (236,910) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 223.52 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 223.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.50 223.52 Td (104) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 195.45 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 195.45 Td (e also have a Cruise Support segment that includes our portfolio of leading port destinations and other services, all of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 183.45 Td (are operated for the benefit of our cruise brands. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.97 183.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 159.45 Td (In addition to our cruise operations, we own Holland ) Tj ET Q q 0 0 0 rg BT 262.79 159.45 Td (America Princess ) Tj ET Q q 0 0 0 rg BT 334.99 159.45 Td (Alaska ) Tj ET Q q 0 0 0 rg BT 365.08 159.45 Td (T) Tj ET Q q 0 0 0 rg BT 370.49 159.45 Td (ours, the leading tour company in ) Tj ET Q q 0 0 0 rg BT 506.85 159.45 Td (Alaska and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 147.45 Td (the Canadian ) Tj ET Q q 0 0 0 rg BT 104.11 147.45 Td (Y) Tj ET Q q 0 0 0 rg BT 110.22 147.45 Td (ukon, which complements our ) Tj ET Q q 0 0 0 rg BT 233.26 147.45 Td (Alaska cruise operations. Our tour company owns and operates hotels, lodges, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 135.45 Td (glass-domed railcars and motorcoaches. ) Tj ET Q q 0 0 0 rg BT 211.76 135.45 Td (This tour company and cruise ships, which we charter) Tj ET Q q 0 0 0 rg BT 427.33 135.45 Td (-out) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 443.44 135.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.94 135.45 Td (under long-term leases, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 123.45 Td (comprise our ) Tj ET Q q 0 0 0 rg BT 104.30 123.45 Td (T) Tj ET Q q 0 0 0 rg BT 109.71 123.45 Td (our and Other segment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.58 123.45 Td ( ) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 742.25 Td ( II. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 69.783203125 740.68505859375 m 237.2001953125 740.68505859375 l s q 0 0 0 rg BT 69.78 742.25 Td (Ships Under) Tj ET Q q 0 0 0 rg BT 122.68 742.25 Td ( Contract for) Tj ET Q q 0 0 0 rg BT 178.59 742.25 Td ( Construction) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 237.20 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 718.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.94 718.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.65 718.25 Td (, we have a total of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.23 718.25 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.23 718.25 Td ( cruise ships scheduled to be delivered through) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.68 718.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.18 718.25 Td (2025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.18 718.25 Td (. Our ship construction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.25 Td (contracts are with Fincantieri and MARIOTTI in Italy) Tj ET Q q 0 0 0 rg BT 265.17 706.25 Td (, Meyer ) Tj ET Q q 0 0 0 rg BT 298.59 706.25 Td (W) Tj ET Q q 0 0 0 rg BT 307.23 706.25 Td (erft in Germany and Meyer ) Tj ET Q q 0 0 0 rg BT 418.95 706.25 Td (T) Tj ET Q q 0 0 0 rg BT 424.71 706.25 Td (urku in Finland.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.87 706.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.75 672.75 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.75 672.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 672.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 672.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.75 643.75 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.75 643.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 643.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 643.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.75 615.75 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.75 615.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 615.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 615.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.75 587.75 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.75 587.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 587.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 587.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.75 559.75 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.75 559.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 559.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 559.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.75 531.75 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.75 531.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 531.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 531.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.75 502.75 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.75 502.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 502.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 502.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.75 474.75 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.75 474.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 474.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 474.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.75 446.75 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.75 446.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 446.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 446.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.75 418.75 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.75 418.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 418.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 418.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.75 390.75 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.75 390.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 390.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 390.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.75 362.75 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.75 362.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 362.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 362.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.75 334.75 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.75 334.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 334.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 334.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.75 306.75 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.75 306.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 306.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 306.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.75 278.75 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.75 278.75 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 278.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 278.75 73.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.75 672.75 m 482.75 672.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.75 672.75 m 559.75 672.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.75 686.48 Td ( Scheduled) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.95 676.48 Td (Delivery Date) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.20 686.48 Td ( Passenger) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.55 676.48 Td (Capacity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.25 663.48 Td ( Carnival Cruise Line) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 65.25 649.31 Td (Carnival Panorama) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.50 649.32 Td (October 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.75 649.32 Td (3,990) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 65.25 634.31 Td (Mar) Tj ET Q q 0 0 0 rg BT 82.29 634.31 Td (di Gras) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.85 634.32 Td (August 2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.75 634.32 Td (5,280) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.25 620.32 Td (Newbuild) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.50 620.32 Td (October 2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.75 620.32 Td (5,280) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.25 606.48 Td ( Princess Cruises) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 65.25 592.31 Td (Sky Princess) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.50 592.32 Td (October 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.75 592.32 Td (3,660) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 65.25 578.31 Td (Enchanted Princess) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.40 578.32 Td (June 2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.75 578.32 Td (3,660) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.25 564.32 Td (Newbuild) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.50 564.32 Td (October 2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.75 564.32 Td (3,660) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.25 550.32 Td (Newbuild) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.50 550.32 Td (November 2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.75 550.32 Td (4,310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.25 536.32 Td (Newbuild) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.40 536.32 Td (May 2025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.75 536.32 Td (4,310) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.25 522.48 Td ( Holland ) Tj ET Q q 0 0 0 rg BT 97.43 522.48 Td (America Line) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.25 508.32 Td (Newbuild) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.40 508.32 Td (May 2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.75 508.32 Td (2,670) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.25 493.48 Td ( Seabourn) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.25 479.32 Td (Newbuild) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.40 479.32 Td (June 2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.25 479.32 Td (260) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.25 465.32 Td (Newbuild) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.40 465.32 Td (May 2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.25 465.32 Td (260) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.25 451.48 Td ( Costa) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.25 437.32 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.75 437.32 Td (Costa V) Tj ET Q q 0 0 0 rg BT 98.59 437.32 Td (enezia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.14 437.32 Td ( \(intended for ) Tj ET Q q 0 0 0 rg BT 180.51 437.32 Td (Asia\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 437.32 Td (February 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.75 437.32 Td (4,200) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 65.25 423.31 Td ( Costa Smeralda) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.50 423.32 Td (October 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.75 423.32 Td (5,220) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.25 409.32 Td ( Newbuild \(intended for ) Tj ET Q q 0 0 0 rg BT 163.84 409.32 Td (Asia\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.95 409.32 Td (September 2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.75 409.32 Td (4,260) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.25 395.32 Td ( Newbuild) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.40 395.32 Td (May 2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.75 395.32 Td (5,320) Tj ET Q BT /F2 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10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 635.10 Td (Carnival Cruise Line is The ) Tj ET Q q 0 0 0 rg BT 167.34 635.10 Td (W) Tj ET Q q 0 0 0 rg BT 175.98 635.10 Td (orld) Tj ET Q q 0 0 0 rg BT 194.87 635.10 Td (s Most Popular Cruise Line and provides multi-generational family entertainment at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 623.10 Td (exceptional value to its guests. It is a place where guests can be their most playful selves and choose their fun, a choice that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 611.10 Td (anyone can make at any time which makes that moment better for everyone. Carnival Cruise Line ships are designed to inspire ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 599.10 Td (the experience of bringing people together) Tj ET Q q 0 0 0 rg BT 218.75 599.10 Td (, with limitless opportunities for guests to create their own fun. Carnival Cruise Line ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 587.10 Td (ships sail from 17 convenient U.S. home ports, more than any other line. Its cruise ships are within a 5-hour drive for more than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 575.10 Td (half of all ) Tj ET Q q 0 0 0 rg BT 90.32 575.10 Td (Americans and provide opportunities to experience various destinations and itineraries. Carnival Cruise Line annually ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 563.10 Td (carries more than 5 million guests, including 800,000 children.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.84 563.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 541.10 Td (Carnival Cruise Line) Tj ET Q q 0 0 0 rg BT 136.15 541.10 Td (s ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 142.54 541.10 Td (Carnival Horizon) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.38 541.10 Td ( entered service in ) Tj ET Q q 0 0 0 rg BT 288.34 541.10 Td (April 2018. ) Tj ET Q q 0 0 0 rg BT 336.77 541.10 Td (This ship features new enhancements that include Dr) Tj ET Q q 0 0 0 rg BT 548.09 541.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 529.10 Td (Seuss ) Tj ET Q q 0 0 0 rg BT 74.60 529.10 Td (W) Tj ET Q q 0 0 0 rg BT 83.24 529.10 Td (aterW) Tj ET Q q 0 0 0 rg BT 106.86 529.10 Td (orks where Dr) Tj ET Q q 0 0 0 rg BT 163.51 529.10 Td (. Seuss characters transform the water park experience. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 386.19 529.10 Td (Carnival Horizon) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.03 529.10 Td ( is also home to Guy) Tj ET Q q 0 0 0 rg BT 542.30 529.10 Td (s Pig ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 517.10 Td (& ) Tj ET Q q 0 0 0 rg BT 59.23 517.10 Td (Anchor Bar) Tj ET Q q 0 0 0 rg BT 105.96 517.10 Td (-B-Que Smokehouse|Brewhouse as well as Bonsai ) Tj ET Q q 0 0 0 rg BT 310.52 517.10 Td (T) Tj ET Q q 0 0 0 rg BT 315.93 517.10 Td (eppanyaki, the cruise line) Tj ET Q q 0 0 0 rg BT 420.89 517.10 Td (s teppanyaki dining option where ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 505.10 Td (guests can experience Carnival-style fun.) Tj ET Q BT /F4 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.34901960784313724 0.34901960784313724 0.34901960784313724 rg BT 214.16 505.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 216.94 505.10 Td (Carnival Panorama ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.71 505.10 Td (will enter service in December 2019 and will be the first new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 493.10 Td (ship Carnival Cruise Line will home port on the west coast of the United States in 20 years when it arrives in Long Beach, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 481.10 Td (California. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 95.04 481.10 Td (Carnival Panorama ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.82 481.10 Td (will be followed by two 5,280-passenger capacity ships in 2020 and 2022. Both ships will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 469.10 Td (feature Carnival Corporation) Tj ET Q q 0 0 0 rg BT 167.79 469.10 Td (s exclusive green cruising design which will be powered by Liquefied Natural Gas \(LNG\) and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 457.10 Td (will be the first LNG-powered cruise ships in North ) Tj ET Q q 0 0 0 rg BT 258.63 457.10 Td (America.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.55 457.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 435.10 Td (Carnival Cruise Line continues to enhance its existing fleet by adding a variety of exciting new features. It is in the final stages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 423.10 Td (of an extensive fleet enhancement program delivering branded accommodations, dining and entertainment options across its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 411.10 Td (fleet and providing guests a high standard of excellence across any ship, any home port and any itinerary) Tj ET Q q 0 0 0 rg BT 468.16 411.10 Td (. Carnival Cruise Line ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 399.10 Td (also completed the fleet wide roll out of its innovative and highly-rated mobile Hub ) Tj ET Q q 0 0 0 rg BT 386.09 399.10 Td (App. ) Tj ET Q q 0 0 0 rg BT 408.13 399.10 Td (The popular Hub ) Tj ET Q q 0 0 0 rg BT 478.39 399.10 Td (App facilitates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 387.10 Td (onboard revenue purchases, like shore excursions and specialty dining, and communications to enable guests to maximize their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 375.10 Td (fun. ) Tj ET Q q 0 0 0 rg BT 67.65 375.10 Td (The app also includes an innovative Chat feature in addition to fast access to everything happening onboard.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.13 375.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (Carnival Cruise Line operates three to 24-day voyages and of) Tj ET Q q 0 0 0 rg BT 295.07 353.10 Td (fers year) Tj ET Q q 0 0 0 rg BT 329.57 353.10 Td (-round sailings from the United States to the Caribbean ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (and the Mexican Riviera and from ) Tj ET Q q 0 0 0 rg BT 188.90 341.10 Td (Australia to the South Pacific and New Zealand, as well as seasonal sailings to ) Tj ET Q q 0 0 0 rg BT 505.21 341.10 Td (Alaska, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (Hawaii, Canada and Bermuda. In addition, Carnival Cruise Line continues to increase the number of cruises to Cuba.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.53 329.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.75 262.10 Td ( ) Tj ET Q /GS0 gs q 241.00 0 0 28.00 189.25 262.10 cm /I27 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 226.10 Td (Princess Cruises is a leading premium cruise line and each moment on Princess Cruises is one of wonderful discovery where ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 214.10 Td (guests can relax and explore. ) Tj ET Q q 0 0 0 rg BT 167.61 214.10 Td (The choices are endless - from invigorating activities to more relaxing pursuits - and enable guests ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 202.10 Td (to share special moments with family and friends while enjoying unique travel experiences that create inspiring memories. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.13 202.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 178.10 Td (Princess Cruises) Tj ET Q q 0 0 0 rg BT 117.92 178.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.42 178.10 Td (Sky Princess) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.23 178.10 Td ( will debut in October 2019. ) Tj ET Q q 0 0 0 rg BT 286.31 178.10 Td (The 3,660-passenger capacity ship will feature expansive Sky Suites ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 166.10 Td (and signature Princess Cruises elements from the relaxing Sanctuary to the expansive three-deck Piazza-style ) Tj ET Q q 0 0 0 rg BT 488.80 166.10 Td (Atrium. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 154.10 Td (Enchanted Princess) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.20 154.10 Td (, a sister ship of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 194.75 154.10 Td (Sky Princess, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.56 154.10 Td (will debut in 2020 followed by another ship in 2021. ) Tj ET Q q 0 0 0 rg BT 463.04 154.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 512.95 154.10 Td (, Princess ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 142.10 Td (Cruises has two 4,310-passenger capacity ships slated to be delivered in 2023 and 2025, which will be their first ships to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 130.10 Td (powered by LNG. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.48 130.10 Td ( ) Tj ET Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 33.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 33.60 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (The Princess Cruises Come Back New value proposition features an array of of) Tj ET Q q 0 0 0 rg BT 376.80 740.10 Td (ferings. Designed for fresh cuisine is featured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (across the variety of dining options, including the award-winning restaurant, SHARE, by international chef and television ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (personality Curtis Stone, as well as other specialty dining restaurants from multiple Michelin star chefs. Interactive onboard ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (activities and shore excursions designed in collaboration with Discovery) Tj ET Q q 0 0 0 rg BT 338.78 704.10 Td (, ) Tj ET Q q 0 0 0 rg BT 343.23 704.10 Td (Animal Planet, and local experts in key regional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (destinations provide guests with authentic and exclusive experiences onboard and ashore. In addition, Camp Discovery) Tj ET Q q 0 0 0 rg BT 525.39 692.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (newly-redesigned youth and teen centers onboard select ships, of) Tj ET Q q 0 0 0 rg BT 309.51 680.10 Td (fers the line) Tj ET Q q 0 0 0 rg BT 359.50 680.10 Td (s youngest guests the opportunity to connect, play ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (and learn. Original productions shows created exclusively for Princess Cruises by Grammy and ) Tj ET Q q 0 0 0 rg BT 440.90 668.10 Td (Academy award-winning ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (composer) Tj ET Q q 0 0 0 rg BT 87.98 656.10 Td (, Stephen Schwartz, include ) Tj ET Q q 0 0 0 rg BT 201.65 656.10 Td (The Secret Silk, Born to Dance, and Magic to Do. ) Tj ET Q q 0 0 0 rg BT 403.92 656.10 Td (W) Tj ET Q q 0 0 0 rg BT 412.96 656.10 Td (ith guests) Tj ET Q q 0 0 0 rg BT 453.61 656.10 Td ( overall wellness in mind, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.10 Td (Princess Cruises has collaborated with leading experts in both the science and beauty of sleep to develop theaward-winning ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (Princess Luxury Bed, a multi-year project culminating in 2019. Princess Cruises) Tj ET Q q 0 0 0 rg BT 373.69 632.10 Td ( guest experience platform OceanMedallion, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (onboard ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 84.77 620.10 Td (Caribbean Princess, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.49 620.10 Td (elevates service through enhanced guest experiences before and during cruise vacations. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (addition, MedallionNet of) Tj ET Q q 0 0 0 rg BT 163.26 608.10 Td (fers fast and reliable ) Tj ET Q q 0 0 0 rg BT 246.93 608.10 Td (W) Tj ET Q q 0 0 0 rg BT 255.97 608.10 Td (i-Fi connectivity) Tj ET Q q 0 0 0 rg BT 321.70 608.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.20 608.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.10 Td (Princess Cruises of) Tj ET Q q 0 0 0 rg BT 125.98 584.10 Td (fers guests the opportunity to cover the globe with sailings to six continents that call at more than 380 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.10 Td (destinations including Princess Cays, an exclusive island destination in ) Tj ET Q q 0 0 0 rg BT 335.95 572.10 Td (The Bahamas, of) Tj ET Q q 0 0 0 rg BT 403.80 572.10 Td (fering recently enhanced excursions, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td (retail, bar and marina areas. Princess Cruises of) Tj ET Q q 0 0 0 rg BT 239.53 560.10 Td (fers award-winning itineraries ranging in length from three to 1) Tj ET Q q 0 0 0 rg BT 492.69 560.10 Td (1) Tj ET Q q 0 0 0 rg BT 497.32 560.10 Td (1 days, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.10 Td (including world cruises. Princess Cruises sails to nearly every corner of the world, including ) Tj ET Q q 0 0 0 rg BT 421.09 548.10 Td (Alaska, ) Tj ET Q q 0 0 0 rg BT 453.30 548.10 Td (Asia, ) Tj ET Q q 0 0 0 rg BT 476.08 548.10 Td (Australia, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td (Caribbean, Europe, Mexico, the Panama Canal, South ) Tj ET Q q 0 0 0 rg BT 267.50 536.10 Td (America and more.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.41 536.10 Td ( ) Tj ET Q /GS0 gs q 180.00 0 0 65.00 216.00 442.10 cm /I28 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.00 442.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 412.10 Td (For more than 145 years, Holland ) Tj ET Q q 0 0 0 rg BT 186.42 412.10 Td (America Line has delivered a distinctively classic, European style of cruising throughout its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 400.10 Td (fleet of mid-sized premium ships. Guests enjoy immersive travel through engaging experiences onboard and in-depth cultural ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 388.10 Td (experiences as part of their exploration of fascinating destinations around the world. Holland ) Tj ET Q q 0 0 0 rg BT 422.72 388.10 Td (America Line believes travel has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 376.10 Td (the power to change the world and has defined their higher purpose to help make the world a better place through opening ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 364.10 Td (minds, building connections and inspiring shared humanity) Tj ET Q q 0 0 0 rg BT 285.76 364.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.26 364.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 342.10 Td (Nieuw Statendam) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.77 342.10 Td (, a sister ship of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 185.32 342.10 Td (Koningsdam) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.88 342.10 Td (, will enter service in December 2018, with another sister ship scheduled for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.10 Td (delivery in 2021. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.04 330.10 Td (Nieuw Statendam, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.32 330.10 Td (a 2,670-passenger capacity ship, features all of the hallmarks of its class including grand, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.10 Td (light-filled spaces as well as visual drama and sumptuous interiors inspired by the fluid curves of musical instruments. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 525.24 318.10 Td (Nieuw ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 306.10 Td (Statendam ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.22 306.10 Td (showcases a spectacular two-story ) Tj ET Q q 0 0 0 rg BT 233.99 306.10 Td (W) Tj ET Q q 0 0 0 rg BT 242.63 306.10 Td (orld stage theater featuring a 270-degree high definition screen and also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.10 Td (features innovative specialty restaurants from Rudi) Tj ET Q q 0 0 0 rg BT 256.38 294.10 Td (s Sel de Mer to the Grand Dutch Caf. Guests can explore and experience ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.10 Td (America) Tj ET Q q 0 0 0 rg BT 86.70 282.10 Td (s ) Tj ET Q q 0 0 0 rg BT 92.91 282.10 Td (T) Tj ET Q q 0 0 0 rg BT 98.32 282.10 Td (est Kitchen) Tj ET Q q 0 0 0 rg BT 146.37 282.10 Td (s show) Tj ET Q q 0 0 0 rg BT 173.22 282.10 Td (, hands-on workshops and BBC Earth Experiences presentations. Guests also enjoy authentic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.10 Td (music experiences at sea with some of the world) Tj ET Q q 0 0 0 rg BT 246.11 270.10 Td (s most well-regarded entertainment brands creating exclusive programming ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.10 Td (for Lincoln Center Stage, B.B. King) Tj ET Q q 0 0 0 rg BT 197.25 258.10 Td (s Blues Club, Billboard Onboard and the Rolling Stone Rock Room. Holland ) Tj ET Q q 0 0 0 rg BT 507.80 258.10 Td (America ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.10 Td (Line) Tj ET Q q 0 0 0 rg BT 70.60 246.10 Td (s partnership with O, ) Tj ET Q q 0 0 0 rg BT 156.80 246.10 Td (The Oprah Magazine, has added inspirational programming, theme cruises and Oprah ) Tj ET Q q 0 0 0 rg BT 502.34 246.10 Td (W) Tj ET Q q 0 0 0 rg BT 511.38 246.10 Td (infrey ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.10 Td (serving as godmother to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 148.37 234.10 Td (Nieuw Statendam. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.65 234.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.10 Td (Holland ) Tj ET Q q 0 0 0 rg BT 83.67 212.10 Td (America Line has enhanced its onboard products, including locally cultivated items in culinary and retail designed to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.10 Td (elevate the guests) Tj ET Q q 0 0 0 rg BT 122.62 200.10 Td ( experience of the region they are cruising. Explorations Central is the immersive onboard programming ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.10 Td (designed to make guests) Tj ET Q q 0 0 0 rg BT 149.57 188.10 Td ( destination experience even more engaging and meaningful. Holland ) Tj ET Q q 0 0 0 rg BT 429.48 188.10 Td (America Line) Tj ET Q q 0 0 0 rg BT 487.50 188.10 Td (s revamped retail ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.10 Td (experience features custom personalized jewelry by Sophia Fiori, new art collections by emer) Tj ET Q q 0 0 0 rg BT 423.91 176.10 Td (ging artists featuring unique ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.10 Td (destination centric pieces, a new Fujifilm photo digital creative studio space and an expanded logo-wear collection. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.24 164.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 142.10 Td (Holland ) Tj ET Q q 0 0 0 rg BT 83.67 142.10 Td (America Line of) Tj ET Q q 0 0 0 rg BT 149.56 142.10 Td (fers cruises to more than 400 ports, including Half Moon Cay) Tj ET Q q 0 0 0 rg BT 395.26 142.10 Td (, a private island destination in ) Tj ET Q q 0 0 0 rg BT 520.33 142.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 130.10 Td (Bahamas, providing guests with unparalleled natural beauty of a protected preserve, miles of pristine, white-sand beach, where ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 118.10 Td (guests can stay busy all day or simply luxuriate in tranquil solitude. From shorter getaways to 1) Tj ET Q q 0 0 0 rg BT 431.01 118.10 Td (13-day itineraries, the cruises ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 106.10 Td (visit all seven continents. Holland ) Tj ET Q q 0 0 0 rg BT 187.26 106.10 Td (America Line of) Tj ET Q q 0 0 0 rg BT 253.16 106.10 Td (fers popular sailings to the Caribbean, ) Tj ET Q q 0 0 0 rg BT 407.29 106.10 Td (Alaska, Mexico, Canada & New ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 94.10 Td (England, Bermuda, Europe and the Panama Canal as well as more exotic sailings including ) Tj ET Q q 0 0 0 rg BT 416.63 94.10 Td (Antarctica explorations, South ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 82.10 Td (America circumnavigations, Cuba cruises, ) Tj ET Q q 0 0 0 rg BT 221.12 82.10 Td (Australia & New Zealand and ) Tj ET Q q 0 0 0 rg BT 343.02 82.10 Td (Asia voyages, and four annual Grand ) Tj ET Q q 0 0 0 rg BT 494.18 82.10 Td (V) Tj ET Q q 0 0 0 rg BT 500.12 82.10 Td (oyages.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.38 82.10 Td ( ) Tj ET Q endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (12) Tj ET Q /GS0 gs q 100.00 0 0 52.00 256.00 695.00 cm /I29 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.00 Td (P&O Cruises \(Australia\) invites guests to embark on a journey to a place that) Tj ET Q q 0 0 0 rg BT 361.38 677.00 Td (s unlike any other) Tj ET Q q 0 0 0 rg BT 432.20 677.00 Td (. Each day onboard a P&O ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.00 Td (Cruises \(Australia\) cruise packs a new adventure with something for the young and young at heart. Kick of) Tj ET Q q 0 0 0 rg BT 477.53 665.00 Td (f the shoes for a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.00 Td (game of barefoot bowls or get the heart racing on the adrenaline-fueled zip line on top deck. ) Tj ET Q q 0 0 0 rg BT 420.29 653.00 Td (When the sun goes down the fun ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.00 Td (continues across a wide range of entertainment venues featuring live music, top local comedy acts and original stage shows, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.00 Td (along with bustling bars and themed parties onboard every cruise. ) Tj ET Q q 0 0 0 rg BT 315.08 629.00 Td (W) Tj ET Q q 0 0 0 rg BT 324.12 629.00 Td (ith P&O Cruises \(Australia\) you can choose to do ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.00 Td (everything, or nothing at all.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.36 617.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.06666666666666667 0.13333333333333333 0.3176470588235294 rg BT 49.50 593.00 Td (P) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 55.06 593.00 Td (&O Cruises \(Australia\)) Tj ET Q q 0 0 0 rg BT 151.16 593.00 Td (s ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 157.55 593.00 Td (Pacific ) Tj ET Q q 0 0 0 rg BT 188.19 593.00 Td (Adventur) Tj ET Q q 0 0 0 rg BT 224.47 593.00 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.91 593.00 Td ( will enter service in October 2020. ) Tj ET Q q 0 0 0 rg BT 372.57 593.00 Td (The 2,640-passenger capacity ship will of) Tj ET Q q 0 0 0 rg BT 539.56 593.00 Td (fer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.00 Td (something for everyone, including an expanded range of cabin options such as 5-passenger family cabins, a private onboard ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.00 Td (beach club and an adults only Oasis pool area spread across multiple decks. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 354.41 569.00 Td (Pacific ) Tj ET Q q 0 0 0 rg BT 385.05 569.00 Td (Adventur) Tj ET Q q 0 0 0 rg BT 421.33 569.00 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.27 569.00 Td (will sail year) Tj ET Q q 0 0 0 rg BT 479.72 569.00 Td (-round from Sydney ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.00 Td (to the South Pacific and of) Tj ET Q q 0 0 0 rg BT 155.69 557.00 Td (fer a diverse mix of shorter duration cruises from three to four days and cruises of 13 days and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.00 Td (longer) Tj ET Q q 0 0 0 rg BT 74.50 545.00 Td (. ) Tj ET Q q 0 0 0 rg BT 79.31 545.00 Td (The longer duration itineraries will feature an enrichment program with talks and seminars from notable ) Tj ET Q q 0 0 0 rg BT 497.79 545.00 Td (Australian ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.00 Td (guest presenters and a gala Masquerade Ball. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 232.21 533.00 Td (Pacific ) Tj ET Q q 0 0 0 rg BT 262.85 533.00 Td (Adventur) Tj ET Q q 0 0 0 rg BT 299.13 533.00 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.07 533.00 Td (will also of) Tj ET Q q 0 0 0 rg BT 350.89 533.00 Td (fer a selection of Main Event cruises taking guests ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.00 Td (to iconic festivals and events such as the Melbourne Cup horse race. ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.06666666666666667 0.13333333333333333 0.3176470588235294 rg BT 325.25 521.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 49.50 497.00 Td (Proud to be a local favorite, the fleet includes dining options from local, award-winning chefs including Luke Mangan and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.00 Td (Johnny Di Francesco. P&O Cruises \(Australia\) continues to innovate and enhance their onboard product of) Tj ET Q q 0 0 0 rg BT 477.83 485.00 Td (fering. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.70 485.00 Td (Pacific ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 473.00 Td (Explor) Tj ET Q q 0 0 0 rg BT 76.35 473.00 Td (er) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.68 473.00 Td ( hosted the inaugural lar) Tj ET Q q 0 0 0 rg BT 181.13 473.00 Td (gest comedy festival at sea, ) Tj ET Q q 0 0 0 rg BT 293.13 473.00 Td (The Big Laugh, in ) Tj ET Q q 0 0 0 rg BT 368.40 473.00 Td (August 2018. P&O Cruises \(Australia\) will also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.00 Td (introduce themed 1980) Tj ET Q q 0 0 0 rg BT 144.48 461.00 Td (s and Country Music festival cruises on select sailings. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.00 Td (P&O Cruises \(Australia\) of) Tj ET Q q 0 0 0 rg BT 159.03 437.00 Td (fers cruises generally ranging from three to 18 days to destinations around ) Tj ET Q q 0 0 0 rg BT 457.83 437.00 Td (Australia, New Zealand, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.00 Td (Asia and the South Pacific. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.59 425.00 Td ( ) Tj ET Q /GS0 gs q 124.00 0 0 52.00 244.00 344.00 cm /I30 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 311.00 Td (Seabourn represents the pinnacle of small-ship, ultra-luxury style of travel. Cruising on a Seabourn ship is unlike any other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 299.00 Td (form of travel. ) Tj ET Q q 0 0 0 rg BT 109.85 299.00 Td (The experience is luxurious and elegant, while also relaxed and casual. Guests who sail with Seabourn enjoy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 287.00 Td (impeccable personalized service, immersive destinations and rare exclusive experiences unmatched by any other ship or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 275.00 Td (destination. Seabourn of) Tj ET Q q 0 0 0 rg BT 146.80 275.00 Td (fers the youngest ultra-luxury fleet of intimate all-suite ships. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.01 275.00 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 253.00 Td (Seabourn Ovation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.55 253.00 Td (sister ship to the renowned ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 237.25 253.00 Td (Seabourn Encor) Tj ET Q q 0 0 0 rg BT 302.15 253.00 Td (e,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.08 253.00 Td ( entered service in May 2018, and is the second ship designed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 241.00 Td (for the line by hospitality design icon, ) Tj ET Q q 0 0 0 rg BT 203.37 241.00 Td (Adam D. ) Tj ET Q q 0 0 0 rg BT 242.35 241.00 Td (T) Tj ET Q q 0 0 0 rg BT 248.10 241.00 Td (ihany) Tj ET Q q 0 0 0 rg BT 269.67 241.00 Td (. ) Tj ET Q q 0 0 0 rg BT 274.49 241.00 Td (The ship features all oceanfront suites with private verandas and an al ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 229.00 Td (fresco dining venue, Earth & Ocean at the Patio. Seabourn has two new ultra-luxury expedition ships set to join the fleet in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 217.00 Td (2021 and 2022. Onboard crew will include expedition teams comprised of experienced wilderness experts, scientists and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 205.00 Td (historians who will provide insights into the history) Tj ET Q q 0 0 0 rg BT 255.23 205.00 Td (, ecology and culture of the destinations visited. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.08 205.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 183.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.91 183.00 Td (o enhance the guest experience, Seabourn has entered into several select partnerships to of) Tj ET Q q 0 0 0 rg BT 416.25 183.00 Td (fer a number of innovative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 171.00 Td (programs. ) Tj ET Q q 0 0 0 rg BT 92.09 171.00 Td (These programs include ) Tj ET Q q 0 0 0 rg BT 190.12 171.00 Td (An Evening with ) Tj ET Q q 0 0 0 rg BT 260.76 171.00 Td (T) Tj ET Q q 0 0 0 rg BT 266.52 171.00 Td (im Rice, an evening entertainment experience created exclusively for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 159.00 Td (line; performances by Japanese jazz piano artist, Keiko Matsui; and Unique Spa and ) Tj ET Q q 0 0 0 rg BT 388.66 159.00 Td (W) Tj ET Q q 0 0 0 rg BT 397.30 159.00 Td (ellness Centers of) Tj ET Q q 0 0 0 rg BT 468.21 159.00 Td (fering holistic health ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 147.00 Td (and well-being programs in partnership with Dr) Tj ET Q q 0 0 0 rg BT 240.01 147.00 Td (. ) Tj ET Q q 0 0 0 rg BT 244.83 147.00 Td (W) Tj ET Q q 0 0 0 rg BT 253.47 147.00 Td (eil. Exclusive to Seabourn, ) Tj ET Q q 0 0 0 rg BT 363.26 147.00 Td (The Grill by ) Tj ET Q q 0 0 0 rg BT 415.02 147.00 Td (Thomas Keller) Tj ET Q q 0 0 0 rg BT 474.32 147.00 Td (, reminiscent of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 135.00 Td (classic ) Tj ET Q q 0 0 0 rg BT 78.10 135.00 Td (American restaurant from the 50) Tj ET Q q 0 0 0 rg BT 211.38 135.00 Td (s and 60) Tj ET Q q 0 0 0 rg BT 247.49 135.00 Td (s, is a unique culinary concept focusing on updated versions of iconic dishes. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 123.00 Td (V) Tj ET Q q 0 0 0 rg BT 55.61 123.00 Td (entures by Seabourn provides travelers with exciting, adventurous optional activities that are expertly planned, professionally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 111.00 Td (operated and escorted by skilled expert guides. ) Tj ET Q q 0 0 0 rg BT 239.26 111.00 Td (V) Tj ET Q q 0 0 0 rg BT 245.37 111.00 Td (entures enables guests to experience nature up close in a way that is unique ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 99.00 Td (and exciting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.15 99.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 77.00 Td (Seabourn ships sail to all seven continents and take guests to places beyond the reach of lar) Tj ET Q q 0 0 0 rg BT 414.22 77.00 Td (ger ships. Seabourn itineraries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 65.00 Td (generally range from seven days to over 100 days, including the ) Tj ET Q q 0 0 0 rg BT 308.13 65.00 Td (T) Tj ET Q q 0 0 0 rg BT 313.89 65.00 Td (ransatlantic crossing. ) Tj ET Q q 0 0 0 rg BT 400.63 65.00 Td (The ) Tj ET Q q 0 0 0 rg BT 418.49 65.00 Td (W) Tj ET Q q 0 0 0 rg BT 427.13 65.00 Td (orld of Seabourn includes ) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (destinations such as ) Tj ET Q q 0 0 0 rg BT 130.88 740.10 Td (Alaska; ) Tj ET Q q 0 0 0 rg BT 163.38 740.10 Td (Antarctica & Patagonia; ) Tj ET Q q 0 0 0 rg BT 261.96 740.10 Td (Arabia, ) Tj ET Q q 0 0 0 rg BT 293.61 740.10 Td (Africa & India; ) Tj ET Q q 0 0 0 rg BT 357.20 740.10 Td (Asia; ) Tj ET Q q 0 0 0 rg BT 380.26 740.10 Td (Australia & South Pacific; Canada & New ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (England; the Caribbean; Cuba; the Mediterranean; Northern Europe; Pacific Coastal; Panama Canal and South ) Tj ET Q q 0 0 0 rg BT 494.37 728.10 Td (America.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.30 728.10 Td ( ) Tj ET Q /GS0 gs q 112.00 0 0 71.00 250.00 630.10 cm /I31 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 606.10 Td (Costa delivers Italy) Tj ET Q q 0 0 0 rg BT 130.04 606.10 Td (s finest at sea primarily serving guests from Continental Europe and ) Tj ET Q q 0 0 0 rg BT 404.14 606.10 Td (Asia. Costa brings a modern Italian ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 594.10 Td (lifestyle to its ships and provides guests with a true European experience that embodies a uniquely Italian passion for life ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 582.10 Td (through warm hospitality) Tj ET Q q 0 0 0 rg BT 149.95 582.10 Td (, entertainment and gastronomy that makes Costa dif) Tj ET Q q 0 0 0 rg BT 360.83 582.10 Td (ferent from any other cruise experience. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.25 582.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 558.10 Td (Costa Smeralda, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.67 558.10 Td (is scheduled to enter the fleet in October 2019 and her sister ship in 2021. Both ships will be fueled by LNG. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.10 Td (The ship will feature the triple-deck Colosseo, located in the heart of the ship, showcasing a new story daily on the bright ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.10 Td (screens and on the dome from dawn to sunset. ) Tj ET Q q 0 0 0 rg BT 236.13 534.10 Td (An onboard museum, Costa Design Museum, will becurated by Matteo ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.10 Td (V) Tj ET Q q 0 0 0 rg BT 55.61 522.10 Td (ercelloni and will be dedicated to the excellence of Italian design and feature many of the names that have contributed to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.10 Td (ship's construction and success. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.23 510.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 486.10 Td (Costa V) Tj ET Q q 0 0 0 rg BT 80.34 486.10 Td (enezia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.89 486.10 Td ( will join the fleet in February 2019 and is the first Costa ship built for the Chinese market) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 466.93 486.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.43 486.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.93 486.10 Td (Costa V) Tj ET Q q 0 0 0 rg BT 502.77 486.10 Td (enezia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.32 486.10 Td ( brings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.10 Td (to life the passions of ) Tj ET Q q 0 0 0 rg BT 137.36 474.10 Td (V) Tj ET Q q 0 0 0 rg BT 143.47 474.10 Td (enetian and Italian culture through such spectacles as the Carnival of) Tj ET Q q 0 0 0 rg BT 420.69 474.10 Td (V) Tj ET Q q 0 0 0 rg BT 426.80 474.10 Td (eniceand the city's famed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.10 Td (gondolas. Guests will also experience the delights of fine Italian dining, luxury Italian shopping and world-class Italian ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.10 Td (entertainment while enjoying home comforts such as a range of Chinese cuisines and Chinese-style karaoke bars. ) Tj ET Q q 0 0 0 rg BT 504.65 450.10 Td (A) Tj ET Q q 0 0 0 rg BT 511.32 450.10 Td ( sister ship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.10 Td (also designed for the Chinese market will be delivered in late 2020. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.92 438.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.10 Td (Costa) Tj ET Q q 0 0 0 rg BT 75.06 414.10 Td (s guests can experience a variety of activities making vacations onboard its ships even more exclusive and unfor) Tj ET Q q 0 0 0 rg BT 523.90 414.10 Td (gettable, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.10 Td (including dining options created by Michelin-starred chef Bruno Barbieri, as well as enriched entertainment including ) Tj ET Q q 0 0 0 rg BT 523.62 402.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.10 Td (V) Tj ET Q q 0 0 0 rg BT 55.43 390.10 Td (oice of the Sea and Peppa Pig-branded kids games and educational activities. Enhancing the authentic Italian experience for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.10 Td (the Chinese market, Costa kicked-of) Tj ET Q q 0 0 0 rg BT 195.11 378.10 Td (f its of) Tj ET Q q 0 0 0 rg BT 221.04 378.10 Td (ficial partnership with Juventus Football Club onboard all ships deployed in China, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.10 Td (of) Tj ET Q q 0 0 0 rg BT 57.65 366.10 Td (fering in-depth interactions for fans and activities for guests of all ages. Partnerships have also been developed with ) Tj ET Q q 0 0 0 rg BT 522.61 366.10 Td (T) Tj ET Q q 0 0 0 rg BT 528.02 366.10 Td (encent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.10 Td (\(W) Tj ET Q q 0 0 0 rg BT 61.47 354.10 Td (eChat\) and ) Tj ET Q q 0 0 0 rg BT 107.01 354.10 Td (Alibaba providing local payment methods and other onboard functionalities to Chinese guests. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.76 354.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.10 Td (Costa sails worldwide with cruises generally ranging from four to 20 days and also of) Tj ET Q q 0 0 0 rg BT 392.02 330.10 Td (fers longer exotic sailings up to 30 days as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.10 Td (well as world tours. Costa of) Tj ET Q q 0 0 0 rg BT 164.30 318.10 Td (fers a wide range of sailings in the Mediterranean, Northern Europe, the Caribbean, Dubai and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.10 Td (UAE, the Indian Ocean, South ) Tj ET Q q 0 0 0 rg BT 173.64 306.10 Td (America, the ) Tj ET Q q 0 0 0 rg BT 227.60 306.10 Td (T) Tj ET Q q 0 0 0 rg BT 233.36 306.10 Td (ransatlantic and the Far East.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.15 306.10 Td ( ) Tj ET Q /GS0 gs q 149.00 0 0 41.00 231.50 236.10 cm /I32 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.10 Td (AIDA) Tj ET Q q 0 0 0 rg BT 73.94 212.10 Td ( is the leading and most recognized brand in the German cruise market. Its guests enjoy the German inspired active, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.10 Td (premium modern lifestyle cruise experience. ) Tj ET Q q 0 0 0 rg BT 229.99 200.10 Td (AIDA) Tj ET Q q 0 0 0 rg BT 254.43 200.10 Td ( provides a cruising wellness holiday in modern comfort where guests feel at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.10 Td (home and enjoy consistently excellent service accompanied by the ) Tj ET Q q 0 0 0 rg BT 317.46 188.10 Td (AIDA) Tj ET Q q 0 0 0 rg BT 341.91 188.10 Td ( smile. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.07 188.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 164.10 Td (AIDAnova) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.71 164.10 Td ( will enter the fleet in December 2018 and her) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 275.80 164.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.30 164.10 Td (sister ships will join the fleet in 2021 and 2023. ) Tj ET Q q 0 0 0 rg BT 470.60 164.10 Td (This new generation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 152.10 Td (of ship combines innovative design with state-of-the-art technology) Tj ET Q q 0 0 0 rg BT 319.62 152.10 Td (. Some of the many successful features on ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.40 152.10 Td (AIDAprima ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.56 152.10 Td (such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.10 Td (as the Brewerie, ) Tj ET Q q 0 0 0 rg BT 116.51 140.10 Td (Theatrium, Beach Club and the Four Elements activity area have been further enhanced. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.21 140.10 Td (AIDAnova) Tj ET Q q 0 0 0 rg BT 516.45 140.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.10 Td (Theatrium features a 360-degree stage with 1) Tj ET Q q 0 0 0 rg BT 230.16 128.10 Td (1 LED walls, seven dif) Tj ET Q q 0 0 0 rg BT 321.91 128.10 Td (ferent laser shows and the LED ) Tj ET Q q 0 0 0 rg BT 450.02 128.10 Td (T) Tj ET Q q 0 0 0 rg BT 455.77 128.10 Td (ube. ) Tj ET Q q 0 0 0 rg BT 474.66 128.10 Td (AIDA) Tj ET Q q 0 0 0 rg BT 499.10 128.10 Td ( is the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.10 Td (cruise company to launch a new generation of ships fueled entirely by LNG.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.24 116.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 92.10 Td (Guests onboard the entire ) Tj ET Q q 0 0 0 rg BT 153.92 92.10 Td (AIDA) Tj ET Q q 0 0 0 rg BT 178.36 92.10 Td ( fleet experienced Oktoberfest on the high seas as part of the ) Tj ET Q q 0 0 0 rg BT 422.16 92.10 Td (AIDA) Tj ET Q q 0 0 0 rg BT 446.60 92.10 Td ( Oktoberfest Special 2018. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 80.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.00 80.10 Td (AIDA) Tj ET Q q 0 0 0 rg BT 91.44 80.10 Td ( Selection, a program where guests can experience exploratory cruises to new regions and exclusive destinations, will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 68.10 Td (welcome ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 88.09 68.10 Td (AIDAmira) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.75 68.10 Td (, previously ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 179.47 68.10 Td (Costa) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.81 68.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 205.31 68.10 Td (neoRiviera) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.18 68.10 Td (, in 2019 with a new itinerary to South ) Tj ET Q q 0 0 0 rg BT 405.28 68.10 Td (Africa and Namibia. ) Tj ET Q q 0 0 0 rg BT 489.50 68.10 Td (T) Tj ET Q q 0 0 0 rg BT 494.92 68.10 Td (o enhance the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 56.10 Td (digital experience and guest satisfaction, ) Tj ET Q q 0 0 0 rg BT 213.89 56.10 Td (AIDA) Tj ET Q q 0 0 0 rg BT 238.33 56.10 Td ( provides mobile apps to attend to the guests before, during and after the cruise. ) Tj ET Q endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (The apps include a microblogging service, inspired with user generated content and provide onboard program and restaurant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (information as well as a chat feature for onboard messaging. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.58 728.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (AIDA) Tj ET Q q 0 0 0 rg BT 73.94 704.10 Td ( visits over 230 ports with cruises generally ranging from three to 23 days and also of) Tj ET Q q 0 0 0 rg BT 415.35 704.10 Td (fers a world cruise departing from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (Hambur) Tj ET Q q 0 0 0 rg BT 82.09 692.10 Td (g. ) Tj ET Q q 0 0 0 rg BT 91.54 692.10 Td (AIDA) Tj ET Q q 0 0 0 rg BT 115.98 692.10 Td ( sails to many exciting destinations, including North ) Tj ET Q q 0 0 0 rg BT 326.79 692.10 Td (America, Northern Europe, ) Tj ET Q q 0 0 0 rg BT 438.51 692.10 Td (W) Tj ET Q q 0 0 0 rg BT 447.15 692.10 Td (estern Europe, Southeast ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (Asia, the Canary Islands, the Mediterranean, the Caribbean, Baltic Sea, Red Sea, Black Sea and Dubai.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.4 0.4 0.4 rg BT 461.59 680.10 Td ( ) Tj ET Q /GS0 gs q 135.00 0 0 57.00 238.50 591.10 cm /I33 Do Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 567.10 Td (P&O Cruises \(UK\) is Britain) Tj ET Q q 0 0 0 rg BT 168.39 567.10 Td (s favorite cruise line, welcoming guests to experience the good life and enjoy a blend of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 555.10 Td (discovery) Tj ET Q q 0 0 0 rg BT 87.73 555.10 Td (, relaxation and exceptional service catered towards British tastes. P&O Cruises \(UK\)) Tj ET Q q 0 0 0 rg BT 433.46 555.10 Td (s fleet of premium ships ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 543.10 Td (combine genuine service, a sense of occasion and attention to detail, ensuring guests have the holiday of a lifetime, every time. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 519.10 Td (In 2020, P&O Cruises \(UK\) will launch ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 211.71 519.10 Td (Iona) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.04 519.10 Td (, a new LNG-powered, 5,200-passenger capacity ship, which will be the lar) Tj ET Q q 0 0 0 rg BT 531.70 519.10 Td (gest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 507.10 Td (ship built to serve the UK market. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 187.81 507.10 Td (Iona) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.14 507.10 Td ( will feature enhancements to already successful brand signature venues from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 495.10 Td (existing fleet, as well as features newly developed for ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 266.64 495.10 Td (Iona) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.97 495.10 Td (. ) Tj ET Q q 0 0 0 rg BT 289.79 495.10 Td (These include a breathtaking three deck atrium in the heart of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 483.10 Td (ship as well as SkyDome, an exclusively designed glass dome by award-winning British engineer Eckersley OCallaghan. ) Tj ET Q q 0 0 0 rg BT 540.32 483.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 471.10 Td (will be a world) Tj ET Q q 0 0 0 rg BT 112.54 471.10 Td (s first at sea and of) Tj ET Q q 0 0 0 rg BT 187.62 471.10 Td (fer a unique space for both relaxing in all weathers and providing entertainment, featuring ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 459.10 Td (aerial performers and a wealth of live acts. P&O Cruises \(UK\) will introduce a sister ship in 2022.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.45 459.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 435.10 Td (P&O Cruises \(UK\) continues to enhance its entertainment line-up, launching ) Tj ET Q q 0 0 0 rg BT 359.15 435.10 Td (Astonishing on ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.49 435.10 Td (Azura) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.38 435.10 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 451.38 435.10 Td (Britannia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.72 435.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.16 435.10 Td (V) Tj ET Q q 0 0 0 rg BT 514.16 435.10 Td (entura) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.27 435.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 423.10 Td (This revolutionary guest-interactive magic and illusion show was produced through a partnership with BAFT) Tj ET Q q 0 0 0 rg BT 486.11 423.10 Td (A-winning ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 411.10 Td (presenter Stephen Mulhern, performer Jonathan ) Tj ET Q q 0 0 0 rg BT 243.14 411.10 Td (W) Tj ET Q q 0 0 0 rg BT 252.18 411.10 Td (ilkes and the mind-blowing trickery of master illusionist Guy Barrett. P&O ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 399.10 Td (Cruises \(UK\) also continued partnering with some of the UK) Tj ET Q q 0 0 0 rg BT 296.39 399.10 Td (s most popular and recognized entertainers and primetime ) Tj ET Q q 0 0 0 rg BT 530.58 399.10 Td (TV) Tj ET Q q 0 0 0 rg BT 543.73 399.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 387.10 Td (shows. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 363.10 Td (P&O Cruises \(UK\) visits over 200 destinations worldwide and of) Tj ET Q q 0 0 0 rg BT 310.68 363.10 Td (fers itineraries generally ranging from two to 17 days and also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 351.10 Td (an annual world cruise. P&O Cruises \(UK\) sails to ) Tj ET Q q 0 0 0 rg BT 254.47 351.10 Td (Australia & New Zealand, Baltic, the British Isles, Canada, Spain, Portugal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 339.10 Td (& the Canary Islands, the Caribbean, Central ) Tj ET Q q 0 0 0 rg BT 231.39 339.10 Td (America, Dubai & the ) Tj ET Q q 0 0 0 rg BT 322.20 339.10 Td (Arabian Gulf, the Far East & ) Tj ET Q q 0 0 0 rg BT 440.23 339.10 Td (Asia, the Indian Ocean, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 327.10 Td (Mediterranean, Scandinavia, South ) Tj ET Q q 0 0 0 rg BT 191.96 327.10 Td (America, the South Pacific, the United States and ) Tj ET Q q 0 0 0 rg BT 392.28 327.10 Td (W) Tj ET Q q 0 0 0 rg BT 400.92 327.10 Td (estern Europe. ) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 180.00 0 0 30.00 216.00 256.10 cm /I34 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 220.10 Td (Over its 178 year history) Tj ET Q q 0 0 0 rg BT 148.27 220.10 Td (, the iconic Cunard fleet has perfected the timeless art of luxury ocean travel. ) Tj ET Q q 0 0 0 rg BT 458.52 220.10 Td (While onboard, Cunard ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 208.10 Td (guests experience unique signature moments, from Cunard) Tj ET Q q 0 0 0 rg BT 287.49 208.10 Td (s white gloved afternoon tea service to spectacular gala evening ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 196.10 Td (balls to its renowned Insights Speaker program. Guest expectations are exceeded through Cunard) Tj ET Q q 0 0 0 rg BT 441.33 196.10 Td (s exemplary ) Tj ET Q q 0 0 0 rg BT 492.24 196.10 Td (White Star ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 184.10 Td (Service, a legacy from the ) Tj ET Q q 0 0 0 rg BT 164.09 184.10 Td (White Star Line. From the moment a guest steps onboard, every detail of their cruise is curated to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 172.10 Td (ensure an enjoyable, memorable and luxurious experience. Cunard) Tj ET Q q 0 0 0 rg BT 319.12 172.10 Td (s flagship, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.73 172.10 Td (Queen Mary 2,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.99 172.10 Td ( is unique in being today) Tj ET Q q 0 0 0 rg BT 524.37 172.10 Td (s only ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 160.10 Td (true ocean liner) Tj ET Q q 0 0 0 rg BT 111.29 160.10 Td (, regularly carrying guests on the most iconic of voyages, the ) Tj ET Q q 0 0 0 rg BT 357.43 160.10 Td (T) Tj ET Q q 0 0 0 rg BT 363.19 160.10 Td (ransatlantic Crossing between New ) Tj ET Q q 0 0 0 rg BT 506.66 160.10 Td (Y) Tj ET Q q 0 0 0 rg BT 512.88 160.10 Td (ork and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 148.10 Td (United Kingdom. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 148.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 124.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.17 124.10 Td ( new 3,000-passenger capacity ship is to join ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 238.07 124.10 Td (Queen Mary 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.83 124.10 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.83 124.10 Td (Queen V) Tj ET Q q 0 0 0 rg BT 334.80 124.10 Td (ictoria) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.46 124.10 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 380.90 124.10 Td (Queen Elizabeth) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.27 124.10 Td ( as the fourth member of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 112.10 Td (fleet in 2022. She will be the first new Cunard ship in 12 years, making it the first time since 2000 that Cunard will have four ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 100.10 Td (ships in simultaneous service. Sharing the iconic livery and red funnel, guests will experience today) Tj ET Q q 0 0 0 rg BT 451.62 100.10 Td (s distinct Cunard signatures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 88.10 Td (as well as new brand experiences currently in design. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.98 88.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 64.10 Td (Cunard of) Tj ET Q q 0 0 0 rg BT 89.59 64.10 Td (fers unparalleled experiences enhanced by recent ship refits. New to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 364.74 64.10 Td (Queen V) Tj ET Q q 0 0 0 rg BT 398.71 64.10 Td (ictoria) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.37 64.10 Td ( are Britannia Club ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 52.10 Td (accommodation and dining, where guests can enjoy a spacious balcony stateroom and their own dedicated intimate restaurant. ) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (15) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (Queen Mary 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.26 740.10 Td () Tj ET Q q 0 0 0 rg BT 110.04 740.10 Td (s transformation included a redesign of her Grand Lobby and new furnishings throughout. Enhancements to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (Queen Elizabeth) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.87 728.10 Td ( ranged from a redesigned retail operation to refreshed outdoor spaces and a new spa and beauty salon concept.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.42 728.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.17 704.10 Td ( Cunard cruise is the ultimate luxury way to travel, with cruises generally ranging from seven to 14 days as well as a series of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (longer voyages, including Round the ) Tj ET Q q 0 0 0 rg BT 199.29 692.10 Td (W) Tj ET Q q 0 0 0 rg BT 207.93 692.10 Td (orld ) Tj ET Q q 0 0 0 rg BT 226.36 692.10 Td (V) Tj ET Q q 0 0 0 rg BT 232.29 692.10 Td (oyages. Cunard sails to destinations in ) Tj ET Q q 0 0 0 rg BT 387.56 692.10 Td (Africa, ) Tj ET Q q 0 0 0 rg BT 417.54 692.10 Td (Australia & South Pacific, Canada, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (the Caribbean, the ) Tj ET Q q 0 0 0 rg BT 124.48 680.10 Td (Atlantic Islands, the British Isles, the Canary Islands, Central ) Tj ET Q q 0 0 0 rg BT 371.10 680.10 Td (America, the Far East, the Mediterranean, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (Northern Europe, South ) Tj ET Q q 0 0 0 rg BT 147.26 668.10 Td (America, the Indian Ocean, the Middle East, Scandinavia & Iceland and the United States.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.64 668.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.50 632.10 Td (IV) Tj ET Q q 0 0 0 rg BT 72.32 632.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 79.82421875 630.53505859375 m 230.2783203125 630.53505859375 l s q 0 0 0 rg BT 79.82 632.10 Td (Principal Sour) Tj ET Q q 0 0 0 rg BT 142.15 632.10 Td (ce Geographic ) Tj ET Q q 0 0 0 rg BT 205.47 632.10 Td (Ar) Tj ET Q q 0 0 0 rg BT 216.95 632.10 Td (eas) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.28 632.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 573.60 116.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.25 573.60 56.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.25 573.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.25 573.60 56.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.25 573.60 5.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.25 573.60 56.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.25 573.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.25 573.60 215.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 533.60 116.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.25 533.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.25 533.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.25 533.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.25 533.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.25 533.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.25 533.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.25 533.60 215.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 492.60 116.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.25 492.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.25 492.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.25 492.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.25 492.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.25 492.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.25 492.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.25 492.60 215.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 462.60 116.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.25 462.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.25 462.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.25 462.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.25 462.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.25 462.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.25 462.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.25 462.60 215.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 165.25 587.6 m 221.25 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.25 587.6 m 225.25 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.25 587.6 m 281.25 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.25 587.6 m 286.25 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.25 587.6 m 342.25 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 165.25 573.6 m 221.25 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.25 573.6 m 281.25 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.25 573.6 m 342.25 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.25 573.6 m 561.25 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 165.25 573.6 m 221.25 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.25 573.6 m 281.25 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 165.25 462.6 m 221.25 462.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 165.25 448.6 m 221.25 448.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 165.25 446.6 m 221.25 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.25 462.6 m 281.25 462.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.25 448.6 m 281.25 448.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.25 446.6 m 281.25 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.25 462.6 m 342.25 462.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.25 448.6 m 342.25 448.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.25 446.6 m 342.25 446.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.10 600.33 Td ( Carnival Corporation & plc ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.20 590.33 Td (Cruise Guests Carried) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 51.75 578.16 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.75 578.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.75 578.28 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.75 578.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.50 578.28 Td (Brands Mainly Serving) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 558.72 Td (United States and Canada) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.25 558.72 Td (6,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.25 558.72 Td (6,440) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.25 558.72 Td (6,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.25 563.72 Td (Carnival Cruise Line, Princess Cruises, Holland) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.80 553.72 Td (America Line, Seabourn and Cunard) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 539.17 Td (Continental Europe) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.25 539.17 Td (2,340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.25 539.17 Td (2,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.25 539.17 Td (2,170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 539.17 Td (Costa and ) Tj ET Q q 0 0 0 rg BT 461.82 539.17 Td (AIDA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 523.72 Td (Asia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.25 523.72 Td (1,140) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.25 523.72 Td (1,240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.25 523.72 Td (1,130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.20 523.72 Td (Princess Cruises and Costa) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 503.22 Td (Australia and New Zealand) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.25 503.22 Td (1,020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.25 503.22 Td (1,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.25 503.22 Td (1,010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.40 508.22 Td (Carnival Cruise Line, Princess Cruises and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.80 498.22 Td (P&O Cruises \(Australia\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 482.72 Td (United Kingdom) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.75 482.72 Td (810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.75 482.27 Td (800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.75 482.72 Td (840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.45 482.72 Td (P&O Cruises \(UK\) and Cunard) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 467.72 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.75 467.72 Td (310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.75 467.72 Td (270) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.75 467.72 Td (270) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.75 452.83 Td (T) Tj ET Q q 0 0 0 rg BT 57.50 452.83 Td (otal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.25 452.83 Td (12,410) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.25 452.83 Td (12,100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 311.25 452.83 Td (1) Tj ET Q q 0 0 0 rg BT 316.25 452.83 Td (1,520) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.50 400.10 Td (V) Tj ET Q q 0 0 0 rg BT 69.43 400.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 76.9326171875 398.53505859375 m 149.7890625 398.53505859375 l s q 0 0 0 rg BT 76.93 400.10 Td (Cruise Pr) Tj ET Q q 0 0 0 rg BT 118.13 400.10 Td (ograms) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.79 400.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 57.00 341.60 279.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 341.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 341.60 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 341.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 341.60 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 341.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 341.60 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 57.00 313.60 279.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 313.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 313.60 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 313.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 313.60 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 313.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 313.60 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 57.00 285.60 279.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 285.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 285.60 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 285.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 285.60 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 285.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 285.60 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 57.00 257.60 279.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 257.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 257.60 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 257.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 257.60 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 257.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 257.60 68.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 355.6 m 408 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 355.6 m 413 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 355.6 m 481 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 355.6 m 486 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 355.6 m 554 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 341.6 m 408 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 341.6 m 554 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 341.6 m 481 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 341.6 m 554 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 243.60000000000002 m 408 243.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 243.60000000000002 m 481 243.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 243.60000000000002 m 554 243.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 243.60000000000002 m 408 243.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 230.60000000000002 m 408 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 228.60000000000002 m 408 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 243.60000000000002 m 481 243.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 230.60000000000002 m 481 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 228.60000000000002 m 481 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 243.60000000000002 m 554 243.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 230.60000000000002 m 554 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 228.60000000000002 m 554 228.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.60 368.33 Td (Carnival Corporation & plc ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.40 358.33 Td (Per) Tj ET Q q 0 0 0 rg BT 362.20 358.33 Td (centage of Passenger) Tj ET Q q 0 0 0 rg BT 450.33 358.33 Td ( Capacity by Itinerary) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 346.28 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.50 346.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.50 346.28 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 332.17 Td (Caribbean) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 332.17 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 332.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 332.17 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 332.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 332.17 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 332.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 318.17 Td (Europe without Mediterranean) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 318.17 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 318.17 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 318.17 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 304.17 Td (Mediterranean) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 304.17 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 304.17 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 304.17 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 290.17 Td (Australia and New Zealand) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 290.17 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 290.17 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 290.17 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 276.17 Td (Alaska) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 276.17 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 276.17 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 276.17 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 262.17 Td (China) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 262.17 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 262.17 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 262.17 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 248.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 248.17 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 248.17 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 248.17 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 234.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 234.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 234.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 234.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 234.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 234.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 742.25 Td ( ) Tj ET Q q 0 0 0 rg BT 67.50 742.25 Td (VI. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 86.11328125 740.68505859375 m 236.1083984375 740.68505859375 l s q 0 0 0 rg BT 86.11 742.25 Td (Cruise Pricing and Payment ) Tj ET Q q 0 0 0 rg BT 209.26 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 215.01 742.25 Td (erms) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.11 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.61 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 718.25 Td (Each of our cruise brands publishes prices for the upcoming seasons primarily through the internet, although published ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.25 Td (materials such as brochures and direct mailings are also used. Our brands have multiple pricing levels that vary by source ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.25 Td (market, category of guest accommodation, ship, season, duration and itinerary) Tj ET Q q 0 0 0 rg BT 361.81 694.25 Td (. Cruise prices frequently change in a dynamic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.25 Td (pricing environment and are impacted by a number of factors, including the number of available cabins for sale in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.25 Td (marketplace and the level of guest demand. Some cruise prices are increased due to higher demand. ) Tj ET Q q 0 0 0 rg BT 450.27 670.25 Td (W) Tj ET Q q 0 0 0 rg BT 458.91 670.25 Td (e of) Tj ET Q q 0 0 0 rg BT 474.00 670.25 Td (fer a variety of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (special promotions, including early booking, past guest recognition and travel agent programs. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.06 658.25 Td (W) Tj ET Q q 0 0 0 rg BT 438.70 658.25 Td (e continue to identify and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 646.25 Td (implement new strategies and tactics to strengthen our cruise ticket revenue management processes and systems across our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 634.25 Td (portfolio of brands, such as optimizing our pricing methodologies and improving our pricing models, as evidenced by our new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 622.25 Td (state-of-the-art revenue management system implemented across six brands in 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.73 622.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.05 622.25 Td (W) Tj ET Q q 0 0 0 rg BT 398.68 622.25 Td (e also continue with initiatives to better ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 610.25 Td (coordinate and optimize our brands) Tj ET Q q 0 0 0 rg BT 193.71 610.25 Td ( global itinerary strategies, maximizing guest satisfaction and profits. ) Tj ET Q q 0 0 0 rg BT 472.63 610.25 Td (W) Tj ET Q q 0 0 0 rg BT 481.26 610.25 Td (e have invested in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 598.25 Td (new marketing technologies to further engage our guests by bringing to life the cruise experience.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 574.25 Td (Our bookings are generally taken several months in advance of the cruise departure date. ) Tj ET Q q 0 0 0 rg BT 407.23 574.25 Td (T) Tj ET Q q 0 0 0 rg BT 412.64 574.25 Td (ypically) Tj ET Q q 0 0 0 rg BT 444.21 574.25 Td (, the longer the cruise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 562.25 Td (itinerary the further in advance the bookings are made. ) Tj ET Q q 0 0 0 rg BT 270.90 562.25 Td (This lead time allows us to manage our prices in relation to demand for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 550.25 Td (available cabins through the use of advanced revenue management capabilities and other initiatives, with the typical strategy of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 538.25 Td (marketing our ships to fill them while achieving the highest possible overall net revenue yields. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.86 538.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 514.25 Td (The cruise ticket price typically includes the following: ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 490.25 Td () Tj ET Q /GS0 gs q 10.00 0 0 10.09 75.50 488.09 cm /I35 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 490.25 Td (Accommodations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.54 490.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 478.25 Td () Tj ET Q /GS0 gs q 10.00 0 0 10.09 75.50 476.09 cm /I36 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 478.25 Td (Most meals, including snacks at numerous venues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.75 478.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 466.25 Td () Tj ET Q /GS0 gs q 10.00 0 0 10.09 75.50 464.09 cm /I37 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 466.25 Td (Access to amenities such as swimming pools, water slides, water parks, whirlpools, a health club, and sun decks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.29 466.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 454.25 Td () Tj ET Q /GS0 gs q 10.00 0 0 10.09 75.50 452.09 cm /I38 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 454.25 Td (Child care and supervised youth programs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.63 454.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 442.25 Td () Tj ET Q /GS0 gs q 10.00 0 0 10.09 75.50 440.09 cm /I39 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 442.25 Td (Entertainment, such as theatrical and comedy shows, live music and nightclubs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.09 442.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 430.25 Td () Tj ET Q /GS0 gs q 10.00 0 0 10.09 75.50 428.09 cm /I40 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 430.25 Td (V) Tj ET Q q 0 0 0 rg BT 92.12 430.25 Td (isits to multiple destinations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.62 430.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 406.25 Td (At times, we of) Tj ET Q q 0 0 0 rg BT 110.97 406.25 Td (fer value added packages to induce ticket sales to guests and groups and to encourage advance purchase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 394.25 Td (certain onboard items. ) Tj ET Q q 0 0 0 rg BT 140.96 394.25 Td (These packages are bundled with cruise tickets and sold to guests for a single price rather than as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (separate package and include:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.16 382.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.75 362.32 Td ( ) Tj ET Q q 0 0 0 rg BT 82.98 362.32 Td (Alcoholic/non-alcoholic beverage packages) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.75 362.32 Td ( Internet packages) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.75 348.32 Td ( Shore excursions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.75 348.32 Td ( Photo packages) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.75 334.32 Td ( ) Tj ET Q q 0 0 0 rg BT 82.98 334.32 Td (Air packages) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.75 334.32 Td ( Onboard spending credits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.75 320.32 Td ( Specialty restaurants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.75 320.32 Td ( Gratuities) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 292.25 Td (Our brands) Tj ET Q q 0 0 0 rg BT 96.80 292.25 Td ( payment terms generally require that a guest pay a deposit to confirm their reservation and then pay the balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 280.25 Td (due before the departure date. Our guests are subject to a cancellation fee if they cancel their cruise within a pre-defined period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 268.25 Td (before sailing, unless they purchase a vacation protection package for the ability to obtain a refund. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 268.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 244.25 Td (As a convenience to our guests, we sell air transportation to and from airports near the home ports of our ships. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.16 244.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.16 244.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 232.25 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.76 232.25 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.09 232.25 Td ( of our guests purchased scheduled or chartered air transportation from us. ) Tj ET Q q 0 0 0 rg BT 427.53 232.25 Td (W) Tj ET Q q 0 0 0 rg BT 436.17 232.25 Td (e also of) Tj ET Q q 0 0 0 rg BT 469.87 232.25 Td (fer ground transfers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 220.25 Td (from and to the airport near the ship) Tj ET Q q 0 0 0 rg BT 196.40 220.25 Td (s home port as part of our transfer programs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.96 220.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 196.25 Td ( ) Tj ET Q q 0 0 0 rg BT 62.50 196.25 Td (VII. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 85.0048828125 194.68505859375 m 133.3447265625 194.68505859375 l s q 0 0 0 rg BT 85.00 196.25 Td (Seasonality) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 133.34 196.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 172.25 Td (Our passenger ticket revenues are seasonal. Historically) Tj ET Q q 0 0 0 rg BT 272.38 172.25 Td (, demand for cruises has been greatest during our third quarter) Tj ET Q q 0 0 0 rg BT 520.50 172.25 Td (, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 160.25 Td (includes the Northern Hemisphere summer months. ) Tj ET Q q 0 0 0 rg BT 258.44 160.25 Td (This higher demand during the third quarter results in higher ticket prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 148.25 Td (and occupancy levels and, accordingly) Tj ET Q q 0 0 0 rg BT 203.51 148.25 Td (, the lar) Tj ET Q q 0 0 0 rg BT 233.59 148.25 Td (gest share of our operating income is earned during this period. ) Tj ET Q q 0 0 0 rg BT 488.89 148.25 Td (The seasonality of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 136.25 Td (our results also increases due to ships being taken out-of-service for maintenance, which we schedule during non-peak demand ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 124.25 Td (periods. In addition, substantially all of Holland ) Tj ET Q q 0 0 0 rg BT 243.08 124.25 Td (America Princess ) Tj ET Q q 0 0 0 rg BT 315.29 124.25 Td (Alaska ) Tj ET Q q 0 0 0 rg BT 345.37 124.25 Td (T) Tj ET Q q 0 0 0 rg BT 350.78 124.25 Td (ours) Tj ET Q q 0 0 0 rg BT 370.59 124.25 Td ( revenue and net income is generated from May ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 112.25 Td (through September in conjunction with ) Tj ET Q q 0 0 0 rg BT 208.09 112.25 Td (Alaska) Tj ET Q q 0 0 0 rg BT 238.64 112.25 Td (s cruise season.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.56 112.25 Td ( ) Tj ET Q endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 740.25 Td (VIII. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 84.896484375 738.68505859375 m 213.3388671875 738.68505859375 l s q 0 0 0 rg BT 84.90 740.25 Td (Onboard and Other) Tj ET Q q 0 0 0 rg BT 170.29 740.25 Td ( Revenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.34 740.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.25 Td (Onboard and other activities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.57 716.25 Td (are provided either directly by us or by independent concessionaires, from which we receive either ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (a percentage of their revenues or a fee.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.41 704.25 Td ( In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.74 704.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.74 704.25 Td (, we earned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.04 704.25 Td (25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.37 704.25 Td ( of our revenues from onboard and other revenue activities and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.25 Td (services not included in the cruise ticket price including the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.64 692.25 Td ( ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.50 670.98 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.70 670.98 Td ( ) Tj ET Q q 0 0 0 rg BT 90.50 670.98 Td (Substantially all liquor and some non-alcoholic beverage sales) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 370.50 670.98 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.70 670.98 Td ( ) Tj ET Q q 0 0 0 rg BT 388.50 670.98 Td (Internet and communication services) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.50 657.98 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.70 657.98 Td ( ) Tj ET Q q 0 0 0 rg BT 90.50 657.98 Td (Casino gaming) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 370.50 657.98 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.70 657.98 Td ( ) Tj ET Q q 0 0 0 rg BT 388.50 657.98 Td (Full service spas) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.50 644.98 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.70 644.98 Td ( ) Tj ET Q q 0 0 0 rg BT 90.50 644.98 Td (Shore excursions) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 370.50 644.98 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.70 644.98 Td ( ) Tj ET Q q 0 0 0 rg BT 388.50 644.98 Td (Specialty restaurants) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.50 631.98 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.70 631.98 Td ( ) Tj ET Q q 0 0 0 rg BT 90.50 631.98 Td (Gift shop sales) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 370.50 631.98 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.70 631.98 Td ( ) Tj ET Q q 0 0 0 rg BT 388.50 631.98 Td (Art sales) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 72.50 618.98 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.70 618.98 Td ( ) Tj ET Q q 0 0 0 rg BT 90.50 618.98 Td (Photo sales) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 370.50 618.98 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.70 618.98 Td ( ) Tj ET Q q 0 0 0 rg BT 388.50 618.98 Td (Laundry and dry cleaning services) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 593.25 Td (e enhance our guests) Tj ET Q q 0 0 0 rg BT 143.75 593.25 Td ( onboard experiences and increase our onboard revenues by of) Tj ET Q q 0 0 0 rg BT 393.19 593.25 Td (fering value added packages and tailoring ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.25 Td (our onboard of) Tj ET Q q 0 0 0 rg BT 108.75 581.25 Td (fers with our guest preferences. ) Tj ET Q q 0 0 0 rg BT 236.85 581.25 Td (W) Tj ET Q q 0 0 0 rg BT 245.49 581.25 Td (e are also implementing initiatives to strengthen our onboard revenue by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (improving our onboard retail of) Tj ET Q q 0 0 0 rg BT 175.96 569.25 Td (ferings. ) Tj ET Q q 0 0 0 rg BT 208.54 569.25 Td (W) Tj ET Q q 0 0 0 rg BT 217.18 569.25 Td (e use various marketing and promotional tools and are supported by point-of-sale ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.25 Td (systems permitting cashless transactions for the sale of these onboard and other products and services. ) Tj ET Q q 0 0 0 rg BT 471.33 557.25 Td (As a convenience to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.25 Td (our guests, all our brands allow their guests to pre-book, and in most cases, pre-pay certain of their onboard and other revenue-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.25 Td (producing activities in advance of the cruise.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.60 533.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 509.25 Td (e of) Tj ET Q q 0 0 0 rg BT 73.23 509.25 Td (fer a variety of shore excursions at each ship) Tj ET Q q 0 0 0 rg BT 254.27 509.25 Td (s ports-of-call that include beach experiences, general sightseeing, cultural ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.25 Td (tours, adventure outings and local boat rides. ) Tj ET Q q 0 0 0 rg BT 231.22 497.25 Td (W) Tj ET Q q 0 0 0 rg BT 239.86 497.25 Td (e typically utilize local operators who provide shore excursions with guides who ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.25 Td (speak the same languages as most of our shore excursion guests. For our sailings to destinations in ) Tj ET Q q 0 0 0 rg BT 445.55 485.25 Td (Alaska, shore excursions are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.25 Td (operated by our wholly-owned company) Tj ET Q q 0 0 0 rg BT 211.03 473.25 Td (, Holland ) Tj ET Q q 0 0 0 rg BT 250.19 473.25 Td (America Princess ) Tj ET Q q 0 0 0 rg BT 322.40 473.25 Td (Alaska ) Tj ET Q q 0 0 0 rg BT 352.48 473.25 Td (T) Tj ET Q q 0 0 0 rg BT 357.89 473.25 Td (ours, or provided by local independent operators. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 461.25 Td (e also of) Tj ET Q q 0 0 0 rg BT 91.83 461.25 Td (fer revenue-producing activities on the private islands and port destinations that we operate that include beach bars ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.25 Td (and restaurants, water sports, cabana rentals, chair lifts and surf rider attractions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.32 449.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.25 Td (Our casinos are all owned and operated directly by us and are equipped according to the unique requirements of our brands and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.25 Td (their guests. ) Tj ET Q q 0 0 0 rg BT 100.14 413.25 Td (W) Tj ET Q q 0 0 0 rg BT 108.78 413.25 Td (e of) Tj ET Q q 0 0 0 rg BT 123.87 413.25 Td (fer a wide variety of slot machines and a diverse mix of traditional and specialty table games, as well as other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.25 Td (innovative games all designed to meet the desires of our guests. ) Tj ET Q q 0 0 0 rg BT 306.48 401.25 Td (W) Tj ET Q q 0 0 0 rg BT 315.12 401.25 Td (e have also developed marketing and promotional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.25 Td (arrangements with land-based casino companies in order to increase the number of casino players onboard several of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.25 Td (brands. ) Tj ET Q q 0 0 0 rg BT 80.98 377.25 Td (The casinos are generally open when our ships are at sea in international waters.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.97 377.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 353.25 Td ( ) Tj ET Q q 0 0 0 rg BT 62.50 353.25 Td (IX. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 81.11328125 351.68505859375 m 168.59375 351.68505859375 l s q 0 0 0 rg BT 81.11 353.25 Td (Marketing ) Tj ET Q q 0 0 0 rg BT 128.61 353.25 Td (Activities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 168.59 353.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.25 Td (Guest feedback and research support the development of our overall marketing and business strategies to drive demand for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.25 Td (cruises and increase the number of first-time cruisers. Our goal is to increase the portion of consumer) Tj ET Q q 0 0 0 rg BT 455.02 317.25 Td () Tj ET Q q 0 0 0 rg BT 457.80 317.25 Td (s vacations tar) Tj ET Q q 0 0 0 rg BT 514.82 317.25 Td (geted on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.25 Td (cruises and grow share of suitcase) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 190.28 309.33 Td (TM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.05 305.25 Td ( for cruising on our brands. ) Tj ET Q q 0 0 0 rg BT 314.68 305.25 Td (W) Tj ET Q q 0 0 0 rg BT 323.32 305.25 Td (e measure and evaluate key drivers of guest loyalty and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (their satisfaction with our products and services that provide valuable insights about guests) Tj ET Q q 0 0 0 rg BT 415.90 293.25 Td ( cruise experiences. ) Tj ET Q q 0 0 0 rg BT 496.79 293.25 Td (W) Tj ET Q q 0 0 0 rg BT 505.42 293.25 Td (e closely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.25 Td (monitor our net promoter scores, which reflect the likelihood that our guests will recommend our brands) Tj ET Q q 0 0 0 rg BT 469.76 281.25 Td ( cruise products and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.25 Td (services to friends and family) Tj ET Q q 0 0 0 rg BT 167.15 269.25 Td (. ) Tj ET Q q 0 0 0 rg BT 171.97 269.25 Td (W) Tj ET Q q 0 0 0 rg BT 180.60 269.25 Td (e also regularly initiate customer research studies among guests, travel agent partners, tour ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.25 Td (operators and others for input on business decisions that enhance our cruise products and services for our guests. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.44 257.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 233.25 Td (e continue to improve the coordination of our marketing strategies across brands, which enables us to drive demand for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.25 Td (cruising while generating significant ef) Tj ET Q q 0 0 0 rg BT 205.94 221.25 Td (ficiencies in media costs. ) Tj ET Q q 0 0 0 rg BT 308.78 221.25 Td (W) Tj ET Q q 0 0 0 rg BT 317.42 221.25 Td (e continue to perform psychographic segmentation studies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.25 Td (that allow us to better understand our guests) Tj ET Q q 0 0 0 rg BT 228.44 209.25 Td ( needs, wants and expectations. ) Tj ET Q q 0 0 0 rg BT 356.28 209.25 Td (The results of these studies shape how we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.25 Td (communicate and market, as well as refine the booking process, overall onboard experience and post-cruise interactions. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.25 Td (ability to identify the psychographic segments is a powerful dif) Tj ET Q q 0 0 0 rg BT 302.32 185.25 Td (ferentiator) Tj ET Q q 0 0 0 rg BT 343.56 185.25 Td (, which allows us to guide guests to the right ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.25 Td (experiences with the appropriate brands and build advocates for life. In addition, we have tools and are implementing data ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.25 Td (analytic solutions that identify new market growth opportunities to expand our customer base.) 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.04 101.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.36 101.25 Td (W) Tj ET Q q 0 0 0 rg BT 324.00 101.25 Td (e continue our ef) Tj ET Q q 0 0 0 rg BT 391.29 101.25 Td (forts to expand our original media content ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 89.25 Td (portfolio, which features three award winning ) Tj ET Q q 0 0 0 rg BT 235.09 89.25 Td (TV) Tj ET Q q 0 0 0 rg BT 248.24 89.25 Td ( shows and three digital shows, all featured on our own digital channel, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (OceanV) Tj ET Q q 0 0 0 rg BT 81.66 77.25 Td (iew) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 96.10 81.33 Td (TM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.87 77.25 Td (, as well as our new partnership with Univision, which developed the first OCEAN) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 436.75 81.33 Td (TM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.52 77.25 Td ( prime-time series. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 65.25 Td (programs airing on major networks, cable and digital video on-demand platforms, have reached over 400 million views to date. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 53.25 Td (The shows create compelling experiential content that engages all audiences while inspiring them to travel the world.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.51 53.25 Td ( ) Tj ET Q q 0 0 0 rg BT 520.83 53.25 Td (The ) Tj ET Q endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (expansion of our ) Tj ET Q q 0 0 0 rg BT 119.03 740.10 Td (TV) Tj ET Q q 0 0 0 rg BT 132.18 740.10 Td ( lineup across networks allows us to increase consideration and educate consumers about the cruise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (experience by showcasing our portfolio of brands in iconic global destinations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.26 728.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (Our brands have comprehensive marketing and advertising programs across diverse mediums to promote their products and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (services to vacationers and our travel agent partners. Each brand) Tj ET Q q 0 0 0 rg BT 309.94 692.10 Td (s marketing activities are generally designed to reach a local ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (region in the local language. ) Tj ET Q q 0 0 0 rg BT 165.39 680.10 Td (W) Tj ET Q q 0 0 0 rg BT 174.03 680.10 Td (e continue to expand our marketing ef) Tj ET Q q 0 0 0 rg BT 326.01 680.10 Td (forts to attract new guests online by leveraging the reach ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (and impact of digital marketing and social media. ) Tj ET Q q 0 0 0 rg BT 250.09 668.10 Td (W) Tj ET Q q 0 0 0 rg BT 258.73 668.10 Td (e have also invested in new marketing technologies to deliver more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (engaging and personalized communications. ) Tj ET Q q 0 0 0 rg BT 229.54 656.10 Td (This helps us cultivate guests as advocates of our brands, ships, itineraries and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.10 Td (onboard products and services. ) Tj ET Q q 0 0 0 rg BT 175.67 644.10 Td (W) Tj ET Q q 0 0 0 rg BT 184.31 644.10 Td (e also have blogs hosted by ship captains, cruise and entertainment directors, executive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (pursers and special guests.) 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.14 584.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td ( ) Tj ET Q q 0 0 0 rg BT 67.50 560.10 Td (X. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 82.2216796875 558.53505859375 m 164.1845703125 558.53505859375 l s q 0 0 0 rg BT 82.22 560.10 Td (Sales Relationships) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.18 560.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 536.10 Td (e sell the majority of our cruises through travel agents and tour operators that serve our guests in their local regions. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.10 Td (individual cruise brands) Tj ET Q q 0 0 0 rg BT 148.18 524.10 Td ( relationships with their travel agents are generally independent of each of our other brands. 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.76 416.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.10 Td (All of our brands have internet booking engines to allow travel agents to book our cruises. ) Tj ET Q q 0 0 0 rg BT 412.84 392.10 Td (W) Tj ET Q q 0 0 0 rg BT 421.48 392.10 Td (e also support travel agent booking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.10 Td (capabilities through global distribution systems. ) Tj ET Q q 0 0 0 rg BT 243.37 380.10 Td (All of our cruise brands have their own consumer websites that provide access ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.10 Td (to information about their products and services to users and enable their guests to quickly and easily book cruises and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 356.10 Td (products and services online. ) Tj ET Q q 0 0 0 rg BT 167.90 356.10 Td (These sites interface with brands) Tj ET Q q 0 0 0 rg BT 301.55 356.10 Td ( social networks, blogs and other social media sites, which allow ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.10 Td (them to develop greater contact and interaction with their guests before, during and after their cruise. ) Tj ET Q q 0 0 0 rg BT 455.28 344.10 Td (W) Tj ET Q q 0 0 0 rg BT 463.91 344.10 Td (e also employ vacation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.10 Td (planners who support our sales initiatives by of) Tj ET Q q 0 0 0 rg BT 238.46 332.10 Td (fering our guests one-on-one cruise planning expertise and other services. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.86 332.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 308.10 Td (e are a customer service driven company and continue to invest in our service or) Tj ET Q q 0 0 0 rg BT 379.50 308.10 Td (ganization to assist travel agents and guests ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 296.10 Td (before, during and after their cruise. ) Tj ET Q q 0 0 0 rg BT 195.92 296.10 Td (W) Tj ET Q q 0 0 0 rg BT 204.56 296.10 Td (e believe that our support systems and infrastructure are among the strongest in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.10 Td (vacation industry) Tj ET Q q 0 0 0 rg BT 118.00 284.10 Td (. Our investment in customer service includes the development of employees, processes and systems. ) Tj ET Q q 0 0 0 rg BT 525.22 284.10 Td (W) Tj ET Q q 0 0 0 rg BT 533.86 284.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.10 Td (continually improve our systems within the reservations and customer relationship management functions, emphasizing the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.10 Td (continuing support and training of the travel agency community) Tj ET Q q 0 0 0 rg BT 304.34 260.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.84 260.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 233.10 Td ( XI. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 84.11328125 231.53505859375002 m 143.0244140625 231.53505859375002 l s q 0 0 0 rg BT 84.11 233.10 Td (Sustainability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 143.02 233.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 208.10 Td (Our reputation and success depend on having sustainable and transparent operations. 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584.25 Td (bridge ) Tj ET Q q 0 0 0 rg BT 374.75 584.25 Td (and ) Tj ET Q q 0 0 0 rg BT 390.76 584.25 Td (engineering ) Tj ET Q q 0 0 0 rg BT 439.52 584.25 Td (of) Tj ET Q q 0 0 0 rg BT 447.67 584.25 Td (ficers. ) Tj ET Q q 0 0 0 rg BT 473.95 584.25 Td (CSMAR) Tj ET Q q 0 0 0 rg BT 508.36 584.25 Td (T) Tj ET Q q 0 0 0 rg BT 514.29 584.25 Td ( ) Tj ET Q q 0 0 0 rg BT 515.86 584.25 Td (participants ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.25 Td (receive ) Tj ET Q q 0 0 0 rg BT 79.79 572.25 Td (a ) Tj ET Q q 0 0 0 rg BT 85.66 572.25 Td (maritime ) Tj ET Q q 0 0 0 rg BT 123.19 572.25 Td (training ) Tj ET Q q 0 0 0 rg BT 155.73 572.25 Td (experience ) Tj ET Q q 0 0 0 rg BT 200.46 572.25 Td (that ) Tj ET Q q 0 0 0 rg BT 216.88 572.25 Td (fosters ) Tj ET Q q 0 0 0 rg BT 244.97 572.25 Td (critical ) Tj ET Q q 0 0 0 rg BT 274.16 572.25 Td (thinking, ) Tj ET Q q 0 0 0 rg BT 311.43 572.25 Td (problem ) Tj ET Q q 0 0 0 rg BT 346.18 572.25 Td (solving, ) Tj ET Q q 0 0 0 rg BT 379.56 572.25 Td (ethical ) Tj ET Q q 0 0 0 rg BT 407.64 572.25 Td (decision ) Tj ET Q q 0 0 0 rg BT 442.40 572.25 Td (making ) Tj ET Q q 0 0 0 rg BT 473.83 572.25 Td (and ) Tj ET Q q 0 0 0 rg BT 489.70 572.25 Td (skill ) Tj ET Q q 0 0 0 rg BT 508.35 572.25 Td (development. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (In ) Tj ET Q q 0 0 0 rg BT 60.32 560.25 Td (2017, ) Tj ET Q q 0 0 0 rg BT 85.31 560.25 Td (CSMAR) Tj ET Q q 0 0 0 rg BT 119.72 560.25 Td (T) Tj ET Q q 0 0 0 rg BT 125.65 560.25 Td ( ) Tj ET Q q 0 0 0 rg BT 128.14 560.25 Td (launched ) Tj ET Q q 0 0 0 rg BT 166.73 560.25 Td (an ) Tj ET Q q 0 0 0 rg BT 178.66 560.25 Td (environmental ) Tj ET Q q 0 0 0 rg BT 238.90 560.25 Td (of) Tj ET Q q 0 0 0 rg BT 247.05 560.25 Td (ficer ) Tj ET Q q 0 0 0 rg BT 267.86 560.25 Td (training ) Tj ET Q q 0 0 0 rg BT 301.45 560.25 Td (program ) Tj ET Q q 0 0 0 rg BT 337.82 560.25 Td (and ) Tj ET Q q 0 0 0 rg BT 354.75 560.25 Td (began ) Tj ET Q q 0 0 0 rg BT 381.12 560.25 Td (of) Tj ET 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Tj ET Q q 0 0 0 rg BT 464.95 548.25 Td (protection. ) Tj ET Q q 0 0 0 rg BT 509.84 548.25 Td (During ) Tj ET Q q 0 0 0 rg BT 540.01 548.25 Td (2018, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.25 Td (we ) Tj ET Q q 0 0 0 rg BT 63.66 536.25 Td (provided ) Tj ET Q q 0 0 0 rg BT 101.71 536.25 Td (training ) Tj ET Q q 0 0 0 rg BT 135.31 536.25 Td (to ) Tj ET Q q 0 0 0 rg BT 145.59 536.25 Td (nearly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.07 536.25 Td (6,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.57 536.25 Td ( ) Tj ET Q q 0 0 0 rg BT 198.07 536.25 Td (bridge ) Tj ET Q q 0 0 0 rg BT 226.12 536.25 Td (and ) Tj ET Q q 0 0 0 rg BT 243.06 536.25 Td (engineering ) Tj ET Q q 0 0 0 rg BT 292.76 536.25 Td (of) Tj ET Q q 0 0 0 rg BT 300.91 536.25 Td (ficers ) Tj ET Q q 0 0 0 rg BT 325.62 536.25 Td (at ) Tj ET Q q 0 0 0 rg BT 335.33 536.25 Td (CSMAR) Tj ET Q q 0 0 0 rg BT 369.75 536.25 Td (T) Tj ET Q q 0 0 0 rg BT 375.12 536.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.12 536.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 512.25 Td ( ) Tj ET Q q 0 0 0 rg BT 62.50 512.25 Td (XIV) Tj ET Q q 0 0 0 rg BT 79.55 512.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 87.0458984375 510.68505859375 m 190.1171875 510.68505859375 l s q 0 0 0 rg BT 87.05 512.25 Td (Information ) Tj ET Q q 0 0 0 rg BT 141.59 512.25 Td (T) Tj ET Q q 0 0 0 rg BT 147.34 512.25 Td (echnology) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.12 512.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.54 488.25 Td (ith the increasing size and sophistication of cruise ships, the technologies employed to create guest experiences and operate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.25 Td (ships have grown ever more complex and integrated. Our global information technology model is designed to contribute to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.25 Td (exceeding expectations of our guests, crew) Tj ET Q q 0 0 0 rg BT 220.45 464.25 Td (, shoreside employees and other stakeholders. ) Tj ET Q q 0 0 0 rg BT 405.77 464.25 Td (This model is focused on supporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.25 Td (exceptional guest experiences while increasingly leveraging common technologies to drive process ef) Tj ET Q q 0 0 0 rg BT 456.12 452.25 Td (ficiency and ef) Tj ET Q q 0 0 0 rg BT 515.35 452.25 Td (fectiveness ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.25 Td (across our portfolio of brands. 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.31 392.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.25 Td (All of our brands are actively collaborating on our global information technology solutions, standards and processes across our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 356.25 Td (shoreside and shipboard environment. By aligning technology planning, infrastructure, security) Tj ET Q q 0 0 0 rg BT 430.43 356.25 Td (, privacy and applications, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.25 Td (continue to maximize the business value of our information technology investments by eliminating redundancies and driving ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.25 Td (syner) Tj ET Q q 0 0 0 rg BT 70.98 332.25 Td (gies across the brands while identifying and leveraging best practices and establishing common standards.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.31 332.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 308.25 Td ( ) Tj ET Q q 0 0 0 rg BT 62.50 308.25 Td (XV) Tj ET Q q 0 0 0 rg BT 75.65 308.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 83.154296875 306.68505859375 m 129.8388671875 306.68505859375 l s q 0 0 0 rg BT 83.15 308.25 Td (Innovation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.84 308.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 284.25 Td (e have successfully delivered innovation to our guests for more than four decades. Our continuous innovation with ship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.25 Td (design allows our guests to enjoy carefully crafted experiences while ef) Tj ET Q q 0 0 0 rg BT 335.33 272.25 Td (fortlessly en-route to their next port-of-call. Our leading ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.25 Td (port development has opened new locations and experiences to our guests.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.47 260.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.25 Td (Our innovation pursuit is focused on creating amazing guest experiences and leveraging our enterprise scale. ) Tj ET Q q 0 0 0 rg BT 486.95 236.25 Td (This focus has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (driven the creation of our newly developed Experience Platform. ) Tj ET Q q 0 0 0 rg BT 320.32 224.25 Td (The guest centric experience platform leverages multiple ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.25 Td (proprietary technologies that work together to power guest experiences.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.35 212.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 188.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 188.25 Td (OceanMedallion) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 152.14 192.78 Td (TM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.89 188.25 Td ( - a revolutionary wearable device that enables a highly personalized vacation experience that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 176.25 Td (works in conjunction with a portfolio of digital experiences all focused on simplifying guest access to experiences and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 164.25 Td (facilitating a more immersive vacation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.38 164.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 140.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 140.25 Td (xiOT) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 106.61 144.78 Td (TM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.36 140.25 Td ( - an invisible network of interactive intelligent sensors and embedded devices mounted throughout the ship, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 128.25 Td (home ports and destinations that uses a guest-centric, Internet of ) Tj ET Q q 0 0 0 rg BT 344.97 128.25 Td (Things approach to enable a seamless guest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 116.25 Td (experience) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.80 116.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 92.25 Td (In 2018, we opened the third of three state-of-the-art Fleet Operations Centers \(FOC\) with advanced ship to shore ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 80.25 Td (communications technology) Tj ET Q q 0 0 0 rg BT 161.88 80.25 Td (. ) Tj ET Q q 0 0 0 rg BT 166.70 80.25 Td (W) Tj ET Q q 0 0 0 rg BT 175.34 80.25 Td (e continue to develop, implement and utilize cutting-edge proprietary technology at these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 68.25 Td (centers to enhance our ability to monitor ship nautical and technical performance in real time, including fuel consumption, ) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (engine performance and air emissions. ) Tj ET Q q 0 0 0 rg BT 205.93 740.10 Td (The centers allow for improved communications between the ship and shore, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (immediate support to our ships for route planning, maritime safety and risk management.) 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Our lar) Tj ET Q q 0 0 0 rg BT 215.11 572.10 Td (gest capital investments are for the construction of new ships. ) Tj ET Q q 0 0 0 rg BT 464.03 572.10 Td (W) Tj ET Q q 0 0 0 rg BT 472.66 572.10 Td (e have agreements in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td (place for the construction of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.73 560.10 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.73 560.10 Td ( cruise ships with four shipyards.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.94 560.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td ( ) Tj ET Q q 0 0 0 rg BT 63.00 536.10 Td (XVII. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 94.5 534.53505859375 m 137.283203125 534.53505859375 l s q 0 0 0 rg BT 94.50 536.10 Td (Insurance) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 103.50 512.10 Td (a. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 121.5 510.53505859375 m 155.93359375 510.53505859375 l s q 0 0 0 rg BT 121.50 512.10 Td (General) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 500.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 488.10 Td (e maintain insurance to cover a number of risks associated with owning and operating our vessels and other non-ship related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.10 Td (risks. ) Tj ET Q q 0 0 0 rg BT 72.84 476.10 Td (All such insurance policies are subject to coverage limits, exclusions and deductible levels. Insurance premiums are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.10 Td (dependent on our own loss experience and the general premium requirements of our insurers. ) Tj ET Q q 0 0 0 rg BT 425.03 464.10 Td (W) Tj ET Q q 0 0 0 rg BT 433.67 464.10 Td (e maintain certain levels of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.10 Td (deductibles for substantially all the below-mentioned coverages. ) Tj ET Q q 0 0 0 rg BT 309.24 452.10 Td (W) Tj ET Q q 0 0 0 rg BT 317.88 452.10 Td (e may increase our deductibles to mitigate future premium ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.10 Td (increases. ) Tj ET Q q 0 0 0 rg BT 90.96 440.10 Td (W) Tj ET Q q 0 0 0 rg BT 99.60 440.10 Td (e do not carry coverage related to loss of earnings or revenues from our ships or other operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.42 440.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 103.50 416.10 Td (b. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 121.5 414.53505859375 m 315.73828125 414.53505859375 l s q 0 0 0 rg BT 121.50 416.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 131.87 416.10 Td (otection and Indemnity \(P&I\) Coverages) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.10 Td (Liabilities, costs and expenses for illness and injury to crew) Tj ET Q q 0 0 0 rg BT 287.68 392.10 Td (, guest injury) Tj ET Q q 0 0 0 rg BT 339.53 392.10 Td (, pollution and other third party claims in connection ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.10 Td (with our cruise activities are covered by our P&I clubs, which are mutual indemnity associations owned by ship owners. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.55 380.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 356.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 356.10 Td (e are members of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.77 356.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.75 356.10 Td ( P&I clubs, Gard, Steamship Mutual and UK Club, which are part of a worldwide group of 13 P&I ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.10 Td (clubs, known as the International Group of P&I Clubs \(the IG\). ) Tj ET Q q 0 0 0 rg BT 313.98 344.10 Td (The IG insures directly) Tj ET Q q 0 0 0 rg BT 405.80 344.10 Td (, and through broad and established ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.10 Td (reinsurance markets, a lar) Tj ET Q q 0 0 0 rg BT 152.04 332.10 Td (ge portion of the world) Tj ET Q q 0 0 0 rg BT 247.02 332.10 Td (s shipping fleets. Coverage is subject to the P&I clubs) Tj ET Q q 0 0 0 rg BT 465.69 332.10 Td ( rules and the limits of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.10 Td (coverage are determined by the IG. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.04 320.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 103.50 296.10 Td (c. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 121.5 294.53505859375 m 253.4580078125 294.53505859375 l s q 0 0 0 rg BT 121.50 296.10 Td (Hull and Machinery Insurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.46 296.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 272.10 Td (e maintain insurance on the hull and machinery of each of our ships for reasonable amounts as determined by management. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.10 Td (The coverage for hull and machinery is provided by lar) Tj ET Q q 0 0 0 rg BT 270.07 260.10 Td (ge and well-established international marine insurers. Insurers make it a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.10 Td (condition for insurance coverage that a ship be certified as in class by a classification society that is a member of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.10 Td (International ) Tj ET Q q 0 0 0 rg BT 102.54 236.10 Td (Association of Classification Societies \(IACS\). ) Tj ET Q q 0 0 0 rg BT 301.95 236.10 Td (All of our ships are routinely inspected and certified to be in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.10 Td (class by an IACS member) Tj ET Q q 0 0 0 rg BT 153.37 224.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.87 224.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 103.50 200.10 Td (d. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 121.5 198.53505859375002 m 207.4423828125 198.53505859375002 l s q 0 0 0 rg BT 121.50 200.10 Td (W) Tj ET Q q 0 0 0 rg BT 130.95 200.10 Td (ar) Tj ET Q q 0 0 0 rg BT 140.21 200.10 Td ( Risk Insurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.44 200.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 176.10 Td (e maintain war risk insurance for legal liability to crew) Tj ET Q q 0 0 0 rg BT 277.13 176.10 Td (, guests and other third parties as well as loss or damage to our vessels ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.10 Td (arising from war or war) Tj ET Q q 0 0 0 rg BT 144.27 164.10 Td (-like actions, including terrorist incidents. Items excluded from this coverage are claims arising from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 152.10 Td (chemical, nuclear and biological attacks. Our primary war risk insurance coverage is provided by international marine insurers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.10 Td (and our excess war risk insurance is provided by our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.22 140.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.21 140.10 Td ( P&I clubs. Under the terms of our war risk insurance coverage, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.10 Td (which are typical for war risk policies in the marine industry) Tj ET Q q 0 0 0 rg BT 291.00 128.10 Td (, insurers can give us seven days) Tj ET Q q 0 0 0 rg BT 423.83 128.10 Td ( notice that the insurance policies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.10 Td (will be cancelled. However) Tj ET Q q 0 0 0 rg BT 158.49 116.10 Td (, the policies can be reinstated at dif) Tj ET Q q 0 0 0 rg BT 302.15 116.10 Td (ferent premium rates. ) Tj ET Q q 0 0 0 rg BT 390.26 116.10 Td (This gives insurers the ability to increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 104.10 Td (our premiums following events that they determine have increased their risk.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.91 104.10 Td ( ) Tj ET Q endstream endobj 49 0 obj <> endobj 50 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 103.50 740.25 Td (e. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 121.5 738.68505859375 m 192.1494140625 738.68505859375 l s q 0 0 0 rg BT 121.50 740.25 Td (Other) Tj ET Q q 0 0 0 rg BT 146.87 740.25 Td ( Insurance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.15 740.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.65 740.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 716.25 Td (e maintain property insurance covering our shoreside assets and casualty insurance covering liabilities to third parties arising ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (from our hotel and transportation business, shore excursion operations and shoreside operations, including our port and related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.25 Td (commercial facilities. ) Tj ET Q q 0 0 0 rg BT 138.45 692.25 Td (W) Tj ET Q q 0 0 0 rg BT 147.08 692.25 Td (e also maintain worker) Tj ET Q q 0 0 0 rg BT 238.81 692.25 Td () Tj ET Q q 0 0 0 rg BT 241.59 692.25 Td (s compensation, director) Tj ET Q q 0 0 0 rg BT 339.99 692.25 Td () Tj ET Q q 0 0 0 rg BT 342.77 692.25 Td (s and of) Tj ET Q q 0 0 0 rg BT 374.25 692.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 392.93 692.25 Td () Tj ET Q q 0 0 0 rg BT 395.71 692.25 Td (s liability and other insurance coverages.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.99 692.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 668.25 Td (XVIII. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 96.6181640625 666.68505859375 m 256.0712890625 666.68505859375 l s q 0 0 0 rg BT 96.62 668.25 Td (Port Destinations and Private Islands) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.25 Td (In select geographies around the world we operate a portfolio of leading port destinations and private islands to grow demand ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.25 Td (and create relative scarcity) Tj ET Q q 0 0 0 rg BT 155.73 632.25 Td (. ) Tj ET Q q 0 0 0 rg BT 160.54 632.25 Td (This enables us to of) Tj ET Q q 0 0 0 rg BT 243.13 632.25 Td (fer exceptional guest experiences by creating a wide variety of high quality ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.25 Td (destinations around the world that are uniquely tailored to our guests) Tj ET Q q 0 0 0 rg BT 327.02 620.25 Td ( preferences.In addition, to secure preferential berth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.25 Td (access to third party ports, we coordinate across brands to negotiate berthing agreements and to secure preferred access through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.25 Td (shared agreements and commitments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.01 596.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 572.25 Td (XIX. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 94.5 570.68505859375 m 209.216796875 570.68505859375 l s q 0 0 0 rg BT 94.50 572.25 Td (Governmental Regulations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 209.22 572.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 548.25 Td ( ) Tj ET Q q 0 0 0 rg BT 94.50 548.25 Td (a. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 112.5 546.68505859375 m 206.09375 546.68505859375 l s q 0 0 0 rg BT 112.50 548.25 Td (Maritime Regulations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 206.09 548.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.25 Td ( ) Tj ET Q q 0 0 0 rg BT 72.00 524.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 112.50 524.25 Td (1. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 130.5 522.68505859375 m 164.93359375 522.68505859375 l s q 0 0 0 rg BT 130.50 524.25 Td (General) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.93 524.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (Our ships are regulated by numerous international, national, state and local laws, regulations, treaties and other legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.25 Td (requirements that govern health, environmental, safety and security matters in relation to our guests, crew and ships. ) Tj ET Q q 0 0 0 rg BT 517.24 488.25 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.25 Td (requirements change regularly) Tj ET Q q 0 0 0 rg BT 170.46 476.25 Td (, sometimes on a daily basis, depending on the itineraries of our ships and the ports and countries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.25 Td (visited. If we violate or fail to comply with any of these laws, regulations, treaties and other requirements we could be fined or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.25 Td (otherwise sanctioned by regulators. ) Tj ET Q q 0 0 0 rg BT 193.45 452.25 Td (W) Tj ET Q q 0 0 0 rg BT 202.08 452.25 Td (e are committed to complying with, or exceeding, all relevant maritime requirements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.69 452.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.25 Td (The primary regulatory bodies that establish maritime laws and requirements applicable to our ships include:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.93 440.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 416.25 Td (The International Maritime Organization \(IMO\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.14 416.25 Td ( ) Tj ET Q q 0 0 0 rg BT 309.08 416.25 Td (All of our ships, and the maritime industry as a whole, are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 404.25 Td (subject to the maritime safety) Tj ET Q q 0 0 0 rg BT 203.15 404.25 Td (, security and environmental regulations established by the IMO, a specialized agency of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 392.25 Td (the United Nations. ) Tj ET Q q 0 0 0 rg BT 165.86 392.25 Td (The IMO) Tj ET Q q 0 0 0 rg BT 206.13 392.25 Td (s principal sets of requirements are mandated through its International Convention for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 380.25 Td (the Safety of Life at Sea \(SOLAS\) and its International Convention for the Prevention of Pollution from Ships ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 368.25 Td (\(MARPOL\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.21 368.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 344.25 Td (Flag States:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.77 344.25 Td ( Our ships are registered, or flagged, in ) Tj ET Q q 0 0 0 rg BT 294.43 344.25 Td (The Bahamas, Bermuda, Italy) Tj ET Q q 0 0 0 rg BT 413.46 344.25 Td (, Malta, the Netherlands, Panama ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 332.25 Td (and the UK, which are also referred to as Flag States. Our ships are regulated by these Flag States through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 320.25 Td (international conventions that govern health, environmental, safety and security matters in relation to our guests, crew ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 308.25 Td (and ships. Representatives of each Flag State conduct periodic inspections, surveys and audits to verify compliance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 296.25 Td (with these requirements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.03 296.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 272.25 Td (Ship classification societies:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.27 272.25 Td ( Class certification is one of the necessary documents required for our cruise ships to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 260.25 Td (flagged in a specific country) Tj ET Q q 0 0 0 rg BT 198.69 260.25 Td (, obtain liability insurance and legally operate as passenger cruise ships. Our ships are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 248.25 Td (subject to periodic class surveys, including dry-dock inspections, by ship classification societies to verify that our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 236.25 Td (ships have been maintained in accordance with the rules of the classification societies and that recommended repairs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 224.25 Td (have been satisfactorily completed. Dry-dock frequency is a statutory requirement mandated by SOLAS. Our ships ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 212.25 Td (dry-dock once or twice every five years, depending on the age of the ship.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.78 212.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 188.25 Td (National, r) Tj ET Q q 0 0 0 rg BT 131.43 188.25 Td (egional, state and local authorities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.03 188.25 Td ( ) Tj ET Q q 0 0 0 rg BT 282.35 188.25 Td (W) Tj ET Q q 0 0 0 rg BT 290.99 188.25 Td (e are subject to the decrees, directives, regulations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 176.25 Td (requirements of the European Union \(EU\), the U.S., U.S. states and hundreds of other international ports that our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 164.25 Td (ships visit every year) Tj ET Q q 0 0 0 rg BT 169.65 164.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.15 164.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 140.25 Td (Port r) Tj ET Q q 0 0 0 rg BT 111.13 140.25 Td (egulatory authorities \(Port State Contr) Tj ET Q q 0 0 0 rg BT 277.03 140.25 Td (ol\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.47 140.25 Td ( Our ships are also subject to inspection by the port regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 128.25 Td (authorities, which are also referred to as Port State Control, in the various countries that they visit. Such inspections ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 116.25 Td (include verification of compliance with the maritime safety) Tj ET Q q 0 0 0 rg BT 322.26 116.25 Td (, security) Tj ET Q q 0 0 0 rg BT 358.27 116.25 Td (, environmental, customs, immigration, health and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 104.25 Td (labor requirements applicable to each port, as well as with regional, national and international requirements.Many ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 92.25 Td (countries have joined together to form regional port regulatory authorities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.69 92.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 68.25 Td (As members of the Cruise Line International ) Tj ET Q q 0 0 0 rg BT 230.29 68.25 Td (Association \(CLIA\), we helped to develop and have implemented policies that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 56.25 Td (are intended to enhance shipboard safety throughout the cruise industry) Tj ET Q q 0 0 0 rg BT 334.60 56.25 Td (. In some cases this calls for implementing best ) Tj ET Q endstream endobj 51 0 obj <> endobj 52 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (practices, which are in excess of existing legal requirements. Further details on these and other policies can be found on ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.0784313725490196 0.2823529411764706 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 726.7669921875 m 120.8818359375 726.7669921875 l s q 0.0784313725490196 0.2823529411764706 1 rg BT 49.50 728.10 Td (www) Tj ET Q q 0.0784313725490196 0.2823529411764706 1 rg BT 70.52 728.10 Td (.cruising.or) Tj ET Q q 0.0784313725490196 0.2823529411764706 1 rg BT 115.88 728.10 Td (g) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 120.88 728.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.38 728.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (Our BODs have HESS Committees, which were comprised of four independent directors during 2018. ) Tj ET Q q 0 0 0 rg BT 462.01 704.10 Td (The principal function of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (the HESS Committees is to assist the boards in fulfilling their responsibility to supervise and monitor our health, environment, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (safety) Tj ET Q q 0 0 0 rg BT 72.73 680.10 Td (, security and sustainability related policies, programs and initiatives at sea and ashore and compliance with related legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (and regulatory requirements. ) Tj ET Q q 0 0 0 rg BT 167.05 668.10 Td (The HESS Committees and our management team review all significant relevant risks or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (exposures and associated mitigating actions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.46 656.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 632.10 Td (e are committed to implementing appropriate measures to manage identified risks ef) Tj ET Q q 0 0 0 rg BT 394.79 632.10 Td (fectively) Tj ET Q q 0 0 0 rg BT 429.12 632.10 Td (. ) Tj ET Q q 0 0 0 rg BT 433.94 632.10 Td (W) Tj ET Q q 0 0 0 rg BT 442.58 632.10 Td (e have a Chief Maritime ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (Of) Tj ET Q q 0 0 0 rg BT 59.87 620.10 Td (ficer to oversee our global maritime operations, including maritime quality assurance and policy) Tj ET Q q 0 0 0 rg BT 444.38 620.10 Td (, maritime af) Tj ET Q q 0 0 0 rg BT 495.56 620.10 Td (fairs, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (environmental compliance, shipbuilding, ship refits and research and development. ) Tj ET Q q 0 0 0 rg BT 384.22 608.10 Td (T) Tj ET Q q 0 0 0 rg BT 389.63 608.10 Td (o ensure that we are compliant with legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.10 Td (and regulatory requirements and that these areas of our business operate in an ef) Tj ET Q q 0 0 0 rg BT 370.03 596.10 Td (ficient manner we:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 596.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 572.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 572.10 Td (Provide regular health, environmental, safety and security support, training, guidance and information to guests, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 560.10 Td (employees and others working on our behalf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.79 560.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 548.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 548.10 Td (Develop and implement ef) Tj ET Q q 0 0 0 rg BT 191.67 548.10 Td (fective and verifiable management systems to fulfill our health, environmental, safety) Tj ET Q q 0 0 0 rg BT 533.68 548.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 536.10 Td (security and sustainability commitments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.86 536.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 524.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 524.10 Td (Perform regular shoreside and shipboard audits and take appropriate action when deficiencies are identified) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.61 524.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 512.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 512.10 Td (Report and investigate all health, environmental, safety and security incidents and take appropriate action to prevent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 500.10 Td (recurrence) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.68 500.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 488.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 488.10 Td (Identify those employees 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.25 428.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 404.10 Td (The IMO has adopted safety standards as part of SOLAS. ) Tj ET Q q 0 0 0 rg BT 282.32 404.10 Td (T) Tj ET Q q 0 0 0 rg BT 287.73 404.10 Td (o help ensure guest and crew safety) Tj ET Q q 0 0 0 rg BT 429.25 404.10 Td (, SOLAS establishes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.10 Td (requirements for the following: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.24 392.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 372.17 Td ( ) Tj ET Q q 0 0 0 rg BT 88.50 372.17 Td (V) Tj ET Q q 0 0 0 rg BT 94.61 372.17 Td (essel design and structural features) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.50 372.17 Td ( ) Tj ET Q q 0 0 0 rg BT 352.50 372.17 Td (Life-saving and other equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 358.17 Td ( ) Tj ET Q q 0 0 0 rg BT 88.50 358.17 Td (Construction and materials) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.50 358.17 Td ( ) Tj ET Q q 0 0 0 rg BT 352.50 358.17 Td (Fire protection and detection) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 344.17 Td ( ) Tj ET Q q 0 0 0 rg BT 88.50 344.17 Td (Refurbishment standards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.50 344.17 Td ( ) Tj ET Q q 0 0 0 rg BT 352.50 344.17 Td (Safe management and operation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 330.17 Td ( ) Tj ET Q q 0 0 0 rg BT 88.50 330.17 Td (Radio communications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.50 330.17 Td ( ) Tj ET Q q 0 0 0 rg BT 352.50 330.17 Td (Musters) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 302.10 Td (All of our crew under) Tj ET Q q 0 0 0 rg BT 135.96 302.10 Td (go regular safety training that meets or exceeds all international maritime regulations, including SOLAS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 290.10 Td (requirements which are periodically revised. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.98 290.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 266.10 Td (SOLAS requires implementation of the International Safety Management Code \(ISM Code\), which provides an international ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 254.10 Td (standard for the safe management and operation of ships and for pollution prevention. ) Tj ET Q q 0 0 0 rg BT 395.33 254.10 Td (The ISM Code is mandatory for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 242.10 Td (passenger vessel operators. Under the ISM Code, vessel operators are required to:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.40 242.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 218.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 218.10 Td (Develop a Safety Management System \(SMS\) that includes, among other things, the adoption of safety and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 206.10 Td (environmental protection policies setting forth instructions and procedures for operating vessels safely and describing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 194.10 Td (procedures for responding to emer) Tj ET Q q 0 0 0 rg BT 223.05 194.10 Td (gencies and protecting the environment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.77 194.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 182.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 182.10 Td (Obtain a Document of Compliance \(DOC\) for the vessel operator) Tj ET Q q 0 0 0 rg BT 355.84 182.10 Td (, as well as a Safety Management Certificate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 170.10 Td (\(SMC\) for each vessel they operate.) Tj ET Q q 0 0 0 rg BT 240.53 170.10 Td (These documents are issued by the vessel) Tj ET Q q 0 0 0 rg BT 409.38 170.10 Td (s Flag State and evidence compliance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 158.10 Td (with the SMS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.51 158.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 146.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 146.10 Td (V) Tj ET Q q 0 0 0 rg BT 91.61 146.10 Td (erify or renew DOCs and SMCs periodically in accordance with the ISM Code ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.59 146.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 122.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 122.10 Td (e have implemented and continue to enhance policies and procedures that demonstrate our commitment to the safety of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 110.10 Td (guests and crew) Tj ET Q q 0 0 0 rg BT 112.72 110.10 Td (. ) Tj ET Q q 0 0 0 rg BT 117.54 110.10 Td (These policies and procedures include the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.14 110.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 86.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 86.10 Td (T) Tj ET Q q 0 0 0 rg BT 91.26 86.10 Td (raining of our bridge, engineering and environmental of) Tj ET Q q 0 0 0 rg BT 314.34 86.10 Td (ficers in maritime related best practices at our new CSMAR) Tj ET Q q 0 0 0 rg BT 553.39 86.10 Td (T) Tj ET Q q 0 0 0 rg BT 559.31 86.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 74.10 Td (Academy) Tj ET Q q 0 0 0 rg BT 123.17 74.10 Td (, the Center for Simulator Maritime ) Tj ET Q q 0 0 0 rg BT 267.67 74.10 Td (T) Tj ET Q q 0 0 0 rg BT 273.43 74.10 Td (raining located within our ) Tj ET Q q 0 0 0 rg BT 378.96 74.10 Td (Arison Maritime Center in ) Tj ET Q q 0 0 0 rg BT 487.28 74.10 Td (Almere, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 62.10 Td (Netherlands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.82 62.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 50.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 50.10 Td (Further standardization of our detailed bridge and engine resource management procedures on all of our ships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.52 50.10 Td ( ) Tj ET Q endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 740.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 740.10 Td (Expansion of our existing oversight function to monitor bridge and engine room operations through state of the art ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 728.10 Td (fleet operations centers in Miami, Seattle and Hambur) Tj ET Q q 0 0 0 rg BT 301.92 728.10 Td (g) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.92 728.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 716.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 716.10 Td (Identifying and standardizing best-practice policies and procedures in health, environment, safety and security ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 704.10 Td (disciplines across the entire or) Tj ET Q q 0 0 0 rg BT 206.39 704.10 Td (ganization including on all our ships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.20 704.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 692.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 692.10 Td (Further enhancement of our processes for auditing our HESS performance throughout our operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.28 692.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 112.50 668.10 Td (3. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 130.5 666.53505859375 m 262.140625 666.53505859375 l s q 0 0 0 rg BT 130.50 668.10 Td (Maritime Security Regulations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.14 668.10 Td ( ) Tj ET Q BT 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requirements as to the following: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.51 608.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 584.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 584.10 Td (Implementation of specific security measures, including onboard installation of a ship security alert system) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.72 584.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 572.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 572.10 Td (Assessment of vessel security) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.65 572.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 560.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 560.10 Td (Ef) Tj ET Q q 0 0 0 rg BT 94.76 560.10 Td (forts to identify and deter security threats) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.70 560.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 548.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 548.10 Td (T) Tj ET Q q 0 0 0 rg BT 91.26 548.10 Td (raining, drills and exercises) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.22 548.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 536.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 536.10 Td (Security plans that may include guest, vehicle and baggage screening procedures, security patrols, establishment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 524.10 Td (restricted areas, personnel identification procedures, access control measures and installation of surveillance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 512.10 Td (equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.71 512.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 500.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 500.10 Td (Establishment of procedures and policies for reporting and managing allegations of crimes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.39 500.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 112.50 476.10 Td (4. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 130.5 474.53505859375 m 290.861328125 474.53505859375 l s q 0 0 0 rg BT 130.50 476.10 Td (Maritime Envir) Tj ET Q q 0 0 0 rg BT 197.80 476.10 Td (onmental Regulations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.86 476.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 452.10 Td (e are subject to numerous international, national, state and local environmental laws, regulations and treaties that govern air ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.10 Td (emissions, waste dischar) Tj ET Q q 0 0 0 rg BT 147.91 440.10 Td (ges, water management and disposal, and the storage, handling, use and disposal of hazardous ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 428.10 Td (substances such as chemicals, solvents and paints.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.01 428.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 404.10 Td (As a means of managing and improving our environmental performance and compliance, we adhere to standards set by ISO, an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.10 Td (international standard-setting body) Tj ET Q q 0 0 0 rg BT 188.26 392.10 Td (, which produces worldwide industrial and commercial standards. ) Tj ET Q q 0 0 0 rg BT 453.56 392.10 Td (The environmental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.10 Td (management system of our company and ships is certified in accordance with ISO 14001, the environmental management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.10 Td (standard that was developed to help or) Tj ET Q q 0 0 0 rg BT 203.16 368.10 Td (ganizations manage the environmental impacts of their processes, products and services. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 356.10 Td (ISO 14001 defines an approach to setting and achieving environmental objectives and tar) Tj ET Q q 0 0 0 rg BT 406.43 356.10 Td (gets, within a structured management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.10 Td (framework.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.87 344.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.00 320.10 Td (i. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 139.5 318.53505859375 m 249.2314453125 318.53505859375 l s q 0 0 0 rg BT 139.50 320.10 Td (International Regulations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.23 320.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 296.10 Td (The principal international convention governing marine pollution prevention and response is MARPOL. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.02 296.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 272.10 Td ( ) Tj ET Q q 0 0 0 rg BT 121.50 272.10 Td ( ) Tj ET Q q 0 0 0 rg BT 139.50 272.10 Td (a. ) Tj ET Q q 0 0 0 rg BT 157.50 272.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 167.87 272.10 Td (eventing and Minimizing Pollution) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.94 272.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.10 Td (MARPOL) Tj ET Q q 0 0 0 rg BT 90.80 248.10 Td ( includes four annexes containing requirements designed to prevent and minimize both accidental and operational ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.10 Td (pollution by oil, sewage, garbage and air emissions and sets forth specific requirements related to vessel operations, equipment, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.10 Td (recordkeeping and reporting that are designed to prevent and minimize pollution. ) Tj ET Q q 0 0 0 rg BT 378.57 224.10 Td (All of our ships must carry an International ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.10 Td (Oil Pollution Prevention Certificate, an International Sewage Pollution Prevention Certificate, an International ) Tj ET Q q 0 0 0 rg BT 493.27 212.10 Td (Air Pollution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.10 Td (Prevention Certificate and a Garbage Management Plan. ) Tj ET Q q 0 0 0 rg BT 277.57 200.10 Td (The ship) Tj ET Q q 0 0 0 rg BT 315.06 200.10 Td (s Flag State issues these certificates, which evidence their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.10 Td (compliance with the MARPOL) Tj ET Q q 0 0 0 rg BT 174.39 188.10 Td ( regulations regarding prevention of pollution by oil, sewage, garbage and air emissions. Certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.10 Td (jurisdictions have not adopted all of these MARPOL) Tj ET Q q 0 0 0 rg BT 259.93 176.10 Td ( annexes but have established various national, regional or local laws and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.10 Td (regulations that apply to these areas. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.51 164.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.10 Td (As noted above, MARPOL) Tj ET Q q 0 0 0 rg BT 158.01 140.10 Td ( governs the prevention of pollution by oil from operational measures, as well as from accidental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.10 Td (dischar) Tj ET Q q 0 0 0 rg BT 78.20 128.10 Td (ges. MARPOL) Tj ET Q q 0 0 0 rg BT 137.83 128.10 Td ( requires that dischar) Tj ET Q q 0 0 0 rg BT 221.23 128.10 Td (ges of machinery space bilge water pass through pollution prevention equipment that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.10 Td (separates oil from the water and monitors the dischar) Tj ET Q q 0 0 0 rg BT 261.47 116.10 Td (ged water to ensure that the ef) Tj ET Q q 0 0 0 rg BT 381.79 116.10 Td (fluent does not exceed 15 parts per million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 104.10 Td (oil content and we have voluntarily committed to upgrade the oil separation equipment to the latest MARPOL) Tj ET Q q 0 0 0 rg BT 489.58 104.10 Td ( standards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 92.10 Td (onboard all of our ships by early 2019. Our ships must have oily water separators with oil content monitors installed and must ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 80.10 Td (maintain a record of certain engine room operations in an Oil Record Book. In addition, we have voluntarily installed redundant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 68.10 Td (systems on all of our ships that monitor processed bilge water through dischar) Tj ET Q q 0 0 0 rg BT 361.48 68.10 Td (ge to ensure that it contains no more than 15 parts ) Tj ET Q endstream endobj 55 0 obj <> endobj 56 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (per million oil content. ) Tj ET Q q 0 0 0 rg BT 143.47 740.10 Td (This system provides additional controls to prevent improper bilge water dischar) Tj ET Q q 0 0 0 rg BT 465.99 740.10 Td (ges. MARPOL) Tj ET Q q 0 0 0 rg BT 525.62 740.10 Td ( also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (requires that our ships have Shipboard Oil Pollution Emer) Tj ET Q q 0 0 0 rg BT 281.51 728.10 Td (gency Plans. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.55 728.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (MARPOL) Tj ET Q q 0 0 0 rg BT 90.80 704.10 Td ( also governs the dischar) Tj ET Q q 0 0 0 rg BT 189.49 704.10 Td (ge of sewage from ships and contains regulations regarding the ships) Tj ET Q q 0 0 0 rg BT 467.56 704.10 Td ( equipment and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (systems for the control of sewage dischar) Tj ET Q q 0 0 0 rg BT 214.83 692.10 Td (ge, the provision of facilities at ports and terminals for the reception of sewage and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (requirements for survey and certification. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.77 680.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (MARPOL) Tj ET Q q 0 0 0 rg BT 90.80 656.10 Td ( also governs the dischar) Tj ET Q q 0 0 0 rg BT 189.49 656.10 Td (ge of garbage from ships and requires the implementation of Garbage Management Plan and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.10 Td (the maintenance of a Garbage Record Book. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.43 644.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (Furthermore, MARPOL) Tj ET Q q 0 0 0 rg BT 145.79 620.10 Td ( addresses air emissions from vessels, establishes requirements for the prevention of air pollution from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (ships to reduce emissions of sulfur \(SOx\), nitrogen \(NOx\) and particulate matter) Tj ET Q q 0 0 0 rg BT 388.85 608.10 Td (. It also contains restrictions on the use of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.10 Td (ozone depleting substances \(ODS\) and requires the recording of ODS use, equipment containing ODS and the emission of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.10 Td (ODS.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 584.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td ( ) Tj ET Q q 0 0 0 rg BT 139.50 560.10 Td (b. ) Tj ET Q q 0 0 0 rg BT 157.50 560.10 Td (Sulfur) Tj ET Q q 0 0 0 rg BT 184.55 560.10 Td ( Emissions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 229.84 560.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td (MARPOL) Tj ET Q q 0 0 0 rg BT 90.80 536.10 Td ( also addresses air emissions from vessels in both auxiliary and main propulsion diesel engines on ships and further ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.10 Td (specifies requirements for Emission Control ) Tj ET Q q 0 0 0 rg BT 228.08 524.10 Td (Areas \(ECAs\) with stricter limitations on sulfur emissions in these areas.Since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 512.10 Td (2015, ships operating in a number of regions throughout the world have been required to use fuel with a sulfur content of no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 500.10 Td (more than 0.1% or 0.5% \(depending on the ECA\), or to use alternative emission reduction methods, such as advanced air ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.10 Td (quality systems. ) Tj ET Q q 0 0 0 rg BT 115.89 488.10 Td (Additional local and regional ECAs have come into force since 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.87 488.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.10 Td (The International Maritime Or) Tj ET Q q 0 0 0 rg BT 171.22 464.10 Td (ganization) Tj ET Q q 0 0 0 rg BT 215.65 464.10 Td (s Marine Environment Protection Committee has agreed to implement a global 0.5% ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.10 Td (sulfur cap for marine fuel beginning in 2020. ) Tj ET Q q 0 0 0 rg BT 231.77 452.10 Td (The EU Parliament and Council have also set a 2020 implementation date for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.10 Td (their 0.5% sulfur content fuel requirement \(the EU Sulfur Directive\). ) Tj ET Q q 0 0 0 rg BT 335.88 440.10 Td (The options to comply with both the global 0.5% sulfur ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 428.10 Td (cap and the EU Sulfur Directive include the use of low sulfur fuel, installation of advanced air quality systems, or the use of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 416.10 Td (alternative fuels, which may increase our fuel costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.92 416.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 392.10 Td (e have been installing advanced air quality systems on our ships. ) Tj ET Q q 0 0 0 rg BT 319.01 392.10 Td (These ef) Tj ET Q q 0 0 0 rg BT 352.97 392.10 Td (forts are mitigating much of the impact from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.10 Td (ECA) Tj ET Q q 0 0 0 rg BT 68.95 380.10 Td ( requirements. Given the installation schedule, we expect to use a greater percentage of low sulfur fuel in 2020, which may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.10 Td (increase our fuel costs. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.63 368.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.50 344.10 Td (c. ) Tj ET Q q 0 0 0 rg BT 157.50 344.10 Td (Other) Tj ET Q q 0 0 0 rg BT 182.87 344.10 Td ( Ship Emission ) Tj ET Q q 0 0 0 rg BT 248.18 344.10 Td (Abatement Methods) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.11 344.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.10 Td (In the long-term, the cost impacts of meeting progressively lower sulfur emission requirements may be further mitigated by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.10 Td (favorable impact of future changes in the supply and demand balance for marine and other types of fuel, future developments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 296.10 Td (and investments in improved sulfur emission abatement technologies, the use of alternative lower cost and lower emission fuels ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.10 Td (and our continued ef) Tj ET Q q 0 0 0 rg BT 131.79 284.10 Td (forts to improve the overall fuel ef) Tj ET Q q 0 0 0 rg BT 269.34 284.10 Td (ficiency across our fleet. Since 2007, we have achieved approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.10 Td (30% cumulative reduction in unit fuel consumption by focusing on more ef) Tj ET Q q 0 0 0 rg BT 350.64 272.10 Td (ficient itineraries, a wide variety of ships) Tj ET Q q 0 0 0 rg BT 516.79 272.10 Td ( system ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.10 Td (hardware and software, ener) Tj ET Q q 0 0 0 rg BT 162.59 260.10 Td (gy-ef) Tj ET Q q 0 0 0 rg BT 183.51 260.10 Td (ficiency upgrades \(including hull coatings, air conditioning and engine performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.10 Td (improvement\), creating collaborative ener) Tj ET Q q 0 0 0 rg BT 217.58 248.10 Td (gy-savings groups across operating lines and ship) Tj ET Q q 0 0 0 rg BT 418.66 248.10 Td (s staf) Tj ET Q q 0 0 0 rg BT 439.30 248.10 Td (f ener) Tj ET Q q 0 0 0 rg BT 462.16 248.10 Td (gy use awareness and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.10 Td (training.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.10 236.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.10 Td (As part of our emission abatement program, we have continued our work with several local port authorities to utilize cruise ship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.10 Td (shore power connections and have equipped 47 ships with the capability to utilize shore power technology) Tj ET Q q 0 0 0 rg BT 474.57 200.10 Td (. ) Tj ET Q q 0 0 0 rg BT 479.39 200.10 Td (This technology ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.10 Td (enables our ships to use power from the local electricity provider rather than running their engines while in port to power their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.10 Td (onboard services, thus reducing our ship air emissions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.13 176.10 Td ( ) Tj ET Q endstream endobj 57 0 obj <> endobj 58 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (Similarly) Tj ET Q q 0 0 0 rg BT 86.07 740.10 Td (, in an ef) Tj ET Q q 0 0 0 rg BT 120.88 740.10 Td (fort to extend our commitment to sustainability and to play a leading role in matters of environmental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (protection in the cruise industry) Tj ET Q q 0 0 0 rg BT 176.04 728.10 Td (, we are expanding our investment in the use of low carbon fuels, in particular) Tj ET Q q 0 0 0 rg BT 487.77 728.10 Td (, LNG:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.10 728.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 704.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 704.10 Td (AIDAprima ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.66 704.10 Td (and) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.10 704.10 Td ( ) Tj ET Q q 0 0 0 rg BT 151.42 704.10 Td (AIDAperla ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.79 704.10 Td (are) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 210.00 704.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.50 704.10 Td (the first cruise ships in the world that regularly use dual-fuel engines for an ener) Tj ET Q q 0 0 0 rg BT 532.78 704.10 Td (gy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 692.10 Td (supply with LNG while in ports on Northern European and other itineraries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.38 692.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 668.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 668.10 Td (AIDAnova) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.71 668.10 Td ( will be the first cruise ship in the world with the ability to use LNG to generate 100 percent of its power ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 656.10 Td (both in port and on the open sea. ) Tj ET Q q 0 0 0 rg BT 218.35 656.10 Td (W) Tj ET Q q 0 0 0 rg BT 226.98 656.10 Td (e have 1) Tj ET Q q 0 0 0 rg BT 259.93 656.10 Td (1 next generation LNG cruise ships on order) Tj ET Q q 0 0 0 rg BT 437.54 656.10 Td (, including ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.81 656.10 Td (AIDAnova) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.02 656.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 644.10 Td (entering the fleet in December 2018. ) Tj ET Q q 0 0 0 rg BT 234.43 644.10 Td (These innovative ships will reduce exhaust emissions to help protect the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 632.10 Td (environment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.04 632.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td ( ) Tj ET Q q 0 0 0 rg BT 139.50 608.10 Td (d. ) Tj ET Q q 0 0 0 rg BT 157.50 608.10 Td (Gr) Tj ET Q q 0 0 0 rg BT 169.54 608.10 Td (eenhouse Gas Emissions \(GHG\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.39 608.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.10 Td (In 2013, the IMO approved measures to improve ener) Tj ET Q q 0 0 0 rg BT 264.53 584.10 Td (gy ef) Tj ET Q q 0 0 0 rg BT 284.62 584.10 Td (ficiency and reduce emissions of GHGs from international shipping ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.10 Td (by adopting technical and operational measures for all ships. ) Tj ET Q q 0 0 0 rg BT 294.25 572.10 Td (The technical measures apply to the design of new vessels, and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td (operational reduction measures apply to all vessels. Operational reduction measures have been implemented through a variety ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.10 Td (of means, including a Ship Ener) Tj ET Q q 0 0 0 rg BT 177.63 548.10 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 199.38 548.10 Td (ficiency Management Plan, improved voyage planning and more frequent propeller and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td (hull cleanings. ) Tj ET Q q 0 0 0 rg BT 110.14 536.10 Td (W) Tj ET Q q 0 0 0 rg BT 118.78 536.10 Td (e have established objectives within the ISO 14001 environmental management system for each of our brands ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.10 Td (to further reduce fuel consumption rates and the resulting GHG emissions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.98 524.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 500.10 Td (In 2016, the IMO approved the implementation of a mandatory data collection system for fuel oil consumption. ) Tj ET Q q 0 0 0 rg BT 497.82 500.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.10 Td (amendment will require ships of 5,000 gross tons and above to provide fuel oil consumption data to their respective flag State at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.10 Td (the end of each calendar year) Tj ET Q q 0 0 0 rg BT 165.97 476.10 Td (, formally beginning in 2019. Flag States will then validate the data and transfer it to an IMO ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.10 Td (database. ) Tj ET Q q 0 0 0 rg BT 88.74 464.10 Td (The IMO will produce an annual report with anonymous data. In early 2018, the IMO also committed to several ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.10 Td (shipping industry GHG emission reduction goals with 2030 and 2050 tar) Tj ET Q q 0 0 0 rg BT 340.40 452.10 Td (get dates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.17 452.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 428.10 Td ( ) Tj ET Q q 0 0 0 rg BT 139.50 428.10 Td (e. ) Tj ET Q q 0 0 0 rg BT 157.50 428.10 Td (Ballast ) Tj ET Q q 0 0 0 rg BT 189.27 428.10 Td (W) Tj ET Q q 0 0 0 rg BT 198.72 428.10 Td (ater) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 215.74 428.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 404.10 Td (In 2017, MARPOL) Tj ET Q q 0 0 0 rg BT 126.63 404.10 Td ( began to govern the dischar) Tj ET Q q 0 0 0 rg BT 239.47 404.10 Td (ge of ballast water from ships through the MARPOL) Tj ET Q q 0 0 0 rg BT 450.18 404.10 Td ( Ballast ) Tj ET Q q 0 0 0 rg BT 482.77 404.10 Td (W) Tj ET Q q 0 0 0 rg BT 491.41 404.10 Td (ater Management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.10 Td (Convention. However) Tj ET Q q 0 0 0 rg BT 137.42 392.10 Td (, amendments were made to the regulation that ef) Tj ET Q q 0 0 0 rg BT 334.66 392.10 Td (fectively extend the implementation date for existing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.10 Td (ships by two years. Ballast water is seawater used to stabilize ships at sea and maintain safe operating conditions throughout a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.10 Td (voyage. Ballast can carry a multitude of marine species. ) Tj ET Q q 0 0 0 rg BT 275.62 368.10 Td (The Convention is designed to regulate the treatment of ballast water ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 356.10 Td (prior to dischar) Tj ET Q q 0 0 0 rg BT 110.41 356.10 Td (ging overboard in order to avoid the transfer of marine species to new environments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.20 356.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 130.50 332.10 Td (ii. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 144 330.53505859375 m 292.8916015625 330.53505859375 l s q 0 0 0 rg BT 144.00 332.10 Td (U.S. Federal and State Regulations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.89 332.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.00 308.10 Td (Act to Prevent Pollution from Ships authorizes the implementation of several MARPOL) Tj ET Q q 0 0 0 rg BT 419.63 308.10 Td ( ) Tj ET Q q 0 0 0 rg BT 421.58 308.10 Td (Annexes in the U.S. and imposes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 296.10 Td (numerous requirements on our ships, as discussed above. ) Tj ET Q q 0 0 0 rg BT 280.02 296.10 Td (Administrative, civil and criminal penalties may be assessed for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.10 Td (violations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.94 284.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.10 Td (The Oil Pollution ) Tj ET Q q 0 0 0 rg BT 121.45 260.10 Td (Act of 1990 \(OP) Tj ET Q q 0 0 0 rg BT 191.35 260.10 Td (A) Tj ET Q q 0 0 0 rg BT 198.02 260.10 Td ( 90\) established a comprehensive federal liability regime, as well as prevention and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.10 Td (response requirements, relating to dischar) Tj ET Q q 0 0 0 rg BT 216.21 248.10 Td (ges of oil in U.S. waters. ) Tj ET Q q 0 0 0 rg BT 317.41 248.10 Td (The major requirements include demonstrating financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.10 Td (responsibility up to the liability limits and having oil spill response plans in place. ) Tj ET Q q 0 0 0 rg BT 379.56 236.10 Td (W) Tj ET Q q 0 0 0 rg BT 388.20 236.10 Td (e have Certificates of Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.10 Td (Responsibility that demonstrate our ability to meet the maximum amount of OP) Tj ET Q q 0 0 0 rg BT 367.70 224.10 Td (A) Tj ET Q q 0 0 0 rg BT 374.37 224.10 Td ( 90 related liability that our ships could be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.10 Td (subject to for removal costs and damages, such as from an oil spill or a release of a hazardous substance. Under OP) Tj ET Q q 0 0 0 rg BT 509.83 212.10 Td (A) Tj ET Q q 0 0 0 rg BT 516.50 212.10 Td ( 90, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.10 Td (owners or operators of vessels operating in U.S. waters must file ) Tj ET Q q 0 0 0 rg BT 310.10 200.10 Td (V) Tj ET Q q 0 0 0 rg BT 316.21 200.10 Td (essel Response Plans with the U.S. Coast Guard and must ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.10 Td (operate in compliance with these plans. ) Tj ET Q q 0 0 0 rg BT 209.17 188.10 Td (As OP) Tj ET Q q 0 0 0 rg BT 234.65 188.10 Td (A) Tj ET Q q 0 0 0 rg BT 241.32 188.10 Td ( 90 expressly allows coastal states to impose liabilities and requirements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.10 Td (beyond those imposed under federal law) Tj ET Q q 0 0 0 rg BT 210.75 176.10 Td (, many U.S. states have enacted laws more stringent than OP) Tj ET Q q 0 0 0 rg BT 452.83 176.10 Td (A) Tj ET Q q 0 0 0 rg BT 459.50 176.10 Td ( 90. Some of these state ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.10 Td (laws impose unlimited liability for oil spills and contain more stringent financial responsibility and contingency planning ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 152.10 Td (requirements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.70 152.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.10 Td (The Clean ) Tj ET Q q 0 0 0 rg BT 93.19 128.10 Td (W) Tj ET Q q 0 0 0 rg BT 101.83 128.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 118.76 128.10 Td (Act \(CW) Tj ET Q q 0 0 0 rg BT 158.47 128.10 Td (A\) provides the U.S. Environmental Protection ) Tj ET Q q 0 0 0 rg BT 352.88 128.10 Td (Agency \(EP) Tj ET Q q 0 0 0 rg BT 405.00 128.10 Td (A\) with the authority to regulate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.10 Td (commercial vessels) Tj ET Q q 0 0 0 rg BT 130.12 116.10 Td ( incidental dischar) Tj ET Q q 0 0 0 rg BT 203.24 116.10 Td (ges of ballast water) Tj ET Q q 0 0 0 rg BT 280.31 116.10 Td (, bilge water) Tj ET Q q 0 0 0 rg BT 329.61 116.10 Td (, gray water) Tj ET Q q 0 0 0 rg BT 376.69 116.10 Td (, anti-fouling paints and other substances ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 104.10 Td (during normal operations within the U.S. three mile territorial sea and inland waters. Pursuant to the CW) Tj ET Q q 0 0 0 rg BT 467.46 104.10 Td (A) Tj ET Q q 0 0 0 rg BT 474.13 104.10 Td ( authority) Tj ET Q q 0 0 0 rg BT 512.08 104.10 Td (, the U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 92.10 Td (National Pollutant Dischar) Tj ET Q q 0 0 0 rg BT 155.96 92.10 Td (ge Elimination System was designed to minimize pollution within U.S. territorial waters. For our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 80.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.09 80.10 Td (fected ships, all of the requirements are laid out in EP) Tj ET Q q 0 0 0 rg BT 270.83 80.10 Td (A) Tj ET Q q 0 0 0 rg BT 276.94 80.10 Td () Tj ET Q q 0 0 0 rg BT 279.72 80.10 Td (s ) Tj ET Q q 0 0 0 rg BT 285.93 80.10 Td (V) Tj ET Q q 0 0 0 rg BT 292.04 80.10 Td (essel General Permit \(VGP\) for dischar) Tj ET Q q 0 0 0 rg BT 458.19 80.10 Td (ges incidental to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 68.10 Td (normal operations of vessels. ) Tj ET Q q 0 0 0 rg BT 168.46 68.10 Td (The ) Tj ET Q q 0 0 0 rg BT 186.33 68.10 Td (VGP) Tj ET Q q 0 0 0 rg BT 205.96 68.10 Td ( establishes ef) Tj ET Q q 0 0 0 rg BT 261.87 68.10 Td (fluent limits for 27 specific dischar) Tj ET Q q 0 0 0 rg BT 401.93 68.10 Td (ges incidental to the normal operation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 56.10 Td (of a vessel.In addition to these dischar) Tj ET Q q 0 0 0 rg BT 204.83 56.10 Td (ge and vessel specific requirements, the ) Tj ET Q q 0 0 0 rg BT 365.98 56.10 Td (VGP) Tj ET Q q 0 0 0 rg BT 385.61 56.10 Td ( includes requirements for inspections, ) Tj ET Q endstream endobj 59 0 obj <> endobj 60 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (monitoring, reporting and record-keeping. ) Tj ET Q q 0 0 0 rg BT 220.38 740.10 Td (The United States government recently passed the ) Tj ET Q q 0 0 0 rg BT 423.19 740.10 Td (V) Tj ET Q q 0 0 0 rg BT 429.30 740.10 Td (essel Incidental Dischar) Tj ET Q q 0 0 0 rg BT 524.64 740.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 536.03 740.10 Td (Act ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (\(VIDA\), an act that will clarify and streamline dischar) Tj ET Q q 0 0 0 rg BT 266.18 728.10 Td (ge requirements for the waste streams covered by the ) Tj ET Q q 0 0 0 rg BT 481.19 728.10 Td (VGP) Tj ET Q q 0 0 0 rg BT 500.83 728.10 Td ( and added a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (new Clean ) Tj ET Q q 0 0 0 rg BT 94.30 716.10 Td (W) Tj ET Q q 0 0 0 rg BT 102.94 716.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 119.88 716.10 Td (Act Section called Uniform National Standards for Dischar) Tj ET Q q 0 0 0 rg BT 361.01 716.10 Td (ges Incidental to Normal Operation of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (V) Tj ET Q q 0 0 0 rg BT 55.61 704.10 Td (essels.) Tj ET Q q 0 0 0 rg BT 88.20 704.10 Td (VIDA) Tj ET Q q 0 0 0 rg BT 112.64 704.10 Td ( will eventually eliminate the ) Tj ET Q q 0 0 0 rg BT 231.59 704.10 Td (VGP; however) Tj ET Q q 0 0 0 rg BT 290.91 704.10 Td (, while the standards and regulations are being developed, the 2013 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (VGP) Tj ET Q q 0 0 0 rg BT 69.13 692.10 Td ( has been administratively extended. ) Tj ET Q q 0 0 0 rg BT 217.24 692.10 Td (There is uncertainty over what to expect with ) Tj ET Q q 0 0 0 rg BT 400.88 692.10 Td (VIDA, including the limits to which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (VIDA) Tj ET Q q 0 0 0 rg BT 73.94 680.10 Td ( will apply and the mechanism through which state-specific standards would be implemented.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.12 680.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 656.10 Td (e are subject to the requirements of the U.S. Resource Conservation and Recovery ) Tj ET Q q 0 0 0 rg BT 388.87 656.10 Td (Act for the transportation and disposal of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.10 Td (both hazardous and non-hazardous solid wastes that are generated by our ships. In general, vessel owners are required to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (determine if their wastes are hazardous, comply with certain standards for the proper management of hazardous wastes and use ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (hazardous waste manifests for shipments to approved disposal facilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.04 620.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.10 Td (The U.S. National Invasive Species ) Tj ET Q q 0 0 0 rg BT 193.64 596.10 Td (Act \(NISA\) was enacted in response to growing reports of harmful or) Tj ET Q q 0 0 0 rg BT 480.31 596.10 Td (ganisms being ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.10 Td (released into U.S. waters through ballast water taken on by vessels in foreign waters. ) Tj ET Q q 0 0 0 rg BT 391.17 584.10 Td (The U.S. Coast Guard adopted regulations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.10 Td (under NISA) Tj ET Q q 0 0 0 rg BT 97.55 572.10 Td ( that impose mandatory ballast water management practices for all vessels equipped with ballast water tanks ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td (entering U.S. waters. ) Tj ET Q q 0 0 0 rg BT 135.96 560.10 Td (These requirements can be met by performing mid-ocean ballast exchange, by retaining ballast water ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.10 Td (onboard the vessel or by using environmentally sound ballast water treatment methods approved by the U.S. Coast Guard. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.78 548.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.10 Td (Most U.S. states that border navigable waterways or sea coasts have also enacted environmental regulations that impose strict ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 512.10 Td (liability for removal costs and damages resulting from a dischar) Tj ET Q q 0 0 0 rg BT 304.52 512.10 Td (ge of oil or a release of a hazardous substance. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.05 512.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.10 Td (The state of ) Tj ET Q q 0 0 0 rg BT 98.65 488.10 Td (Alaska has enacted legislation that prohibits certain dischar) Tj ET Q q 0 0 0 rg BT 335.89 488.10 Td (ges in designated ) Tj ET Q q 0 0 0 rg BT 406.71 488.10 Td (Alaskan waters and sets ef) Tj ET Q q 0 0 0 rg BT 512.61 488.10 Td (fluent limits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.10 Td (on others. Further) Tj ET Q q 0 0 0 rg BT 120.48 476.10 Td (, the state requires that certain dischar) Tj ET Q q 0 0 0 rg BT 271.62 476.10 Td (ges be reported and monitored to verify compliance with the standards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.10 Td (established by the legislation. Environmental regimes in ) Tj ET Q q 0 0 0 rg BT 276.12 464.10 Td (Alaska are more stringent than the U.S. federal requirements with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.10 Td (regard to dischar) Tj ET Q q 0 0 0 rg BT 116.51 452.10 Td (ges from vessels. ) Tj ET Q q 0 0 0 rg BT 187.43 452.10 Td (The legislation also provides that repeat violators of the regulations could be prohibited from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.10 Td (operating in ) Tj ET Q q 0 0 0 rg BT 99.49 440.10 Td (Alaskan waters. ) Tj ET Q q 0 0 0 rg BT 165.68 440.10 Td (The state of California also has environmental requirements significantly more stringent than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 428.10 Td (federal requirements for water dischar) Tj ET Q q 0 0 0 rg BT 202.02 428.10 Td (ges and air emissions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.78 428.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 404.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 130.50 404.10 Td (iii. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 144 402.53505859375 m 210.953125 402.53505859375 l s q 0 0 0 rg BT 144.00 404.10 Td (EU Regulations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 210.95 404.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.10 Td (The EU has adopted a broad range of substantial environmental measures aimed at improving the quality of the environment for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.10 Td (European citizens. ) Tj ET Q q 0 0 0 rg BT 125.68 368.10 Td (T) Tj ET Q q 0 0 0 rg BT 131.09 368.10 Td (o support the implementation and enforcement of European environmental legislation, the EU has adopted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 356.10 Td (directives on environmental liability and enforcement and a recommendation providing for minimum criteria for environmental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.10 Td (inspections.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 344.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.10 Td (The European Commission) Tj ET Q q 0 0 0 rg BT 161.71 320.10 Td (s \(EC\) strategy is to reduce atmospheric emissions from ships. ) Tj ET Q q 0 0 0 rg BT 422.30 320.10 Td (The EC strategy seeks to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.10 Td (implement SOx Emission Control ) Tj ET Q q 0 0 0 rg BT 187.28 308.10 Td (Areas set out in MARPOL, as discussed above. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.48 308.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.10 Td (The EC has also implemented regulations aimed at reducing GHG emissions from maritime shipping through a Monitoring, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.10 Td (Reporting and ) Tj ET Q q 0 0 0 rg BT 108.75 272.10 Td (V) Tj ET Q q 0 0 0 rg BT 114.87 272.10 Td (erification \(MR) Tj ET Q q 0 0 0 rg BT 180.98 272.10 Td (V\) regulation, which began collecting emissions data in 2018 from ships over 5,000 gross ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.10 Td (tons to monitor and report their carbon emissions on all voyages to, from and between European Union ports.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.46 260.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 236.10 Td ( ) Tj ET Q q 0 0 0 rg BT 112.50 236.10 Td (5. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 130.5 234.53505859375002 m 255.48046875 234.53505859375002 l s q 0 0 0 rg BT 130.50 236.10 Td (Maritime Health Regulations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.48 236.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 212.10 Td (e are committed to providing a healthy environment for all of our guests and crew) Tj ET Q q 0 0 0 rg BT 385.16 212.10 Td (. ) Tj ET Q q 0 0 0 rg BT 389.98 212.10 Td (W) Tj ET Q q 0 0 0 rg BT 398.62 212.10 Td (e collaborate with public health ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.10 Td (inspection programs throughout the world, such as the Centers for Disease Control and Prevention in the U.S. \(CDC\) and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.10 Td (SHIPSAN Project in the EU to ensure that development of these programs leads to enhanced health and hygiene onboard our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.10 Td (ships. ) Tj ET Q q 0 0 0 rg BT 74.88 176.10 Td (Through our collaborative ef) Tj ET Q q 0 0 0 rg BT 189.93 176.10 Td (forts, we work with the authorities to develop and revise guidelines, review plans and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.10 Td (conduct on-site inspections for all newbuilds and significant ship renovations. In addition, we continue to maintain our ships by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 152.10 Td (meeting, and often exceeding, applicable public health guidelines and requirements, complying with inspections, reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.10 Td (communicable illnesses and conducting regular crew training and guest education programs. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.66 140.10 Td ( ) Tj ET Q endstream endobj 61 0 obj <> endobj 62 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 112.50 740.10 Td (6. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 130.5 738.53505859375 m 253.0830078125 738.53505859375 l s q 0 0 0 rg BT 130.50 740.10 Td (Maritime Labor) Tj ET Q q 0 0 0 rg BT 200.02 740.10 Td ( Regulations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.08 740.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (The ) Tj ET Q q 0 0 0 rg BT 69.83 716.10 Td (International ) Tj ET Q q 0 0 0 rg BT 125.69 716.10 Td (Labor ) Tj ET Q q 0 0 0 rg BT 154.35 716.10 Td (Or) Tj ET Q q 0 0 0 rg BT 164.72 716.10 Td (ganization ) Tj ET Q q 0 0 0 rg BT 211.15 716.10 Td (develops ) Tj ET Q q 0 0 0 rg BT 251.48 716.10 Td (and ) Tj ET Q q 0 0 0 rg BT 270.70 716.10 Td (oversees ) Tj ET Q q 0 0 0 rg BT 309.90 716.10 Td (international ) Tj ET Q q 0 0 0 rg BT 365.22 716.10 Td (labor ) Tj ET Q q 0 0 0 rg BT 390.55 716.10 Td (standards ) Tj ET Q q 0 0 0 rg BT 433.09 716.10 Td (and ) Tj ET Q q 0 0 0 rg BT 452.31 716.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 490.42 716.10 Td (a ) Tj ET Q q 0 0 0 rg BT 499.63 716.10 Td (broad ) Tj ET Q q 0 0 0 rg BT 527.18 716.10 Td (range ) Tj ET Q q 0 0 0 rg BT 554.17 716.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (requirements, ) Tj ET Q q 0 0 0 rg BT 106.65 704.10 Td (such ) Tj ET Q q 0 0 0 rg BT 127.43 704.10 Td (as ) Tj ET Q q 0 0 0 rg BT 138.21 704.10 Td (the ) Tj ET Q q 0 0 0 rg BT 152.87 704.10 Td (definition ) Tj ET Q q 0 0 0 rg BT 194.20 704.10 Td (of ) Tj ET Q q 0 0 0 rg BT 204.98 704.10 Td (a ) Tj ET Q q 0 0 0 rg BT 211.87 704.10 Td (seafarer) Tj ET Q q 0 0 0 rg BT 243.11 704.10 Td (, ) Tj ET Q q 0 0 0 rg BT 248.05 704.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 289.40 704.10 Td (age ) Tj ET Q q 0 0 0 rg BT 305.72 704.10 Td (of ) Tj ET Q q 0 0 0 rg BT 316.50 704.10 Td (seafarers, ) Tj ET Q q 0 0 0 rg BT 356.98 704.10 Td (medical ) Tj ET Q q 0 0 0 rg BT 391.07 704.10 Td (certificates, ) Tj ET Q q 0 0 0 rg BT 439.88 704.10 Td (recruitment ) Tj ET Q q 0 0 0 rg BT 488.42 704.10 Td (practices, ) Tj ET Q q 0 0 0 rg BT 528.90 704.10 Td (training, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (repatriation, ) Tj ET Q q 0 0 0 rg BT 100.59 692.10 Td (food, ) Tj ET Q q 0 0 0 rg BT 123.92 692.10 Td (recreational ) Tj ET Q q 0 0 0 rg BT 173.61 692.10 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 213.04 692.10 Td (health ) Tj ET Q q 0 0 0 rg BT 239.97 692.10 Td (and ) Tj ET Q q 0 0 0 rg BT 256.91 692.10 Td (welfare, ) Tj ET Q q 0 0 0 rg BT 291.88 692.10 Td (hours ) Tj ET Q q 0 0 0 rg BT 316.60 692.10 Td (of ) Tj ET Q q 0 0 0 rg BT 327.43 692.10 Td (work ) Tj ET Q q 0 0 0 rg BT 350.49 692.10 Td (and ) Tj ET Q q 0 0 0 rg BT 367.42 692.10 Td (rest, ) Tj ET Q q 0 0 0 rg BT 386.86 692.10 Td (accommodations, ) Tj ET Q q 0 0 0 rg BT 459.62 692.10 Td (wages ) Tj ET Q q 0 0 0 rg BT 487.11 692.10 Td (and ) Tj ET Q q 0 0 0 rg BT 504.05 692.10 Td (entitlements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.43 692.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.07 668.10 Td (International ) Tj ET Q q 0 0 0 rg BT 122.17 668.10 Td (Convention ) Tj ET Q q 0 0 0 rg BT 171.86 668.10 Td (on ) Tj ET Q q 0 0 0 rg BT 184.88 668.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 227.33 668.10 Td (of ) Tj ET Q q 0 0 0 rg BT 238.47 668.10 Td (T) Tj ET Q q 0 0 0 rg BT 244.22 668.10 Td (raining, ) Tj ET Q q 0 0 0 rg BT 278.07 668.10 Td (Certification ) Tj ET Q q 0 0 0 rg BT 331.62 668.10 Td (and ) Tj ET Q q 0 0 0 rg BT 348.86 668.10 Td (W) Tj ET Q q 0 0 0 rg BT 357.50 668.10 Td (atchkeeping ) Tj ET Q q 0 0 0 rg BT 408.83 668.10 Td (for ) Tj ET Q q 0 0 0 rg BT 423.51 668.10 Td (Seafarers, ) Tj ET Q q 0 0 0 rg BT 466.22 668.10 Td (as ) Tj ET Q q 0 0 0 rg BT 477.57 668.10 Td (amended, ) Tj ET Q q 0 0 0 rg BT 519.19 668.10 Td (establishes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 91.99 656.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 133.38 656.10 Td (standards ) Tj ET Q q 0 0 0 rg BT 173.65 656.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 206.69 656.10 Td (to ) Tj ET Q q 0 0 0 rg BT 216.97 656.10 Td (training, ) Tj ET Q q 0 0 0 rg BT 253.07 656.10 Td (including ) Tj ET Q q 0 0 0 rg BT 293.35 656.10 Td (security ) Tj ET Q q 0 0 0 rg BT 327.50 656.10 Td (training, ) Tj ET Q q 0 0 0 rg BT 363.61 656.10 Td (certification ) Tj ET Q q 0 0 0 rg BT 414.41 656.10 Td (and ) Tj ET Q q 0 0 0 rg BT 431.35 656.10 Td (watchkeeping ) Tj ET Q q 0 0 0 rg BT 489.38 656.10 Td (for ) Tj ET Q q 0 0 0 rg BT 503.54 656.10 Td (our ) Tj ET Q q 0 0 0 rg BT 519.37 656.10 Td (seafarers. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.90 656.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 632.10 Td (b. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 103.5 630.53505859375 m 306.400390625 630.53505859375 l s q 0 0 0 rg BT 103.50 632.10 Td (Consumer) Tj ET Q q 0 0 0 rg BT 147.76 632.10 Td ( Financial Responsibility Regulations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.40 632.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (In most major countries where we source our guests, we are required to establish financial responsibility) Tj ET Q q 0 0 0 rg BT 466.51 608.10 Td (, such as obtaining a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.10 Td (guarantee from financially stable financial institutions and insurance companies, to satisfy liability in cases of our non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.10 Td (performance of obligations to our guests. ) Tj ET Q q 0 0 0 rg BT 216.22 584.10 Td (The amount of financial responsibility varies by jurisdiction based on the amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.10 Td (mandated by the applicable local regulatory agencies or association. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.89 572.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.10 Td (In ) Tj ET Q q 0 0 0 rg BT 59.78 548.10 Td (Australia and most of Europe, we may be obligated to honor our guests) Tj ET Q q 0 0 0 rg BT 347.58 548.10 Td ( cruise payments made by them to their travel agents ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td (and tour operators regardless of whether we receive these payments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.72 536.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 512.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 65.50 512.10 Td (XX. ) Tj ET Q q 0 0 0 rg BT 85.50 512.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 87.90966796875 510.53505859375 m 125.2412109375 510.53505859375 l s q 0 0 0 rg BT 87.82 512.10 Td (T) Tj ET Q q 0 0 0 rg BT 93.57 512.10 Td (axation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 125.24 512.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.17 488.10 Td ( summary of our principal taxes and exemptions in the jurisdictions where our significant operations are located is as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.10 488.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 464.10 Td (a. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 103.5 462.53505859375 m 173.5146484375 462.53505859375 l s q 0 0 0 rg BT 103.50 464.10 Td (U.S. Income ) Tj ET Q q 0 0 0 rg BT 157.76 464.10 Td (T) Tj ET Q q 0 0 0 rg BT 163.51 464.10 Td (ax) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 440.10 Td (e are primarily foreign corporations engaged in the business of operating cruise ships in international transportation. ) Tj ET Q q 0 0 0 rg BT 524.77 440.10 Td (W) Tj ET Q q 0 0 0 rg BT 533.41 440.10 Td (e also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 428.10 Td (own and operate, among other businesses, the U.S. hotel and transportation business of Holland ) Tj ET Q q 0 0 0 rg BT 434.43 428.10 Td (America Princess ) Tj ET Q q 0 0 0 rg BT 506.63 428.10 Td (Alaska ) Tj ET Q q 0 0 0 rg BT 536.72 428.10 Td (T) Tj ET Q q 0 0 0 rg BT 542.13 428.10 Td (ours ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 416.10 Td (through U.S. corporations.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.10 Td (Our North ) Tj ET Q q 0 0 0 rg BT 92.83 392.10 Td (American cruise ship businesses and certain ship-owning subsidiaries are engaged in a trade or business within the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.10 Td (U.S.Depending on its itinerary) Tj ET Q q 0 0 0 rg BT 173.83 380.10 Td (, any particular ship may generate income from sources within the U.S. ) Tj ET Q q 0 0 0 rg BT 461.07 380.10 Td (W) Tj ET Q q 0 0 0 rg BT 469.71 380.10 Td (e believe that our U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.10 Td (source income and the income of our ship-owning subsidiaries, to the extent derived from, or incidental to, the international ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 356.10 Td (operation of a ship or ships, is currently exempt from U.S. federal income and branch profit taxes. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.10 Td (Our domestic U.S. operations, principally the hotel and transportation business of Holland ) Tj ET Q q 0 0 0 rg BT 412.49 332.10 Td (America Princess ) Tj ET Q q 0 0 0 rg BT 484.70 332.10 Td (Alaska ) Tj ET Q q 0 0 0 rg BT 514.78 332.10 Td (T) Tj ET Q q 0 0 0 rg BT 520.19 332.10 Td (ours, are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.10 Td (subject to federal and state income taxation in the U.S.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 103.50 296.10 Td (1. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 121.5 294.53505859375 m 361.490234375 294.53505859375 l s q 0 0 0 rg BT 121.50 296.10 Td (Application of Section 883 of the Internal Revenue Code) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.49 296.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.10 Td (In general, under Section 883 of the Internal Revenue Code, certain non-U.S. corporations \(such as our North ) Tj ET Q q 0 0 0 rg BT 489.65 272.10 Td (American cruise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.10 Td (ship businesses\) are not subject to U.S. federal income tax or branch profits tax on U.S. source income derived from, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.10 Td (incidental to, the international operation of a ship or ships. ) Tj ET Q q 0 0 0 rg BT 285.00 248.10 Td (Applicable U.S. ) Tj ET Q q 0 0 0 rg BT 351.48 248.10 Td (T) Tj ET Q q 0 0 0 rg BT 357.23 248.10 Td (reasury regulations provide in general that a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.10 Td (foreign corporation will qualify for the benefits of Section 883 if, in relevant part, \(i\) the foreign country in which the foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.10 Td (corporation is or) Tj ET Q q 0 0 0 rg BT 115.41 224.10 Td (ganized grants an equivalent exemption to corporations or) Tj ET Q q 0 0 0 rg BT 347.66 224.10 Td (ganized in the U.S. in respect of each category of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.10 Td (shipping income for which an exemption is being claimed under Section 883 \(an equivalent exemption jurisdiction\) and \(ii\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.10 Td (the foreign corporation meets a defined publicly-traded corporation stock ownership test \(the publicly-traded test\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.10 Td (Subsidiaries of foreign corporations that are or) Tj ET Q q 0 0 0 rg BT 235.93 188.10 Td (ganized in an equivalent exemption jurisdiction and meet the publicly-traded test ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.10 Td (also benefit from Section 883. ) Tj ET Q q 0 0 0 rg BT 172.63 176.10 Td (W) Tj ET Q q 0 0 0 rg BT 181.26 176.10 Td (e believe that Panama is an equivalent exemption jurisdiction and that Carnival Corporation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.10 Td (currently satisfies the publicly-traded test under the regulations. ) Tj ET Q q 0 0 0 rg BT 306.37 164.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 355.71 164.10 Td (, substantially all of Carnival Corporation) Tj ET Q q 0 0 0 rg BT 525.12 164.10 Td (s income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 152.10 Td (is exempt from U.S. federal income and branch profit taxes. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.10 Td (Regulations under Section 883 list certain activities that the Internal Revenue Service \(IRS\) does not consider to be incidental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.10 Td (to the international operation of ships and, therefore, the income attributable to such activities, to the extent such income is U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 104.10 Td (source, does not qualify for the Section 883 exemption. ) Tj ET Q q 0 0 0 rg BT 273.06 104.10 Td (Among the activities identified as not incidental are income from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 92.10 Td (sale of air transportation, transfers, shore excursions and pre- and post-cruise land packages to the extent earned from sources ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 80.10 Td (within the U.S.) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 63 0 obj <> endobj 64 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 103.50 740.25 Td (2. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 121.5 738.68505859375 m 334.390625 738.68505859375 l s q 0 0 0 rg BT 121.50 740.25 Td (Exemption Under) Tj ET Q q 0 0 0 rg BT 197.71 740.25 Td ( ) Tj ET Q q 0 0 0 rg BT 199.66 740.25 Td (Applicable Income ) Tj ET Q q 0 0 0 rg BT 282.26 740.25 Td (T) Tj ET Q q 0 0 0 rg BT 288.01 740.25 Td (ax ) Tj ET Q q 0 0 0 rg BT 300.33 740.25 Td (T) Tj ET Q q 0 0 0 rg BT 306.26 740.25 Td (r) Tj ET Q q 0 0 0 rg BT 310.51 740.25 Td (eaties) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.39 740.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 716.25 Td (e believe that the U.S. source transportation income earned by Carnival plc and its subsidiaries currently qualifies for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (exemption from U.S. federal income tax under applicable bilateral U.S. income tax treaties.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 103.50 680.25 Td (3. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 121.5 678.68505859375 m 215.6748046875 678.68505859375 l s q 0 0 0 rg BT 121.50 680.25 Td (U.S. State Income ) Tj ET Q q 0 0 0 rg BT 199.92 680.25 Td (T) Tj ET Q q 0 0 0 rg BT 205.67 680.25 Td (ax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 215.67 680.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.25 Td (Carnival Corporation and Carnival plc and certain of their subsidiaries are subject to various U.S. state income taxes generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.25 Td (imposed on each state) Tj ET Q q 0 0 0 rg BT 140.31 644.25 Td (s portion of the U.S. source income subject to U.S. federal income taxes. However) Tj ET Q q 0 0 0 rg BT 469.82 644.25 Td (, the state of ) Tj ET Q q 0 0 0 rg BT 520.64 644.25 Td (Alaska ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.25 Td (imposes an income tax on its allocated portion of the total income of our companies doing business in ) Tj ET Q q 0 0 0 rg BT 458.87 632.25 Td (Alaska and certain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.25 Td (their subsidiaries.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 596.25 Td (b. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 103.5 594.68505859375 m 236.8642578125 594.68505859375 l s q 0 0 0 rg BT 103.50 596.25 Td (UK and ) Tj ET Q q 0 0 0 rg BT 139.07 596.25 Td (Australian Income ) Tj ET Q q 0 0 0 rg BT 221.11 596.25 Td (T) Tj ET Q q 0 0 0 rg BT 226.86 596.25 Td (ax) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.25 Td (Cunard, P&O Cruises \(UK\) and P&O Cruises \(Australia\) are divisions of Carnival plc and have elected to enter the UK tonnage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (tax under a rolling ten-year term and, accordingly) Tj ET Q q 0 0 0 rg BT 247.66 560.25 Td (, reapply every year) Tj ET Q q 0 0 0 rg BT 326.51 560.25 Td (. Companies to which the tonnage tax regime applies pay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.25 Td (corporation taxes on profits calculated by reference to the net tonnage of qualifying ships. UK corporation tax is not char) Tj ET Q q 0 0 0 rg BT 533.05 548.25 Td (geable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.25 Td (under the normal UK tax rules on these brands) Tj ET Q q 0 0 0 rg BT 238.70 536.25 Td ( relevant shipping income. Relevant shipping income includes income from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.25 Td (operation of qualifying ships and from shipping related activities.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (For a company to be eligible for the regime, it must be subject to UK corporation tax and, among other matters, operate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.25 Td (qualifying ships that are strategically and commercially managed in the UK. Companies within UK tonnage tax are also subject ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.25 Td (to a seafarer training requirement.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.25 Td (Our UK non-shipping activities that do not qualify under the UK tonnage tax regime remain subject to normal UK corporation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.25 Td (tax. Dividends received from subsidiaries of Carnival plc doing business outside the UK are generally exempt from UK ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 428.25 Td (corporation tax.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 404.25 Td (P&O Cruises \(Australia\) and all of the other cruise ships operated internationally by Carnival plc for the cruise segment of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.25 Td (Australian vacation region are exempt from ) Tj ET Q q 0 0 0 rg BT 226.10 392.25 Td (Australian corporation tax by virtue of the UK/Australian income tax treaty) Tj ET Q q 0 0 0 rg BT 527.58 392.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 368.25 Td (c. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 103.5 366.68505859375 m 240.7412109375 366.68505859375 l s q 0 0 0 rg BT 103.50 368.25 Td (Italian and German Income ) Tj ET Q q 0 0 0 rg BT 224.99 368.25 Td (T) Tj ET Q q 0 0 0 rg BT 230.74 368.25 Td (ax) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.25 Td (In early 2015, Costa and ) Tj ET Q q 0 0 0 rg BT 149.48 344.25 Td (AIDA) Tj ET Q q 0 0 0 rg BT 173.92 344.25 Td ( re-elected to enter the Italian tonnage tax regime through 2024 and can reapply for an additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.25 Td (ten-year period beginning in early 2025. Companies to which the tonnage tax regime applies pay corporation taxes on shipping ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.25 Td (profits calculated by reference to the net tonnage of qualifying ships. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 296.25 Td (Most of Costa) Tj ET Q q 0 0 0 rg BT 108.95 296.25 Td (s and ) Tj ET Q q 0 0 0 rg BT 131.73 296.25 Td (AIDA) Tj ET Q q 0 0 0 rg BT 155.61 296.25 Td () Tj ET Q q 0 0 0 rg BT 158.39 296.25 Td (s earnings that are not eligible for taxation under the Italian tonnage tax regime will be taxed at an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.09 284.25 Td (fective tax rate of 4.8%.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.25 Td (Substantially all of ) Tj ET Q q 0 0 0 rg BT 127.00 260.25 Td (AIDA) Tj ET Q q 0 0 0 rg BT 150.88 260.25 Td () Tj ET Q q 0 0 0 rg BT 153.66 260.25 Td (s earnings are exempt from German income taxes by virtue of the Germany/Italy income tax treaty) Tj ET Q q 0 0 0 rg BT 548.14 260.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.64 260.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 236.25 Td (d. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 103.5 234.68505859375 m 279.7255859375 234.68505859375 l s q 0 0 0 rg BT 103.50 236.25 Td (Asian Countries Income and Other) Tj ET Q q 0 0 0 rg BT 253.32 236.25 Td ( ) Tj ET Q q 0 0 0 rg BT 255.64 236.25 Td (T) Tj ET Q q 0 0 0 rg BT 261.40 236.25 Td (axes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.73 236.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.25 Td (Substantially all of our brands) Tj ET Q q 0 0 0 rg BT 172.63 212.25 Td ( income from their international operations in ) Tj ET Q q 0 0 0 rg BT 356.74 212.25 Td (Asian countries is exempt from income tax by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.25 Td (virtue of relevant income tax treaties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.88 200.25 Td ( In addition, the income is exempt from indirect taxes in China under relevant income tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.25 Td (treaties and other circulars.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.78 188.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 164.25 Td (e. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 103.5 162.68505859375 m 128.95654296875 162.68505859375 l s q 0 0 0 rg BT 103.50 164.25 Td (Other) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.25 Td (In addition to or in place of income taxes, virtually all jurisdictions where our ships call impose taxes, fees and other char) Tj ET Q q 0 0 0 rg BT 535.01 140.25 Td (ges ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.25 Td (based on guest counts, ship tonnage, passenger capacity or some other measure.) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 65 0 obj <> endobj 66 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td ( ) Tj ET Q q 0 0 0 rg BT 58.50 740.25 Td (XXI. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 84.24462890625 738.68505859375 m 274.69140625 738.68505859375 l s q 0 0 0 rg BT 84.15 740.25 Td (T) Tj ET Q q 0 0 0 rg BT 90.08 740.25 Td (rademarks and Other) Tj ET Q q 0 0 0 rg BT 183.23 740.25 Td ( Intellectual Pr) Tj ET Q q 0 0 0 rg BT 246.92 740.25 Td (operty) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 274.69 740.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 716.25 Td (e own, use and/or have registered or licensed numerous trademarks, patents and patent pending designs and technology) Tj ET Q q 0 0 0 rg BT 534.57 716.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (copyrights and domain names, which have considerable value and some of which are widely recognized throughout the world. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.25 Td (These intangible assets enable us to distinguish our cruise products and services, ships and programs from those of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.25 Td (competitors. ) Tj ET Q q 0 0 0 rg BT 101.53 680.25 Td (W) Tj ET Q q 0 0 0 rg BT 110.17 680.25 Td (e own or license the trademarks for the trade names of our cruise brands, each of which we believe is a widely-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.25 Td (recognized brand in the cruise industry) Tj ET Q q 0 0 0 rg BT 204.63 668.25 Td (, as well as our ship names and a wide variety of cruise products and services.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.43 668.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 644.25 Td ( ) Tj ET Q q 0 0 0 rg BT 58.50 644.25 Td (XXII. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 88.2265625 642.68505859375 m 141.556640625 642.68505859375 l s q 0 0 0 rg BT 88.23 644.25 Td (Competition) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 141.56 644.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 620.25 Td (e compete with land-based vacation alternatives throughout the world, such as hotels, resorts \(including all-inclusive resorts\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.25 Td (theme parks, or) Tj ET Q q 0 0 0 rg BT 111.24 608.25 Td (ganized tours, casinos, vacation ownership properties, and other internet-based alternative lodging sites. Based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.25 Td (on the most recent G.P) Tj ET Q q 0 0 0 rg BT 139.76 596.25 Td (. ) Tj ET Q q 0 0 0 rg BT 144.58 596.25 Td (W) Tj ET Q q 0 0 0 rg BT 153.62 596.25 Td (ild Cruise Industry Statistical Review) Tj ET Q q 0 0 0 rg BT 302.95 596.25 Td (, we, along with our principal cruise competitors Royal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.25 Td (Caribbean Cruises Ltd., Norwegian Cruise Line Holdings, Ltd. and MSC Cruises, carry approximately 84% of all global cruise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.25 Td (guests. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 572.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 548.25 Td (D. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 66.63134765625 546.68505859375 m 322.078125 546.68505859375 l s q 0 0 0 rg BT 66.54 548.25 Td (W) Tj ET Q q 0 0 0 rg BT 75.99 548.25 Td (ebsite ) Tj ET Q q 0 0 0 rg BT 102.38 548.25 Td (Access to Carnival Corporation & plc SEC Reports) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.08 548.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 524.25 Td (e use our websites as channels of distribution of company information. Our Form 10-K, joint Quarterly Reports on Form 10-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 512.25 Td (Q, joint Current Reports on Form 8-K, joint Proxy Statement related to our annual shareholders meeting, Section 16 filings and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (all amendments to those reports are available free of char) Tj ET Q q 0 0 0 rg BT 278.38 500.25 Td (ge at ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11764705882352941 0.13333333333333333 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 300.037109375 498.9169921875 m 393.240234375 498.9169921875 l s q 0.11764705882352941 0.13333333333333333 1 rg BT 300.04 500.25 Td (www) Tj ET Q q 0.11764705882352941 0.13333333333333333 1 rg BT 321.05 500.25 Td (.carnivalcorp.com) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 393.24 500.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11764705882352941 0.13333333333333333 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 412.6787109375 498.9169921875 m 500.330078125 498.9169921875 l s q 0.11764705882352941 0.13333333333333333 1 rg BT 412.68 500.25 Td (www) Tj ET Q q 0.11764705882352941 0.13333333333333333 1 rg BT 433.69 500.25 Td (.carnivalplc.com) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 500.33 500.25 Td ( and on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.25 Td (SEC) Tj ET Q q 0 0 0 rg BT 70.62 488.25 Td (s website at ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11764705882352941 0.13333333333333333 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 119.7734375 486.9169921875 m 173.5576171875 486.9169921875 l s q 0.11764705882352941 0.13333333333333333 1 rg BT 119.77 488.25 Td (www) Tj ET Q q 0.11764705882352941 0.13333333333333333 1 rg BT 140.79 488.25 Td (.sec.gov) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 173.56 488.25 Td ( as soon as reasonably practicable after we have electronically filed or furnished these reports ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.25 Td (with the SEC. In addition, you may automatically receive email alerts and other information when you enroll your email ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.25 Td (address by visiting the Investor Services section of our websites. ) Tj ET Q q 0 0 0 rg BT 310.10 464.25 Td (The content of any website referred to in this document is not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.25 Td (incorporated by reference into this document.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 452.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 428.25 Td (E. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 66.169921875 426.68505859375 m 179.7880859375 426.68505859375 l s q 0 0 0 rg BT 66.17 428.25 Td (Industry and Market Data) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 179.79 428.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 404.25 Td (This document includes market share and industry data and forecasts that we obtained from industry publications, third-party ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.25 Td (surveys and internal company surveys. Industry publications, including those from CLIA, G.P) Tj ET Q q 0 0 0 rg BT 425.28 392.25 Td (. ) Tj ET Q q 0 0 0 rg BT 430.10 392.25 Td (W) Tj ET Q q 0 0 0 rg BT 439.13 392.25 Td (ild, and surveys and forecasts, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.25 Td (including those from ) Tj ET Q q 0 0 0 rg BT 134.77 380.25 Td (AST) Tj ET Q q 0 0 0 rg BT 152.86 380.25 Td (A, generally state that the information contained therein has been obtained from sources believed to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.25 Td (be reliable. CLIA) Tj ET Q q 0 0 0 rg BT 119.20 368.25 Td ( is a non-profit marketing and training or) Tj ET Q q 0 0 0 rg BT 282.59 368.25 Td (ganization formed in 1975 to promote cruising and of) Tj ET Q q 0 0 0 rg BT 496.80 368.25 Td (fer support and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 356.25 Td (training for the travel agent community in North ) Tj ET Q q 0 0 0 rg BT 245.01 356.25 Td (America.CLIA) Tj ET Q q 0 0 0 rg BT 307.21 356.25 Td ( participates in the regulatory and policy development process ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.25 Td (while supporting measures that foster a safe, secure and healthy cruise ship environment. In addition, CLIA) Tj ET Q q 0 0 0 rg BT 479.38 344.25 Td ( facilitates strategic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.25 Td (relationships between cruise industry suppliers and or) Tj ET Q q 0 0 0 rg BT 264.27 332.25 Td (ganizations, cruise lines, ports and shipyards and provides a forum for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.25 Td (interaction with governmental agencies. ) Tj ET Q q 0 0 0 rg BT 211.39 320.25 Td (All CLIA) Tj ET Q q 0 0 0 rg BT 249.45 320.25 Td ( information, obtained from the CLIA) Tj ET Q q 0 0 0 rg BT 400.53 320.25 Td ( website ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11764705882352941 0.13333333333333333 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 436.072265625 318.9169921875 m 507.4541015625 318.9169921875 l s q 0.11764705882352941 0.13333333333333333 1 rg BT 436.07 320.25 Td (www) Tj ET Q q 0.11764705882352941 0.13333333333333333 1 rg BT 457.09 320.25 Td (.cruising.or) Tj ET Q q 0.11764705882352941 0.13333333333333333 1 rg BT 502.45 320.25 Td (g) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 507.45 320.25 Td (, relates to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.25 Td (the CLIA) Tj ET Q q 0 0 0 rg BT 87.00 308.25 Td ( member cruise lines. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.85 308.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.85 308.25 Td (, CLIA) Tj ET Q q 0 0 0 rg BT 233.63 308.25 Td ( represents over 50 cruise brands that operate more than 95% of cruise industry ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 296.25 Td (capacity) Tj ET Q q 0 0 0 rg BT 82.16 296.25 Td (. G.P) Tj ET Q q 0 0 0 rg BT 102.07 296.25 Td ( ) Tj ET Q q 0 0 0 rg BT 104.39 296.25 Td (W) Tj ET Q q 0 0 0 rg BT 113.43 296.25 Td (ild is an authoritative source of cruise industry statistics and publishes a number of reports and industry ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (reviews. ) Tj ET Q q 0 0 0 rg BT 85.05 284.25 Td (All G.P) Tj ET Q q 0 0 0 rg BT 114.50 284.25 Td (. ) Tj ET Q q 0 0 0 rg BT 119.32 284.25 Td (W) Tj ET Q q 0 0 0 rg BT 128.36 284.25 Td (ild information is obtained from their annual Cruise Industry Statistical Review) Tj ET Q q 0 0 0 rg BT 445.42 284.25 Td (. ) Tj ET Q q 0 0 0 rg BT 449.87 284.25 Td (All other references to third ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.25 Td (party information are publicly available at nominal or no cost. ) Tj ET Q q 0 0 0 rg BT 300.08 272.25 Td (W) Tj ET Q q 0 0 0 rg BT 308.71 272.25 Td (e use the most currently available industry and market data to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.25 Td (support statements as to our market positions. ) Tj ET Q q 0 0 0 rg BT 234.48 260.25 Td (Although we believe that the industry publications and third-party sources are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.25 Td (reliable, we have not independently verified any of the data. Similarly) Tj ET Q q 0 0 0 rg BT 328.75 248.25 Td (, while we believe our internal estimates with respect to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.25 Td (our industry are reliable, they have not been verified by any independent sources. ) Tj ET Q q 0 0 0 rg BT 377.26 236.25 Td (While we are not aware of any misstatements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (regarding any industry data presented herein, our estimates, in particular as they relate to market share and our general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.25 Td (expectations, involve risks and uncertainties and are subject to change based on various factors, including those discussed under) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.85 212.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.25 Td (Part I, Item 1A. Risk Factors and Exhibit 13, Management) Tj ET Q q 0 0 0 rg BT 286.13 200.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 355.30 200.25 Td (Analysis of Financial Condition and Results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.25 Td (Operations, in this Form 10-K.) Tj ET Q endstream endobj 67 0 obj <> endobj 68 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 730.25 Td (Item 1A. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 91.7119140625 728.68505859375 m 145.8720703125 728.68505859375 l s q 0 0 0 rg BT 91.71 730.25 Td (Risk Factors) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 145.87 730.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.25 Td (Y) Tj ET Q q 0 0 0 rg BT 55.72 706.25 Td (ou should carefully consider the specific risk factors set forth below and the other information contained or incorporated by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.25 Td (reference in this document, as these are important factors that could cause our actual results, performance or achievements to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.25 Td (dif) Tj ET Q q 0 0 0 rg BT 60.43 682.25 Td (fer materially from our expected or historical results. Some of the statements in this item and elsewhere in this document are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.25 Td (forward-looking statements.For a discussion of those statements and of other factors to consider see the Cautionary Note ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (Concerning Factors ) Tj ET Q q 0 0 0 rg BT 130.41 658.25 Td (That May ) Tj ET Q q 0 0 0 rg BT 171.52 658.25 Td (Af) Tj ET Q q 0 0 0 rg BT 181.89 658.25 Td (fect Future Results section below) Tj ET Q q 0 0 0 rg BT 318.98 658.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.48 658.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 628.85 Td (The ordering and lettering of the risk factors set forth below is not intended to reflect any Company indication of priority or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 616.85 Td (likelihood.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.55 616.85 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 592.85 Td (a. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.32 592.85 Td (Adverse world events impacting the ability or desir) Tj ET Q q 0 0 0 rg BT 263.64 592.85 Td (e of people to travel may lead to a decline in demand for cruises) Tj ET Q BT /F3 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 568.85 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 568.85 Td (e may be impacted by the public) Tj ET Q q 0 0 0 rg BT 190.87 568.85 Td (s concerns regarding the safety and security of travel, including government travel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 556.85 Td (advisories and travel restrictions, political instability and civil unrest, and other general concerns. ) Tj ET Q q 0 0 0 rg BT 440.50 556.85 Td (Additionally) Tj ET Q q 0 0 0 rg BT 490.40 556.85 Td (, we may be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 544.85 Td (impacted by heightened regulations around customs and border control, travel bans to and from certain geographical areas, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 532.85 Td (government policies increasing the dif) Tj ET Q q 0 0 0 rg BT 202.61 532.85 Td (ficulty of travel and limitations on issuing international travel visas. ) Tj ET Q q 0 0 0 rg BT 475.98 532.85 Td (W) Tj ET Q q 0 0 0 rg BT 484.62 532.85 Td (e may also be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 520.85 Td (impacted by adverse changes in the perceived or actual economic climate, such as global or regional recessions, higher ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 508.85 Td (unemployment and underemployment rates and declines in income levels. In 2019, uncertainties resulting from the UK) Tj ET Q q 0 0 0 rg BT 529.09 508.85 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 496.85 Td (expected exit from the European Union may impact our business.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.65 496.85 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 472.85 Td (b. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.50 472.85 Td (Incidents concerning our ships, guests or the cruise vacation industry as well as adverse weather conditions and other ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 58.50 460.85 Td (natural disasters may impact the satisfaction of our guests and cr) Tj ET Q q 0 0 0 rg BT 320.35 460.85 Td (ew and lead to r) Tj ET Q q 0 0 0 rg BT 384.97 460.85 Td (eputational damage) Tj ET Q BT /F3 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 436.85 Td (Our operations involve the risk of incidents and media coverage thereof. Such incidents include, but are not limited to, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 424.85 Td (improper operation or maintenance of ships, motorcoaches and trains; guest and crew illnesses; mechanical failures, fires and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 412.85 Td (collisions; repair delays, groundings and navigational errors; oil spills and other maritime and environmental issues as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 400.85 Td (other incidents at sea or while in port or on land which may cause guest and crew discomfort, injury) Tj ET Q q 0 0 0 rg BT 449.02 400.85 Td (, or death. ) Tj ET Q q 0 0 0 rg BT 490.95 400.85 Td (Although our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 388.85 Td (commitment to the safety and comfort of our guests and crew is paramount to the success of our business, our ships have been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 376.85 Td (involved in accidents and other incidents in the past and we may experience similar or other incidents in the future.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.91 376.85 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 364.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 352.85 Td (Our cruise ships, hotels, land tours, port and related commercial facilities and shore excursions may be impacted by adverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 340.85 Td (weather patterns or other natural disasters, such as hurricanes, earthquakes, floods, fires, tornados, tsunamis, typhoons and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 328.85 Td (volcanic eruptions. It is possible that we could be forced to alter itineraries or cancel a cruise or a series of cruises or tours due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 316.85 Td (to these or other types of disruptions. In addition, these and any other events which impact the travel industry more generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 304.85 Td (may negatively impact our guests) Tj ET Q q 0 0 0 rg BT 186.50 304.85 Td ( or crew) Tj ET Q q 0 0 0 rg BT 222.03 304.85 Td (s ability or desire to travel to or from our ships and/or interrupt the supply of critical ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 292.85 Td (goods and services.) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 268.85 Td (c. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 58.94 268.85 Td (Changes in and non-compliance with laws and r) Tj ET Q q 0 0 0 rg BT 252.73 268.85 Td (egulations under which we operate, such as those r) Tj ET Q q 0 0 0 rg BT 457.62 268.85 Td (elating to health, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 58.50 256.85 Td (envir) Tj ET Q q 0 0 0 rg BT 78.68 256.85 Td (onment, safety and security) Tj ET Q q 0 0 0 rg BT 187.54 256.85 Td (, data privacy and pr) Tj ET Q q 0 0 0 rg BT 271.33 256.85 Td (otection, anti-corruption, economic sanctions, trade pr) Tj ET Q q 0 0 0 rg BT 490.93 256.85 Td (otection and tax ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 58.50 244.85 Td (may lead to litigation, enfor) Tj ET Q q 0 0 0 rg BT 170.06 244.85 Td (cement actions, fines, penalties, and r) Tj ET Q q 0 0 0 rg BT 320.78 244.85 Td (eputational damage) Tj ET Q BT /F3 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 220.85 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 220.85 Td (e are subject to numerous international, national, state and local laws, regulations, treaties and other legal requirements that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 208.85 Td (govern health, environmental, safety and security matters in relation to our guests, crew and ships. ) Tj ET Q q 0 0 0 rg BT 445.04 208.85 Td (These requirements change ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 196.85 Td (regularly) Tj ET Q q 0 0 0 rg BT 84.94 196.85 Td (, sometimes on a daily basis, depending on the itineraries of our ships and the ports and countries visited. If we violate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 184.85 Td (or fail to comply with any of these laws, regulations, treaties and other requirements we could be, and have previously been, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 172.85 Td (fined or otherwise sanctioned by regulators. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.50 172.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 148.85 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 148.85 Td (e are subject to laws and requirements related to the treatment and protection of sensitive data in the jurisdictions where we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 136.85 Td (operate. ) Tj ET Q q 0 0 0 rg BT 83.74 136.85 Td (V) Tj ET Q q 0 0 0 rg BT 89.86 136.85 Td (arious governments, agencies and regulatory or) Tj ET Q q 0 0 0 rg BT 279.06 136.85 Td (ganizations have enacted or are considering new rules and regulations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 124.85 Td (In the course of doing business, we collect guest, employee, company and other third-party data, including personally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 112.85 Td (identifiable information and other sensitive data. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.38 112.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 88.85 Td (Our operations subject us to potential liability under anti-corruption laws and regulations. ) Tj ET Q q 0 0 0 rg BT 410.07 88.85 Td (W) Tj ET Q q 0 0 0 rg BT 418.71 88.85 Td (e may also be af) Tj ET Q q 0 0 0 rg BT 483.50 88.85 Td (fected by economic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 76.85 Td (sanctions, trade protection laws, policies and other regulatory requirements af) Tj ET Q q 0 0 0 rg BT 360.05 76.85 Td (fecting trade and investment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.12 76.85 Td ( ) Tj ET Q endstream endobj 69 0 obj <> endobj 70 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 742.10 Td (e are also subject to compliance with tax laws, regulations and treaties in the jurisdictions in which we are incorporated or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 730.10 Td (operate. ) Tj ET Q q 0 0 0 rg BT 83.74 730.10 Td (These tax laws, regulations and treaties are subject to change at any time, which may result in substantially higher tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 718.10 Td (liabilities. ) Tj ET Q q 0 0 0 rg BT 91.17 718.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 141.07 718.10 Td (, the relevant authorities) Tj ET Q q 0 0 0 rg BT 240.29 718.10 Td ( interpretation of tax laws, regulations and treaties could dif) Tj ET Q q 0 0 0 rg BT 478.92 718.10 Td (fer materially from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.10 Td (ours. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.72 706.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 682.10 Td (d. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 58.50 682.10 Td (Br) Tj ET Q q 0 0 0 rg BT 68.13 682.10 Td (eaches in data security and lapses in data privacy as well as disruptions and other damages to our principal offices, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 58.50 670.10 Td (information technology operations and system networks and failur) Tj ET Q q 0 0 0 rg BT 324.50 670.10 Td (e to keep pace with developments in technology may ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 58.50 658.10 Td (adversely impact our business operations, the satisfaction of our guests and cr) Tj ET Q q 0 0 0 rg BT 372.55 658.10 Td (ew and lead to r) Tj ET Q q 0 0 0 rg BT 437.18 658.10 Td (eputational damage) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 516.89 658.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.89 658.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 634.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 634.10 Td (e may be impacted by breaches in data security and lapses in data privacy) Tj ET Q q 0 0 0 rg BT 352.09 634.10 Td (, which occur from time to time. ) Tj ET Q q 0 0 0 rg BT 483.82 634.10 Td (These can vary in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 622.10 Td (scope and intent from economically driven attacks to malicious attacks tar) Tj ET Q q 0 0 0 rg BT 345.89 622.10 Td (geting our key operating systems with the intent to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 610.10 Td (disrupt or compromise our shoreside and shipboard operations. Like many companies, we have been and continue to be subject ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 598.10 Td (to unauthorized access or use of digital systems and networks through human error or for purposes of misappropriating assets or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 586.10 Td (obtaining sensitive financial, medical or other personal or business information.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.59 586.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 562.10 Td (Our principal of) Tj ET Q q 0 0 0 rg BT 113.74 562.10 Td (fices, information technology operations and system networks may be impacted by actual or threatened natural ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 550.10 Td (disasters \(for example, hurricanes, earthquakes, floods, fires, tornados, tsunamis, typhoons and volcanic eruptions\) or other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 538.10 Td (disruptive events. Our maritime and/or shoreside operations, including our ability to manage our inventory of cabins held for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 526.10 Td (sale and set pricing, control costs, and serve our guests, depends on the reliability of our information technology operations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 514.10 Td (system networks as well as our ability to refine and update to more advanced systems and technologies.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.11 514.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.11 514.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 490.10 Td (e. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 58.50 490.10 Td (Ability to r) Tj ET Q q 0 0 0 rg BT 101.46 490.10 Td (ecruit, develop and r) Tj ET Q q 0 0 0 rg BT 184.40 490.10 Td (etain qualified shipboar) Tj ET Q q 0 0 0 rg BT 280.14 490.10 Td (d personnel who live away fr) Tj ET Q q 0 0 0 rg BT 395.58 490.10 Td (om home for extended periods of time ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 58.50 478.10 Td (may adversely impact our business operations, guest services and satisfaction) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.68 478.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 454.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 454.10 Td (e hire a significant number of qualified shipboard personnel each year and, thus, our ability to adequately recruit, develop and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 442.10 Td (retain these individuals is critical to our success. Incidents involving cruise ships and the related adverse media publicity) Tj ET Q q 0 0 0 rg BT 530.94 442.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 430.10 Td (adverse economic conditions that negatively af) Tj ET Q q 0 0 0 rg BT 237.31 430.10 Td (fect our profitability and increasing demand as a result of our and the industry) Tj ET Q q 0 0 0 rg BT 551.94 430.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 418.10 Td (projected growth could negatively impact our ability to recruit, develop and retain suf) Tj ET Q q 0 0 0 rg BT 392.26 418.10 Td (ficient qualified shipboard personnel. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.16 418.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 394.10 Td (f. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 58.50 394.10 Td (Incr) Tj ET Q q 0 0 0 rg BT 74.79 394.10 Td (eases in fuel prices and availability of fuel supply may adversely impact our scheduled itineraries and costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.32 394.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 373.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 373.10 Td (e may be impacted by economic, market and political conditions around the world, such as fuel demand, regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 361.10 Td (requirements, supply disruptions and related infrastructure needs, which make it dif) Tj ET Q q 0 0 0 rg BT 383.67 361.10 Td (ficult to predict the future price and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 349.10 Td (availability of fuel. Future increases in the global price of fuel would increase the cost of our cruise ship operations as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 337.10 Td (some of our other expenses, such as crew travel, freight and commodity prices. Increases in airfares, which could result from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 325.10 Td (increases in the price of fuel, would increase our guests) Tj ET Q q 0 0 0 rg BT 273.67 325.10 Td ( overall vacation costs as many of our guests depend on airlines to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 313.10 Td (transport them to or from the airports near the ports where our cruises embark and disembark.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 292.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 99.40 292.10 Td (, certain of our ships are designed to use LNG as a fuel source. ) Tj ET Q q 0 0 0 rg BT 352.10 292.10 Td (At this time, the marine LNG distribution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 280.10 Td (infrastructure is in the early stages of development with a limited number of suppliers and purchasing is usually made through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 268.10 Td (long-term contracts. ) Tj ET Q q 0 0 0 rg BT 132.35 268.10 Td (W) Tj ET Q q 0 0 0 rg BT 140.98 268.10 Td (e may experience dif) Tj ET Q q 0 0 0 rg BT 224.37 268.10 Td (ficulties in operating and maintaining new LNG-based engine technology) Tj ET Q q 0 0 0 rg BT 518.08 268.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.58 268.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 244.10 Td (g. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 58.50 244.10 Td (Fluctuations in for) Tj ET Q q 0 0 0 rg BT 133.13 244.10 Td (eign curr) Tj ET Q q 0 0 0 rg BT 169.70 244.10 Td (ency exchange rates may adversely impact our financial r) Tj ET Q q 0 0 0 rg BT 400.92 244.10 Td (esults ) Tj ET Q BT /F3 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 220.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 220.10 Td (e earn revenues, pay expenses, purchase and own assets and incur liabilities in currencies other than the U.S. dollar) Tj ET Q q 0 0 0 rg BT 517.99 220.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 208.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 99.40 208.10 Td (, our shipbuilding contracts are typically denominated in euros. Movements in foreign currency exchange rates will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 196.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.09 196.10 Td (fect our financial results. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.99 196.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 184.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 172.10 Td (h. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 58.50 172.10 Td (Over) Tj ET Q q 0 0 0 rg BT 78.12 172.10 Td (capacity and competition in the cruise and land-based vacation industry may lead to a decline in our cruise sales and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 58.50 160.10 Td (pricing ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 89.89 160.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.30 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 137.30 Td (e may be impacted by increases in capacity in the cruise and land-based vacation industry) Tj ET Q q 0 0 0 rg BT 416.24 137.30 Td (, which may result in capacity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.30 Td (growth beyond demand, either globally or for a region or for a particular itinerary) Tj ET Q q 0 0 0 rg BT 375.40 125.30 Td (. ) Tj ET Q q 0 0 0 rg BT 380.22 125.30 Td (W) Tj ET Q q 0 0 0 rg BT 388.86 125.30 Td (e face competition from other cruise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.30 Td (brands on the basis of overall experience, destinations, types and sizes of ships and cabins, travel agent preferences and value. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.30 Td (In addition, we compete with land-based vacation alternatives throughout the world on the basis of overall experience, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 89.30 Td (destinations and value.) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 140.87 89.30 Td () Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 141.12 89.30 Td ( ) Tj ET Q endstream endobj 71 0 obj <> endobj 72 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (33) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 742.10 Td (i. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 58.50 742.10 Td (Geographic r) Tj ET Q q 0 0 0 rg BT 112.29 742.10 Td (egions in which we try to expand our business may be slow to develop or ultimately not develop how we expect ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.59 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 721.10 Td (As we continue to expand our global presence, it requires, among other things, significant levels of management resources, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 709.10 Td (capital and other investments. For example, we may be required to localize our cruise products and services to conform to local ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 697.10 Td (cultures, standards, policies and regulations. ) Tj ET Q q 0 0 0 rg BT 228.35 697.10 Td (As a result, it may be more dif) Tj ET Q q 0 0 0 rg BT 349.80 697.10 Td (ficult for us to replicate our successful core business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 685.10 Td (models and we may not be able to recover our investments in these markets. In addition, we cannot be certain that these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 673.10 Td (markets, such as China, will ultimately develop as we expect.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.54 673.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 649.10 Td (j. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 58.50 649.10 Td (Inability to implement our shipbuilding pr) Tj ET Q q 0 0 0 rg BT 226.73 649.10 Td (ograms and ship r) Tj ET Q q 0 0 0 rg BT 299.43 649.10 Td (epairs, maintenance and r) Tj ET Q q 0 0 0 rg BT 404.04 649.10 Td (efurbishments may adversely impact ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 58.50 637.10 Td (our business operations and the satisfaction of our guests) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 289.06 637.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 616.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 616.10 Td (e may be impacted by unforeseen events, such as work stoppages, insolvencies, force majeure events or other financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 604.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.43 604.10 Td (ficulties experienced by shipyards, their subcontractors and our suppliers. ) Tj ET Q q 0 0 0 rg BT 357.11 604.10 Td (This may result in less shipyard availability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 592.10 Td (resulting in delays or preventing the delivery of our ships under construction and/or the completion of the repair) Tj ET Q q 0 0 0 rg BT 497.03 592.10 Td (, maintenance, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 580.10 Td (or refurbishment of our existing ships. ) Tj ET Q q 0 0 0 rg BT 205.13 580.10 Td (This may lead to potential delays or cancellations of cruises. In addition, the prices of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 568.10 Td (various commodities that are used in the construction of ships and for repair) Tj ET Q q 0 0 0 rg BT 353.46 568.10 Td (, maintenance and refurbishment of existing ships, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 556.10 Td (such as steel, are subject to volatility) Tj ET Q q 0 0 0 rg BT 195.75 556.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.75 556.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 530.53505859375 m 346.31640625 530.53505859375 l s q 0 0 0 rg BT 49.50 532.10 Td (Cautionary Note Concerning Factors ) Tj ET Q q 0 0 0 rg BT 210.41 532.10 Td (That May ) Tj ET Q q 0 0 0 rg BT 254.86 532.10 Td (Affect Futur) Tj ET Q q 0 0 0 rg BT 308.26 532.10 Td (e Results) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 508.10 Td (Some of the statements, estimates or projections contained in this document are forward-looking statements that involve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 496.10 Td (risks, uncertainties and assumptions with respect to us, including some statements concerning future results, outlooks, plans, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 484.10 Td (goals and other events which have not yet occurred. ) Tj ET Q q 0 0 0 rg BT 259.25 484.10 Td (These statements are intended to qualify for the safe harbors from liability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 472.10 Td (provided by Section 27A) Tj ET Q q 0 0 0 rg BT 149.21 472.10 Td ( of the Securities ) Tj ET Q q 0 0 0 rg BT 218.64 472.10 Td (Act of 1933 and Section 21E of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 445.80 472.10 Td (Act of 1934. ) Tj ET Q q 0 0 0 rg BT 498.02 472.10 Td (All statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 460.10 Td (other than statements of historical facts are statements that could be deemed forward-looking. ) Tj ET Q q 0 0 0 rg BT 426.41 460.10 Td (These statements are based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 448.10 Td (current expectations, estimates, forecasts and projections about our business and the industry in which we operate and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 436.10 Td (beliefs and assumptions of our management. ) Tj ET Q q 0 0 0 rg BT 230.11 436.10 Td (W) Tj ET Q q 0 0 0 rg BT 238.75 436.10 Td (e have tried, whenever possible, to identify these statements by using words like ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 424.10 Td (will, may) Tj ET Q q 0 0 0 rg BT 99.94 424.10 Td (, could, should, would, believe, depends, expect, goal, anticipate, forecast, project, future, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 412.10 Td (intend, plan, estimate, tar) Tj ET Q q 0 0 0 rg BT 181.47 412.10 Td (get, indicate, outlook, and similar expressions of future intent or the negative of such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 400.10 Td (terms.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 376.10 Td (Forward-looking statements include those statements that relate to our outlook and financial position including, but not limited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 364.10 Td (to, statements regarding: ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.50 330.78 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.70 330.78 Td ( ) Tj ET Q q 0 0 0 rg BT 87.50 330.78 Td (Net revenue yields) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 290.50 330.78 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.70 330.78 Td ( ) Tj ET Q q 0 0 0 rg BT 308.50 330.78 Td (Net cruise costs, excluding fuel per available lower berth day) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.50 315.78 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.70 315.78 Td ( ) Tj ET Q q 0 0 0 rg BT 87.50 315.78 Td (Booking levels) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 290.50 315.78 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.70 315.78 Td ( ) Tj ET Q q 0 0 0 rg BT 308.50 315.78 Td (Estimates of ship depreciable lives and residual values) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.50 301.78 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.70 301.78 Td ( ) Tj ET Q q 0 0 0 rg BT 87.50 301.78 Td (Pricing and occupancy) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 290.50 301.78 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.70 301.78 Td ( ) Tj ET Q q 0 0 0 rg BT 308.50 301.78 Td (Goodwill, ship and trademark fair values) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.50 287.78 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.70 287.78 Td ( ) Tj ET Q q 0 0 0 rg BT 87.50 287.78 Td (Interest, tax and fuel expenses) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 290.50 287.78 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.70 287.78 Td ( ) Tj ET Q q 0 0 0 rg BT 308.50 287.78 Td (Liquidity) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.50 273.78 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.70 273.78 Td ( ) Tj ET Q q 0 0 0 rg BT 87.50 273.78 Td (Currency exchange rates) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 290.50 273.78 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.70 273.78 Td ( ) Tj ET Q q 0 0 0 rg BT 308.50 273.78 Td (Adjusted earnings per share) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 247.10 Td (Certain of the risks we are exposed to are identified in this Item 1A. Risk Factors.) Tj ET Q q 0 0 0 rg BT 387.56 247.10 Td (This item contains important cautionary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 235.10 Td (statements and a discussion of the known factors that we consider could materially af) Tj ET Q q 0 0 0 rg BT 390.61 235.10 Td (fect the accuracy of our forward-looking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 223.10 Td (statements and adversely af) Tj ET Q q 0 0 0 rg BT 159.55 223.10 Td (fect our business, results of operations and financial position. It is not possible to predict or identify ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 211.10 Td (all such risks. ) Tj ET Q q 0 0 0 rg BT 106.54 211.10 Td (There may be additional risks that we consider immaterial or which are unknown. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 187.10 Td (Forward-looking statements should not be relied upon as a prediction of actual results. Subject to any continuing obligations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 175.10 Td (under applicable law or any relevant stock exchange rules, we expressly disclaim any obligation to disseminate, after the date of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 163.10 Td (this document) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.88 163.10 Td (, any updates or revisions to any such forward-looking statements to reflect any change in expectations or events, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 151.10 Td (conditions or circumstances on which any such statements are based.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 127.10 Td (Item 1B. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 94.5 125.53505859375002 m 214.3046875 125.53505859375002 l s q 0 0 0 rg BT 94.50 127.10 Td (Unr) Tj ET Q q 0 0 0 rg BT 111.54 127.10 Td (esolved Staff Comments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.30 127.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 103.10 Td (None.) Tj ET Q endstream endobj 73 0 obj <> endobj 74 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (Item 2. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 85.5 738.68505859375 m 129.7431640625 738.68505859375 l s q 0 0 0 rg BT 85.50 740.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 95.87 740.25 Td (operties) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.74 740.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.94 716.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.65 716.25 Td (, the Carnival Corporation and Carnival plc headquarters and our lar) Tj ET Q q 0 0 0 rg BT 426.43 716.25 Td (ger shoreside locations are as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 672.75 148.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 198.00 672.75 7.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.00 672.75 83.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 672.75 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 672.75 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 672.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 672.75 207.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 644.75 148.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 198.00 644.75 7.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.00 644.75 83.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 644.75 5.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 644.75 59.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 644.75 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 644.75 207.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 606.75 148.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 198.00 606.75 7.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.00 606.75 83.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 606.75 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 606.75 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 606.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 606.75 207.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 568.75 148.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 198.00 568.75 7.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.00 568.75 83.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 568.75 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 568.75 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 568.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 568.75 207.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 540.75 148.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 198.00 540.75 7.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.00 540.75 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 540.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 540.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 540.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 540.75 207.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 672.75 m 198 672.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205 672.75 m 288 672.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293 672.75 m 352 672.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 672.75 m 563 672.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 100.85 677.43 Td ( Location) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.60 684.48 Td (Squar) Tj ET Q q 0 0 0 rg BT 238.54 684.48 Td (e Footage) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.50 674.37 Td (\(in thousands\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.94 674.37 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.10 677.43 Td (Own/Lease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.10 677.43 Td (Principal Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 663.32 Td (Miami, FL, U.S.A.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.10 663.32 Td (463/61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.20 663.32 Td (Own/Lease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 663.32 Td (Carnival Corporation and Carnival Cruise Line) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 649.32 Td (Genoa, Italy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.10 649.32 Td (246/66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.20 649.32 Td (Own/Lease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 649.32 Td (Costa and ) Tj ET Q q 0 0 0 rg BT 400.44 649.32 Td (AIDA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 630.37 Td (Santa Clarita, CA, U.S.A.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.50 630.37 Td (31) Tj ET Q q 0 0 0 rg BT 248.50 630.37 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.30 630.37 Td (Lease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 635.32 Td (Princess Cruises, Holland ) Tj ET Q q 0 0 0 rg BT 463.77 635.32 Td (America Line and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 625.32 Td (Seabourn) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 611.32 Td (Almere, Netherlands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.50 611.32 Td (253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.25 611.32 Td (Own) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 611.32 Td (Arison Maritime Center) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 597.32 Td (Rostock, Germany) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.50 597.32 Td (224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.25 597.32 Td (Own) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 597.32 Td (Costa and ) Tj ET Q q 0 0 0 rg BT 400.44 597.32 Td (AIDA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 578.37 Td (Seattle, ) Tj ET Q q 0 0 0 rg BT 84.62 578.37 Td (W) Tj ET Q q 0 0 0 rg BT 93.42 578.37 Td (A, U.S.A.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.50 578.37 Td (175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.30 578.37 Td (Lease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 583.32 Td (Princess Cruises, Holland ) Tj ET Q q 0 0 0 rg BT 463.77 583.32 Td (America Line and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 573.32 Td (Seabourn) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 559.32 Td (Southampton, England) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.50 559.32 Td (150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.30 559.32 Td (Lease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 559.32 Td (Carnival plc, P&O Cruises \(UK\) and Cunard) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 545.32 Td (Hambur) Tj ET Q q 0 0 0 rg BT 85.18 545.32 Td (g, Germany) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.50 545.32 Td (146) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.30 545.32 Td (Lease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 545.32 Td (Costa and ) Tj ET Q q 0 0 0 rg BT 400.17 545.32 Td (AIDA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 530.87 Td (Sydney) Tj ET Q q 0 0 0 rg BT 82.18 530.87 Td (, NSW) Tj ET Q q 0 0 0 rg BT 108.61 530.87 Td (, ) Tj ET Q q 0 0 0 rg BT 112.88 530.87 Td (Australia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 530.87 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.30 530.87 Td (Lease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 530.87 Td (Princess Cruises and P&O Cruises \(Australia\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 515.87 Td (Shanghai, China) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 515.87 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.30 515.87 Td (Lease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 515.87 Td (Costa) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 487.25 Td (Information about our cruise ships, including the number each of our cruise brands operate, as well as information regarding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 475.25 Td (our cruise ships under construction may be found under Part I. Item 1. Business. C. Our Global Cruise Business. In addition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 463.25 Td (we own, lease or have controlling interests in port destinations, private islands, hotels, and lodges. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 439.25 Td (Item 3. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 85.5 437.68505859375 m 163.361328125 437.68505859375 l s q 0 0 0 rg BT 85.50 439.25 Td (Legal Pr) Tj ET Q q 0 0 0 rg BT 122.25 439.25 Td (oceedings) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 163.36 439.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 418.25 Td (As previously disclosed, on May 15, 2018, the Marseilles, France Public Prosecutor alleged that Carnival plc and the captain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 406.25 Td (P&O Cruises) Tj ET Q q 0 0 0 rg BT 105.15 406.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 107.65 406.25 Td (Azura) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.54 406.25 Td ( breached the French Environmental Code governing the sulfur content of fuel used during the vessel) Tj ET Q q 0 0 0 rg BT 538.92 406.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 394.25 Td (passage through French territorial waters on March 28 and 29, 2018. On November 26, 2018, the ) Tj ET Q q 0 0 0 rg BT 440.33 394.25 Td (T) Tj ET Q q 0 0 0 rg BT 446.09 394.25 Td (ribunal de Grande Instance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (imposed a fine, costs and damages against Carnival plc and the captain for an aggregate of 1) Tj ET Q q 0 0 0 rg BT 423.72 382.25 Td (18,000. ) Tj ET Q q 0 0 0 rg BT 456.04 382.25 Td (W) Tj ET Q q 0 0 0 rg BT 464.68 382.25 Td (e believe that we have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 370.25 Td (meritorious defense to this claim and are appealing this judgment. ) Tj ET Q q 0 0 0 rg BT 315.64 370.25 Td (W) Tj ET Q q 0 0 0 rg BT 324.28 370.25 Td (e also believe that the ultimate outcome of the proceedings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 358.25 Td (will not have a material impact on our consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 334.25 Td (As previously disclosed, on ) Tj ET Q q 0 0 0 rg BT 162.00 334.25 Td (August 24, 2018, a proposed class-action lawsuit was filed by James ) Tj ET Q q 0 0 0 rg BT 438.71 334.25 Td (W) Tj ET Q q 0 0 0 rg BT 447.35 334.25 Td (olfe and others against ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 322.25 Td (Carnival Corporation relating to the marketing and sales of Carnival Cruise Line) Tj ET Q q 0 0 0 rg BT 374.69 322.25 Td (s ) Tj ET Q q 0 0 0 rg BT 380.90 322.25 Td (V) Tj ET Q q 0 0 0 rg BT 387.01 322.25 Td (acation Protection product. On January 3, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 310.25 Td (2019, the United States District Court for the Southern District of Florida granted Carnival Corporation) Tj ET Q q 0 0 0 rg BT 465.81 310.25 Td (s motion to stay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 298.25 Td (proceedings and compel arbitration. ) Tj ET Q q 0 0 0 rg BT 195.66 298.25 Td (W) Tj ET Q q 0 0 0 rg BT 204.29 298.25 Td (e believe we have meritorious defenses to the claim and that any liability which may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 286.25 Td (arise as a result of this action will not have a material impact on our consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 265.25 Td (As previously disclosed, on ) Tj ET Q q 0 0 0 rg BT 162.00 265.25 Td (August 28, 2018, P&O Cruises \(Australia\) notified the Maritime ) Tj ET Q q 0 0 0 rg BT 422.24 265.25 Td (Accident Investigation Branch and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 253.25 Td (the ) Tj ET Q q 0 0 0 rg BT 63.67 253.25 Td (Australian Maritime Safety ) Tj ET Q q 0 0 0 rg BT 175.03 253.25 Td (Authority of an inadvertent dischar) Tj ET Q q 0 0 0 rg BT 315.36 253.25 Td (ge of liquid food waste mixed into grey water of) Tj ET Q q 0 0 0 rg BT 508.74 253.25 Td (f of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 525.40 253.25 Td (Pacific ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 241.25 Td (Explor) Tj ET Q q 0 0 0 rg BT 76.35 241.25 Td (er) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.68 241.25 Td ( while it was inside the Great Barrier Reef Marine Park on ) Tj ET Q q 0 0 0 rg BT 320.16 241.25 Td (August 26, 2018. ) Tj ET Q q 0 0 0 rg BT 391.37 241.25 Td (W) Tj ET Q q 0 0 0 rg BT 400.01 241.25 Td (e believe the ultimate outcome of any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 229.25 Td (investigation and any penalty will not have a material impact on our consolidated financial statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 205.25 Td (Item 4. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 85.5 203.68505859375 m 187.5263671875 203.68505859375 l s q 0 0 0 rg BT 85.50 205.25 Td (Mine Safety Disclosur) Tj ET Q q 0 0 0 rg BT 179.20 205.25 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 187.53 205.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.03 205.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 182.45 Td (None. ) Tj ET Q endstream endobj 75 0 obj <> endobj 76 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (35) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 738.68505859375 m 206.12109375 738.68505859375 l s q 0 0 0 rg BT 49.50 740.25 Td (Executive Officers of the Registrants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.12 740.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.25 Td (The table below sets forth the name, age, years of service and title of each of our executive of) Tj ET Q q 0 0 0 rg BT 423.61 716.25 Td (ficers. ) Tj ET Q q 0 0 0 rg BT 450.63 716.25 Td (T) Tj ET Q q 0 0 0 rg BT 456.39 716.25 Td (itles listed relate to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (positions within Carnival Corporation and Carnival plc unless otherwise noted. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 669.75 140.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 190.00 669.75 36.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.00 669.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 669.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 669.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 669.75 277.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 639.75 140.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 190.00 639.75 36.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.00 639.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 639.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 639.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 639.75 277.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 599.75 140.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 190.00 599.75 36.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.00 599.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 599.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 599.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 599.75 277.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 190 669.75 m 226 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 669.75 m 282 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286 669.75 m 563 669.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.15 674.43 Td (Age) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 238.10 684.43 Td (Y) Tj ET Q q 0 0 0 rg BT 244.77 684.43 Td (ears of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.85 674.43 Td (Service \(a\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.05 674.43 Td (T) Tj ET Q q 0 0 0 rg BT 420.54 674.43 Td (itle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 659.87 Td (Micky ) Tj ET Q q 0 0 0 rg BT 80.83 659.87 Td (Arison) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.50 659.87 Td (69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.50 659.87 Td (47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 659.87 Td (Chairman of the Boards of Directors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 645.32 Td (David Bernstein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.50 645.32 Td (61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.50 645.32 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 645.32 Td (Chief Financial Of) Tj ET Q q 0 0 0 rg BT 363.39 645.32 Td (ficer and Chief ) Tj ET Q q 0 0 0 rg BT 425.49 645.32 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 484.84 645.32 Td (ficer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 630.32 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 83.24 630.32 Td (W) Tj ET Q q 0 0 0 rg BT 92.13 630.32 Td (. Donald) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.50 630.32 Td (64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.50 630.32 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 630.32 Td (President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 422.81 630.32 Td (ficer and Director) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 609.87 Td (Stein Kruse) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.50 609.87 Td (60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.50 609.87 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 614.87 Td (Group Chief Executive Of) Tj ET Q q 0 0 0 rg BT 394.12 614.87 Td (ficer of Holland ) Tj ET Q q 0 0 0 rg BT 459.93 614.87 Td (America Group and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 604.87 Td (Carnival UK) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 590.32 Td (Arnaldo Perez) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.50 590.32 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.50 590.32 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 590.32 Td (General Counsel and Secretary) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 575.32 Td (Michael ) Tj ET Q q 0 0 0 rg BT 87.67 575.32 Td (Thamm) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.50 575.32 Td (55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.50 575.32 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 575.32 Td (Group Chief Executive Of) Tj ET Q q 0 0 0 rg BT 394.12 575.32 Td (ficer of Costa Group and Carnival ) Tj ET Q q 0 0 0 rg BT 532.42 575.32 Td (Asia) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.25 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 546.25 Td (Y) Tj ET Q q 0 0 0 rg BT 73.72 546.25 Td (ears of service with us or Carnival plc predecessor companies.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 522.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 80.5 520.68505859375 m 259.357421875 520.68505859375 l s q 0 0 0 rg BT 80.50 522.25 Td (Business Experience of Executive Officers) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 259.36 522.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 498.25 Td (Micky ) Tj ET Q q 0 0 0 rg BT 77.56 498.25 Td (Arison has been Chairman of the Boards of Directors since 1990 and a Director since 1987. He was Chief Executive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.25 Td (Of) Tj ET Q q 0 0 0 rg BT 59.87 486.25 Td (ficer from 1979 to 2013.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.25 Td (David Bernstein has been Chief Financial Of) Tj ET Q q 0 0 0 rg BT 229.27 462.25 Td (ficer since 2007 and Chief ) Tj ET Q q 0 0 0 rg BT 336.74 462.25 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 396.26 462.25 Td (ficer since 2016. From 2003 to 2007, he ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.25 Td (was ) Tj ET Q q 0 0 0 rg BT 67.37 450.25 Td (T) Tj ET Q q 0 0 0 rg BT 73.13 450.25 Td (reasurer) Tj ET Q q 0 0 0 rg BT 104.77 450.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.25 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 80.15 426.25 Td (W) Tj ET Q q 0 0 0 rg BT 88.67 426.25 Td (. Donald has been President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 297.04 426.25 Td (ficer since 2013. He has been a Director since 2001.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.25 Td (Stein Kruse has been the Group Chief Executive Of) Tj ET Q q 0 0 0 rg BT 256.48 402.25 Td (ficer of Holland ) Tj ET Q q 0 0 0 rg BT 322.29 402.25 Td (America Group and Carnival UK since 2017. He was Chief ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.25 Td (Executive Of) Tj ET Q q 0 0 0 rg BT 102.35 390.25 Td (ficer of Holland ) Tj ET Q q 0 0 0 rg BT 168.16 390.25 Td (America Group from 2013 to 2017. From 2004 to 2013, he was President and Chief Executive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.25 Td (Of) Tj ET Q q 0 0 0 rg BT 59.87 378.25 Td (ficer of Holland ) Tj ET Q q 0 0 0 rg BT 125.68 378.25 Td (America Line. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.25 Td (Arnaldo Perez has been General Counsel and Secretary since 1995. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.25 Td (Michael ) Tj ET Q q 0 0 0 rg BT 84.58 330.25 Td (Thamm has been Group Chief Executive Of) Tj ET Q q 0 0 0 rg BT 261.01 330.25 Td (ficer of Costa Group since 2012 and of Carnival ) Tj ET Q q 0 0 0 rg BT 455.69 330.25 Td (Asia since 2017. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.85 306.25 Td (P) Tj ET Q q 0 0 0 rg BT 293.22 306.25 Td (AR) Tj ET Q q 0 0 0 rg BT 307.31 306.25 Td (T) Tj ET Q q 0 0 0 rg BT 313.80 306.25 Td ( II) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 282.25 Td (Item 5. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 85.5 280.68505859375 m 525.119140625 280.68505859375 l s q 0 0 0 rg BT 85.50 282.25 Td (Market for) Tj ET Q q 0 0 0 rg BT 132.79 282.25 Td ( Registrants) Tj ET Q q 0 0 0 rg BT 186.76 282.25 Td ( Common Equity) Tj ET Q q 0 0 0 rg BT 259.56 282.25 Td (, Related Stockholder) Tj ET Q q 0 0 0 rg BT 351.32 282.25 Td ( Matters and Issuer) Tj ET Q q 0 0 0 rg BT 434.74 282.25 Td ( Pur) Tj ET Q q 0 0 0 rg BT 453.17 282.25 Td (chases of Equity ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 268.68505859375 m 91.1552734375 268.68505859375 l s q 0 0 0 rg BT 49.50 270.25 Td (Securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 91.16 270.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 246.25 Td (A. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 63 244.68505859375 m 149.9287109375 244.68505859375 l s q 0 0 0 rg BT 63.00 246.25 Td (Market Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.25 Td (The information required by Item 201\(a\) of Regulation S-K, Market Information, is shown in Exhibit 13 and is incorporated by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.25 Td (reference into this Form 10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 186.25 Td (B. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 62.5 184.68505859375 m 96.38671875 184.68505859375 l s q 0 0 0 rg BT 62.50 186.25 Td (Holders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.25 Td (The information required by Item 201\(b\) of Regulation S-K, Holders, is shown in Exhibit 13 and is incorporated by reference ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.25 Td (into this Form 10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 126.25 Td (C. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 62.5 124.68505859375 m 105.29296875 124.68505859375 l s q 0 0 0 rg BT 62.50 126.25 Td (Dividends) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 102.25 Td (All dividends for both Carnival Corporation and Carnival plc are declared in U.S. dollars. If declared, holders of Carnival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 90.25 Td (Corporation common stock and Carnival plc ) Tj ET Q q 0 0 0 rg BT 229.47 90.25 Td (American Depository Shares receive a dividend payable in U.S. dollars. ) Tj ET Q q 0 0 0 rg BT 519.48 90.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 78.25 Td (dividends payable for Carnival plc ordinary shares are payable in sterling, unless the shareholders elect to receive the dividends ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 66.25 Td (in U.S. dollars. Dividends payable in sterling will be converted from U.S. dollars into sterling at the U.S. dollar to sterling ) Tj ET Q endstream endobj 77 0 obj <> endobj 78 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (exchange rate quoted by the Bank of England in London at 12:00 p.m. on the next combined U.S. and UK business day that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (follows the quarter end.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (The payment and amount of any future dividend is within the discretion of the Boards of Directors. Our dividends were and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (will be based on a number of factors, including our earnings, liquidity position, financial condition, booking trends, capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (requirements, credit ratings and the availability and cost of obtaining new debt. ) Tj ET Q q 0 0 0 rg BT 368.67 680.10 Td (W) Tj ET Q q 0 0 0 rg BT 377.31 680.10 Td (e cannot be certain that Carnival Corporation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (and Carnival plc will continue their dividend in the future, and if so, the amount and timing of such future dividends are not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (determinable and may be dif) Tj ET Q q 0 0 0 rg BT 163.72 656.10 Td (ferent than prior declarations. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (D. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 62.5 630.53505859375 m 357.9931640625 630.53505859375 l s q 0 0 0 rg BT 62.50 632.10 Td (Securities ) Tj ET Q q 0 0 0 rg BT 106.10 632.10 Td (Authorized for) Tj ET Q q 0 0 0 rg BT 169.52 632.10 Td ( Issuance under) Tj ET Q q 0 0 0 rg BT 236.58 632.10 Td ( Equity Compensation Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (The information required by Item 201\(d\) of Regulation S-K is incorporated by reference to Part III. Item 12 of this Form 10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 584.10 Td (E. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 62.5 582.53505859375 m 148.8623046875 582.53505859375 l s q 0 0 0 rg BT 62.50 584.10 Td (Performance Graph) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td (The information required by Item 201\(e\) of Regulation S-K, Performance Graph, is shown in Exhibit 13 and is incorporated by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.10 Td (reference into this Form 10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 524.10 Td (F) Tj ET Q q 0 0 0 rg BT 54.69 524.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 62.5 522.53505859375 m 408.7451171875 522.53505859375 l s q 0 0 0 rg BT 62.50 524.10 Td (Issuer) Tj ET Q q 0 0 0 rg BT 88.43 524.10 Td ( Pur) Tj ET Q q 0 0 0 rg BT 106.86 524.10 Td (chases of Equity Securities; Use of Pr) Tj ET Q q 0 0 0 rg BT 265.55 524.10 Td (oceeds fr) Tj ET Q q 0 0 0 rg BT 303.40 524.10 Td (om Register) Tj ET Q q 0 0 0 rg BT 354.59 524.10 Td (ed Securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 500.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 500.10 Td (I. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 85.5 498.53505859375 m 176.505859375 498.53505859375 l s q 0 0 0 rg BT 85.50 500.10 Td (Repur) Tj ET Q q 0 0 0 rg BT 112.54 500.10 Td (chase Pr) Tj ET Q q 0 0 0 rg BT 148.74 500.10 Td (ogram) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.10 Td (Under a share repurchase program ef) Tj ET Q q 0 0 0 rg BT 197.30 476.10 Td (fective 2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.00 476.10 Td (, we are authorized to repurchase Carnival Corporation common stock and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.10 Td (Carnival plc ordinary shares \(the Repurchase Program\). Ef) Tj ET Q q 0 0 0 rg BT 293.11 464.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 322.26 464.10 Td (April 10 and ) Tj ET Q q 0 0 0 rg BT 374.76 464.10 Td (August 27, 2018, the company approved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.10 Td (modifications of the general authorization under the Repurchase Program, which replenished the remaining authorized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.10 Td (repurchases at the time of the approvals to $1.0 billion. ) Tj ET Q q 0 0 0 rg BT 272.04 440.10 Td (The Repurchase Program does not have an expiration date and may be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 428.10 Td (discontinued by our Boards of Directors at any time. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 404.10 Td (During the three months ended November 30, 2018, repurchases of Carnival Corporation common stock pursuant to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.10 Td (Repurchase Program were as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 332.60 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 332.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 332.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 332.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 332.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 332.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 332.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 302.60 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 302.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 302.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 302.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 302.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 302.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 302.60 100.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 332.6 m 252 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257 332.6 m 357 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361 332.6 m 461 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 332.6 m 566 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361 287.6 m 461 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257 287.6 m 357 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257 273.6 m 357 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257 271.6 m 357 271.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 137.75 337.05 Td (Period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 260.70 373.00 Td (T) Tj ET Q q 0 0 0 rg BT 265.88 373.00 Td (otal Number) Tj ET Q q 0 0 0 rg BT 314.46 373.00 Td ( of Shar) Tj ET Q q 0 0 0 rg BT 344.80 373.00 Td (es ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 259.50 364.00 Td (of Carnival Corporation) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 276.85 355.00 Td (Common Stock ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 286.30 346.00 Td (Pur) Tj ET Q q 0 0 0 rg BT 300.63 346.00 Td (chased ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 283.35 337.00 Td (\(in millions\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 366.30 364.05 Td (A) Tj ET Q q 0 0 0 rg BT 372.47 364.05 Td (verage Price Paid per) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 376.30 355.05 Td (Shar) Tj ET Q q 0 0 0 rg BT 394.72 355.05 Td (e of Carnival) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 367.60 346.05 Td (Corporation Common) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 399.70 337.05 Td (Stock) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.30 373.00 Td (Maximum Dollar) Tj ET Q q 0 0 0 rg BT 536.88 373.00 Td ( ) Tj ET Q q 0 0 0 rg BT 538.96 373.00 Td (V) Tj ET Q q 0 0 0 rg BT 544.64 373.00 Td (alue) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.30 364.00 Td (of Shar) Tj ET Q q 0 0 0 rg BT 498.39 364.00 Td (es ) Tj ET Q q 0 0 0 rg BT 507.97 364.00 Td (That May ) Tj ET Q q 0 0 0 rg BT 548.14 364.00 Td (Y) Tj ET Q q 0 0 0 rg BT 553.64 364.00 Td (et) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 468.75 355.00 Td (Be Pur) Tj ET Q q 0 0 0 rg BT 495.33 355.00 Td (chased Under) Tj ET Q q 0 0 0 rg BT 547.92 355.00 Td ( the) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.50 346.00 Td (Repur) Tj ET Q q 0 0 0 rg BT 498.84 346.00 Td (chase Pr) Tj ET Q q 0 0 0 rg BT 531.41 346.00 Td (ogram) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 492.35 337.00 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 322.27 Td (September 1, 2018 through September 30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.15 322.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.50 322.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 322.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.50 322.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 322.27 Td (919) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 307.27 Td (October 1, 2018 through October 31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.15 307.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.50 307.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 307.27 Td (55.20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.50 307.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 307.27 Td (767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 292.27 Td (November 1, 2018 through November 30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.15 292.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.50 292.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 292.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.50 292.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 292.27 Td (726) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.15 277.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.50 277.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 277.27 Td (55.20) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 249.10 Td (During the three months ended November 30, 2018, repurchases of Carnival plc ordinary shares pursuant to the Repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 237.10 Td (Program were as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 178.60 200.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.00 178.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.00 178.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 178.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 178.60 99.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.00 178.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 178.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 148.60 200.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.00 148.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.00 148.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 148.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 148.60 99.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.00 148.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 148.60 100.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 178.60000000000002 m 250 178.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 178.60000000000002 m 355 178.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 178.60000000000002 m 458 178.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 178.60000000000002 m 563 178.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 178.60000000000002 m 563 178.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 133.60000000000002 m 458 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 133.60000000000002 m 355 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 119.60000000000002 m 355 119.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 117.60000000000002 m 355 117.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 133.60000000000002 m 458 133.60000000000002 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 136.75 183.05 Td (Period) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.70 210.05 Td (T) Tj ET Q q 0 0 0 rg BT 263.88 210.05 Td (otal Number) Tj ET Q q 0 0 0 rg BT 312.46 210.05 Td ( of Shar) Tj ET Q q 0 0 0 rg BT 342.80 210.05 Td (es ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 275.75 201.05 Td (of Carnival plc ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 284.30 192.05 Td (Pur) Tj ET Q q 0 0 0 rg BT 298.63 192.05 Td (chased ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 281.35 183.05 Td (\(in millions\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 363.80 192.05 Td (A) Tj ET Q q 0 0 0 rg BT 369.97 192.05 Td (verage Price Paid per) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 366.95 183.05 Td (Shar) Tj ET Q q 0 0 0 rg BT 385.37 183.05 Td (e of Carnival plc) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 467.30 218.00 Td (Maximum Dollar) Tj ET Q q 0 0 0 rg BT 533.88 218.00 Td ( ) Tj ET Q q 0 0 0 rg BT 535.96 218.00 Td (V) Tj ET Q q 0 0 0 rg BT 541.64 218.00 Td (alue) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 467.30 209.00 Td (of Shar) Tj ET Q q 0 0 0 rg BT 495.39 209.00 Td (es ) Tj ET Q q 0 0 0 rg BT 504.97 209.00 Td (That May ) Tj ET Q q 0 0 0 rg BT 545.14 209.00 Td (Y) Tj ET Q q 0 0 0 rg BT 550.64 209.00 Td (et) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 465.75 200.00 Td (Be Pur) Tj ET Q q 0 0 0 rg BT 492.33 200.00 Td (chased Under) Tj ET Q q 0 0 0 rg BT 544.92 200.00 Td ( the) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.50 191.00 Td (Repur) Tj ET Q q 0 0 0 rg BT 495.84 191.00 Td (chase Pr) Tj ET Q q 0 0 0 rg BT 528.41 191.00 Td (ogram) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 489.35 182.00 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 168.27 Td (September 1, 2018 through September 30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 168.27 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 168.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.65 168.27 Td (62.13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.50 168.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 168.27 Td (919) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 153.27 Td (October 1, 2018 through October 31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 153.27 Td (2.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 153.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.65 153.27 Td (56.69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.50 153.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 153.27 Td (767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 138.27 Td (November 1, 2018 through November 30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 138.27 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 138.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.65 138.27 Td (58.08) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.50 138.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 138.27 Td (726) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 123.27 Td (4.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 123.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.65 123.27 Td (58.24) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 95.10 Td (No shares of Carnival Corporation common stock or Carnival plc ordinary shares were purchased outside of publicly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 83.10 Td (announced plans or programs.) Tj ET Q endstream endobj 79 0 obj <> endobj 80 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 740.25 Td (II. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 85.5 738.68505859375 m 179.7626953125 738.68505859375 l s q 0 0 0 rg BT 85.50 740.25 Td (Stock Swap Pr) Tj ET Q q 0 0 0 rg BT 148.10 740.25 Td (ograms) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 179.76 740.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.25 Td (In addition to the Repurchase Program, we have programs that allow us to obtain an economic benefit when either Carnival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (Corporation common stock is trading at a premium to the price of Carnival plc ordinary shares or Carnival plc ordinary shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.25 Td (are trading at a premium to Carnival Corporation common stock \(the Stock Swap Programs\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.52 692.25 Td ( For example:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.06 692.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 668.25 Td () Tj ET Q /GS0 gs q 14.50 0 0 10.09 71.00 666.09 cm /I41 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 668.25 Td (In the event Carnival Corporation common stock trades at a premium to Carnival plc ordinary shares, we may elect to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 656.25 Td (sell shares of Carnival Corporation common stock, at prevailing market prices in ordinary brokers) Tj ET Q q 0 0 0 rg BT 480.20 656.25 Td ( transactions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 644.25 Td (repurchase an equivalent number of Carnival plc ordinary shares in the UK market.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.99 644.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 620.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 620.25 Td (In the event Carnival plc ordinary shares trade at a premium to Carnival Corporation common stock, we may elect to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 608.25 Td (sell ordinary shares of Carnival plc, at prevailing market prices in ordinary brokers) Tj ET Q q 0 0 0 rg BT 419.37 608.25 Td ( transactions and repurchase an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 596.25 Td (equivalent number of shares of Carnival Corporation common stock in the U.S. market.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.25 Td (Under the Stock Swap Programs ef) Tj ET Q q 0 0 0 rg BT 190.13 572.25 Td (fective 2008, the Boards of Directors have made the following authorizations:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.98 572.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 548.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 548.25 Td (In January 2017, to sell up to 22.0 million of Carnival Corporation common stock in the U.S. market and repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 536.25 Td (up to 22.0 million of Carnival plc ordinary shares in the UK market. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.72 536.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.22 536.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 512.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 512.25 Td (In 2016, to sell up to 26.9 million of existing shares of Carnival plc in the UK market and repurchase up to 26.9 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 500.25 Td (million shares of Carnival Corporation common stock in the U.S. market.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.62 500.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.25 Td (Any sales of Carnival Corporation shares and Carnival plc ordinary shares have been or will be registered under the Securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.25 Td (Act of 1933.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.77 464.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.27 464.25 Td (During the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.63 464.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.33 464.25 Td (, no Carnival Corporation common stock or Carnival plc ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.25 Td (ordinary shares were sold or repurchased under the Stock Swap Programs. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.42 452.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 428.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.50 428.25 Td (III. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 85.5 426.68505859375 m 239.6943359375 426.68505859375 l s q 0 0 0 rg BT 85.50 428.25 Td (Carnival plc Shar) Tj ET Q q 0 0 0 rg BT 161.44 428.25 Td (eholder) Tj ET Q q 0 0 0 rg BT 193.47 428.25 Td ( ) Tj ET Q q 0 0 0 rg BT 195.42 428.25 Td (Appr) Tj ET Q q 0 0 0 rg BT 218.02 428.25 Td (ovals) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.69 428.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 404.25 Td (Carnival plc ordinary share repurchases under both the Repurchase Program and the Stock Swap Programs require annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.25 Td (shareholder approval. ) Tj ET Q q 0 0 0 rg BT 138.45 392.25 Td (The existing shareholder approval is limited to a maximum of 20.9 million ordinary shares and is valid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.25 Td (until the earlier of the conclusion of the Carnival plc 2019 annual general meeting or October 1) Tj ET Q q 0 0 0 rg BT 430.11 380.25 Td (1, 2019.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.61 380.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 356.25 Td (Item 6. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 85.5 354.68505859375 m 186.0419921875 354.68505859375 l s q 0 0 0 rg BT 85.50 356.25 Td (Selected Financial Data) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.04 356.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.25 Td (The information required by Item 6. Selected Financial Data, is shown in Exhibit 13 and is incorporated by reference into this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.25 Td (Form 10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 296.25 Td (Item 7. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 85.5 294.68505859375 m 464.630859375 294.68505859375 l s q 0 0 0 rg BT 85.50 296.25 Td (Management) Tj ET Q q 0 0 0 rg BT 144.56 296.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 216.54 296.25 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.63 296.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.25 Td (The information required by Item 7. Management) Tj ET Q q 0 0 0 rg BT 251.38 272.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 320.55 272.25 Td (Analysis of Financial Condition and Results of Operations, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.25 Td (is shown in Exhibit 13 and is incorporated by reference into this Form 10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 236.25 Td (Item 7A. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 90 234.68505859375 m 348.7158203125 234.68505859375 l s q 0 0 0 rg BT 90.00 236.25 Td (Quantitative and Qualitative Disclosur) Tj ET Q q 0 0 0 rg BT 255.10 236.25 Td (es ) Tj ET Q q 0 0 0 rg BT 265.38 236.25 Td (About Market Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.72 236.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.25 Td (The information required by Item 7A. Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 0 rg BT 368.03 212.25 Td (About Market Risk, is shown in Management) Tj ET Q q 0 0 0 rg BT 553.28 212.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.25 Td (Discussion and ) Tj ET Q q 0 0 0 rg BT 112.28 200.25 Td (Analysis of Financial Condition and Results of Operations in Exhibit 13 and is incorporated by reference into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.25 Td (this Form 10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 164.25 Td (Item 8. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 85.5 162.68505859375 m 284.953125 162.68505859375 l s q 0 0 0 rg BT 85.50 164.25 Td (Financial Statements and Supplementary Data) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 284.95 164.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.25 Td (The financial statements, together with the report thereon of PricewaterhouseCoopersLLP) Tj ET Q q 0 0 0 rg BT 410.77 140.25 Td (, dated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.93 140.25 Td (January28, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.53 140.25 Td (, and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.25 Td (Selected Quarterly Financial Data \(Unaudited\) are shown in Exhibit 13 and are incorporated by reference into this Form 10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 104.25 Td (Item 9. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 85.5 102.68505859375 m 465.177734375 102.68505859375 l s q 0 0 0 rg BT 85.50 104.25 Td (Changes in and Disagr) Tj ET Q q 0 0 0 rg BT 182.29 104.25 Td (eements with ) Tj ET Q q 0 0 0 rg BT 240.06 104.25 Td (Accountants on ) Tj ET Q q 0 0 0 rg BT 308.40 104.25 Td (Accounting and Financial Disclosur) Tj ET Q q 0 0 0 rg BT 460.74 104.25 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.18 104.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 80.25 Td (None.) Tj ET Q endstream endobj 81 0 obj <> endobj 82 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (Item 9A. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 90 738.68505859375 m 196.1181640625 738.68505859375 l s q 0 0 0 rg BT 90.00 740.25 Td (Contr) Tj ET Q q 0 0 0 rg BT 115.37 740.25 Td (ols and Pr) Tj ET Q q 0 0 0 rg BT 158.53 740.25 Td (ocedur) Tj ET Q q 0 0 0 rg BT 187.79 740.25 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.12 740.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 716.25 Td (A. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 67.5 714.68505859375 m 280.3857421875 714.68505859375 l s q 0 0 0 rg BT 67.50 716.25 Td (Evaluation of Disclosur) Tj ET Q q 0 0 0 rg BT 167.33 716.25 Td (e Contr) Tj ET Q q 0 0 0 rg BT 199.64 716.25 Td (ols and Pr) Tj ET Q q 0 0 0 rg BT 242.80 716.25 Td (ocedur) Tj ET Q q 0 0 0 rg BT 272.06 716.25 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.25 Td (Disclosure controls and procedures are designed to provide reasonable assurance that information required to be disclosed by us ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.25 Td (in the reports that we file or submit under the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 316.09 680.25 Td (Act of 1934, is recorded, processed, summarized and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.25 Td (reported, within the time periods specified in the U.S. Securities and Exchange Commission) Tj ET Q q 0 0 0 rg BT 420.81 668.25 Td (s rules and forms. Disclosure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.25 Td (controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.25 Td (disclosed by us in our reports that we file or submit under the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 380.81 644.25 Td (Act of 1934 is accumulated and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.25 Td (communicated to our management, including our principal executive and principal financial of) Tj ET Q q 0 0 0 rg BT 428.63 632.25 Td (ficers, or persons performing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.25 Td (similar functions, as appropriate, to allow timely decisions regarding required disclosure.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.25 Td (Our President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 201.78 596.25 Td (ficer and our Chief Financial Of) Tj ET Q q 0 0 0 rg BT 330.16 596.25 Td (ficer and Chief ) Tj ET Q q 0 0 0 rg BT 392.08 596.25 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 451.60 596.25 Td (ficer have evaluated our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.25 Td (disclosure controls and procedures and have concluded, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.64 584.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.35 584.25 Td (, that they are ef) Tj ET Q q 0 0 0 rg BT 440.85 584.25 Td (fective as described above.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (B. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 67.5 558.68505859375 m 392.314453125 558.68505859375 l s q 0 0 0 rg BT 67.50 560.25 Td (Management) Tj ET Q q 0 0 0 rg BT 126.56 560.25 Td (s ) Tj ET Q q 0 0 0 rg BT 132.40 560.25 Td (Annual Report on Internal Contr) Tj ET Q q 0 0 0 rg BT 275.00 560.25 Td (ol over) Tj ET Q q 0 0 0 rg BT 303.98 560.25 Td ( Financial Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.25 Td (Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.25 Td (is defined in the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 199.46 524.25 Td (Act of 1934 Rule 13a-15\(f\). Our management, with the participation of our President and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 512.25 Td (Chief Executive Of) Tj ET Q q 0 0 0 rg BT 127.07 512.25 Td (ficer and our Chief Financial Of) Tj ET Q q 0 0 0 rg BT 255.45 512.25 Td (ficer and Chief ) Tj ET Q q 0 0 0 rg BT 317.37 512.25 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 376.90 512.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 394.81 512.25 Td (, conducted an evaluation of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.09 500.25 Td (fectiveness of our internal control over financial reporting based on the 2013 Internal Control Integrated Framework \(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.25 Td (COSO Framework\). Based on this evaluation under the COSO Framework, our management concluded that our internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.25 Td (control over financial reporting was ef) Tj ET Q q 0 0 0 rg BT 202.87 476.25 Td (fective as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.23 476.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.94 476.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.25 Td (PricewaterhouseCoopers LLP) Tj ET Q q 0 0 0 rg BT 168.08 452.25 Td (, the independent registered public accounting firm that audited our consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.25 Td (statements incorporated in this Form 10-K, has also audited the ef) Tj ET Q q 0 0 0 rg BT 312.87 440.25 Td (fectiveness of our internal control over financial reporting as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 428.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.33 428.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.04 428.25 Td ( as stated in their report, which is shown in Exhibit 13 and is incorporated by reference into this Form 10-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 416.25 Td (K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 392.25 Td (C. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 67.5 390.68505859375 m 297.6953125 390.68505859375 l s q 0 0 0 rg BT 67.50 392.25 Td (Changes in Internal Contr) Tj ET Q q 0 0 0 rg BT 180.39 392.25 Td (ol over) Tj ET Q q 0 0 0 rg BT 209.36 392.25 Td ( Financial Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.25 Td (There have been no changes in our internal control over financial reporting during the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.67 368.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.38 368.25 Td ( that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 356.25 Td (have materially af) Tj ET Q q 0 0 0 rg BT 121.50 356.25 Td (fected or are reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 305.96 356.25 Td (fect our internal control over financial reporting. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 332.25 Td (Item 9B. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 90 330.68505859375 m 170.087890625 330.68505859375 l s q 0 0 0 rg BT 90.00 332.25 Td (Other) Tj ET Q q 0 0 0 rg BT 115.37 332.25 Td ( Information) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 170.09 332.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.25 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.50 284.25 Td (P) Tj ET Q q 0 0 0 rg BT 306.87 284.25 Td (AR) Tj ET Q q 0 0 0 rg BT 320.96 284.25 Td (T) Tj ET Q q 0 0 0 rg BT 327.45 284.25 Td ( III) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 260.25 Td (Item 10. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 90 258.68505859375 m 333.0810546875 258.68505859375 l s q 0 0 0 rg BT 90.00 260.25 Td (Dir) Tj ET Q q 0 0 0 rg BT 104.26 260.25 Td (ectors, Executive Officers and Corporate Governance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.08 260.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 236.25 Td (e have adopted a Code of Business Conduct and Ethics that applies to our President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 489.52 236.25 Td (ficer and senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (financial of) Tj ET Q q 0 0 0 rg BT 95.13 224.25 Td (ficers, including the Chief Financial Of) Tj ET Q q 0 0 0 rg BT 252.13 224.25 Td (ficer and Chief ) Tj ET Q q 0 0 0 rg BT 314.05 224.25 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 373.57 224.25 Td (ficer and other persons performing similar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.25 Td (functions. Our Code of Business Conduct and Ethics applies to all our other employees and to our directors as well. ) Tj ET Q q 0 0 0 rg BT 514.23 212.25 Td (This Code ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.25 Td (of Business Conduct and Ethics is posted on our website, which is located at ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11764705882352941 0.13333333333333333 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 358.064453125 198.9169921875 m 451.267578125 198.9169921875 l s q 0.11764705882352941 0.13333333333333333 1 rg BT 358.06 200.25 Td (www) Tj ET Q q 0.11764705882352941 0.13333333333333333 1 rg BT 379.08 200.25 Td (.carnivalcorp.com) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 451.27 200.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11764705882352941 0.13333333333333333 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 470.7060546875 198.9169921875 m 558.357421875 198.9169921875 l s q 0.11764705882352941 0.13333333333333333 1 rg BT 470.71 200.25 Td (www) Tj ET Q q 0.11764705882352941 0.13333333333333333 1 rg BT 491.72 200.25 Td (.carnivalplc.com) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 558.36 200.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 188.25 Td (e intend to satisfy the disclosure requirement under Item 5.05 of the Form 8-K regarding any amendments to, or waivers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.25 Td (from, provisions of this Code of Business Conduct and Ethics by posting such information on our website, at the addresses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.25 Td (specified above. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.25 Td (The additional information required by Item 10 is incorporated herein by reference from the Carnival Corporation and Carnival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.25 Td (plc joint definitive Proxy Statement to be filed with the U.S. Securities and Exchange Commission not later than 120 days after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.25 Td (the close of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.81 116.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.81 116.25 Td ( fiscal year) Tj ET Q q 0 0 0 rg BT 176.27 116.25 Td (, except that the information concerning the Carnival Corporation and Carnival plc executive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 104.25 Td (of) Tj ET Q q 0 0 0 rg BT 57.65 104.25 Td (ficers called for by Item 401\(b\) of Regulation S-K is included in Part I of this Form 10-K. ) Tj ET Q endstream endobj 83 0 obj <> endobj 84 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (Item 1) Tj ET Q q 0 0 0 rg BT 76.44 740.25 Td (1. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 90 738.68505859375 m 195.830078125 738.68505859375 l s q 0 0 0 rg BT 90.00 740.25 Td (Executive Compensation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 195.83 740.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.25 Td (The information required by Item 1) Tj ET Q q 0 0 0 rg BT 191.03 716.25 Td (1 is incorporated herein by reference from the Carnival Corporation and Carnival plc joint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (definitive Proxy Statement to be filed with the U.S. Securities and Exchange Commission not later than 120 days after the close ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.25 Td (of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.05 692.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.05 692.25 Td ( fiscal year) Tj ET Q q 0 0 0 rg BT 138.36 692.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 668.25 Td (Item 12. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 90.5 666.68505859375 m 523.888671875 666.68505859375 l s q 0 0 0 rg BT 90.50 668.25 Td (Security Ownership of Certain Beneficial Owners and Management and Related Stockholder) Tj ET Q q 0 0 0 rg BT 487.52 668.25 Td ( Matters) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.89 668.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 644.25 Td (A. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 68 642.68505859375 m 363.4931640625 642.68505859375 l s q 0 0 0 rg BT 68.00 644.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 111.60 644.25 Td (Authorized for) Tj ET Q q 0 0 0 rg BT 175.02 644.25 Td ( Issuance under) Tj ET Q q 0 0 0 rg BT 242.08 644.25 Td ( Equity Compensation Plans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.49 644.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 620.25 Td ( ) Tj ET Q q 0 0 0 rg BT 68.00 620.25 Td (I. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 86 618.68505859375 m 179.6083984375 618.68505859375 l s q 0 0 0 rg BT 86.00 620.25 Td (Carnival Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 596.25 Td (Set forth below is a table that summarizes compensation plans \(including individual compensation arrangements\) under which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 584.25 Td (Carnival Corporation equity securities are authorized for issuance as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.12 584.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.83 584.25 Td (. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 500.75 150.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 200.50 500.75 5.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 500.75 96.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 500.75 18.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 500.75 92.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 500.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 500.75 130.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 545.50 500.75 18.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 450.75 150.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 200.50 450.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 450.75 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 450.75 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 450.75 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 450.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 450.75 130.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 545.50 450.75 18.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 515.75 m 200.5 515.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 515.75 m 301.5 515.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 515.75 m 411.5 515.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 515.75 m 545.5 515.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 450.75 m 411.5 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 450.75 m 301.5 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 436.75 m 301.5 436.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 434.75 m 301.5 434.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 450.75 m 411.5 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 436.75 m 411.5 436.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 434.75 m 411.5 434.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 450.75 m 545.5 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 436.75 m 545.5 436.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 434.75 m 545.5 434.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 520.20 Td (Plan category) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 208.20 547.20 Td (Number) Tj ET Q q 0 0 0 rg BT 240.03 547.20 Td ( of securities to ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 208.45 538.20 Td (be issued upon exer) Tj ET Q q 0 0 0 rg BT 283.55 538.20 Td (cise ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 209.85 529.20 Td (of warrants and rights ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 229.85 520.20 Td (\(in millions\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 330.25 547.20 Td (W) Tj ET Q q 0 0 0 rg BT 338.75 547.20 Td (eighted-average) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 334.05 538.20 Td (exer) Tj ET Q q 0 0 0 rg BT 350.37 538.20 Td (cise price of) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 323.60 529.20 Td (outstanding warrants) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 345.35 520.20 Td (and rights) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 419.25 565.15 Td (Number) Tj ET Q q 0 0 0 rg BT 451.08 565.15 Td ( of securities r) Tj ET Q q 0 0 0 rg BT 505.15 565.15 Td (emaining ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 425.75 556.15 Td (available for) Tj ET Q q 0 0 0 rg BT 473.83 556.15 Td ( futur) Tj ET Q q 0 0 0 rg BT 495.92 556.15 Td (e issuance ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 427.80 547.15 Td (under) Tj ET Q q 0 0 0 rg BT 450.64 547.15 Td ( equity compensation ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 429.45 538.15 Td (plans \(excluding securities ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 435.20 529.15 Td (r) Tj ET Q q 0 0 0 rg BT 439.03 529.15 Td (eflected in column \(1\)\) ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 456.85 520.15 Td (\(in millions\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 248.30 507.83 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 490.42 Td (Equity compensation plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 480.42 Td (approved by security holders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.50 480.42 Td (2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 480.42 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 480.42 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.50 480.42 Td (8.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 480.42 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 465.42 Td (Equity compensation plans not) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 455.42 Td (approved by security holders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 455.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 455.42 Td ( -) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 455.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.50 441.32 Td (2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 441.32 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.50 441.32 Td (8.6) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 412.25 Td (Represents ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.38 412.25 Td (2.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.27 412.25 Td ( of restricted share units outstanding under the Carnival Corporation 201) Tj ET Q q 0 0 0 rg BT 457.39 412.25 Td (1 Stock Plan.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (\(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 400.25 Td (Includes Carnival Corporation common stock available for issuance as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.03 400.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.73 400.25 Td ( as follows: 2.0 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 388.25 Td (under the Carnival Corporation Employee Stock Purchase Plan, which includes 43,376 shares subject to purchase during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 376.25 Td (the current purchase period and 6.6 million under the Carnival Corporation 201) Tj ET Q q 0 0 0 rg BT 394.32 376.25 Td (1 Stock Plan.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 352.25 Td ( ) Tj ET Q q 0 0 0 rg BT 59.00 352.25 Td (II. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 77 350.68505859375 m 130.056640625 350.68505859375 l s q 0 0 0 rg BT 77.00 352.25 Td (Carnival plc) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.25 Td (Set forth below is a table that summarizes compensation plans \(including individual compensation arrangements\) under which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.25 Td (Carnival plc equity securities are authorized for issuance as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.02 316.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.72 316.25 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 55.50 235.75 166.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 235.75 5.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.50 235.75 96.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 235.75 18.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 235.75 92.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 235.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 235.75 147.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.50 185.75 166.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 185.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.50 185.75 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 185.75 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 185.75 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 185.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 185.75 147.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 55.5 248.75 m 221.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226.5 248.75 m 322.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 248.75 m 432.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 248.75 m 583.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226.5 185.75 m 322.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226.5 185.75 m 322.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226.5 171.75 m 322.5 171.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226.5 169.75 m 322.5 169.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 185.75 m 432.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 171.75 m 432.5 171.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 169.75 m 432.5 169.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 185.75 m 583.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 171.75 m 583.5 171.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 169.75 m 583.5 169.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 58.00 253.20 Td (Plan category) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 229.20 280.20 Td (Number) Tj ET Q q 0 0 0 rg BT 261.03 280.20 Td ( of securities to ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 229.45 271.20 Td (be issued upon exer) Tj ET Q q 0 0 0 rg BT 304.55 271.20 Td (cise ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 230.85 262.20 Td (of warrants and rights ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 250.85 253.20 Td (\(in millions\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.25 280.20 Td (W) Tj ET Q q 0 0 0 rg BT 359.75 280.20 Td (eighted-average) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 355.05 271.20 Td (exer) Tj ET Q q 0 0 0 rg BT 371.37 271.20 Td (cise price of) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 344.60 262.20 Td (outstanding warrants) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 366.35 253.20 Td (and rights) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 448.75 297.15 Td (Number) Tj ET Q q 0 0 0 rg BT 480.58 297.15 Td ( of securities r) Tj ET Q q 0 0 0 rg BT 534.65 297.15 Td (emaining ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 442.70 288.15 Td (available for) Tj ET Q q 0 0 0 rg BT 490.78 288.15 Td ( futur) Tj ET Q q 0 0 0 rg BT 512.87 288.15 Td (e issuance under) Tj ET Q q 0 0 0 rg BT 576.21 288.15 Td ( ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 458.45 279.15 Td (equity compensation plans ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 447.70 270.15 Td (\(excluding securities r) Tj ET Q q 0 0 0 rg BT 532.02 270.15 Td (eflected in ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 487.35 261.15 Td (column \(1\)\) ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 486.35 252.15 Td (\(in millions\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 272.30 240.83 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 225.42 Td (Equity compensation plans approved) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 215.42 Td (by security holders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.50 215.42 Td (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.00 215.42 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.15 215.42 Td ( -) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 567.50 215.42 Td (6.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 200.42 Td (Equity compensation plans not) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 190.42 Td (approved by security holders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.65 190.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.15 190.42 Td ( -) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 569.65 190.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.50 176.32 Td (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.80 176.37 Td ( -) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 567.50 176.32 Td (6.9) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.50 147.25 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 147.25 Td (Represents ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.38 147.25 Td (0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.27 147.25 Td ( restricted share units outstanding under the Carnival plc 2014 Employee Share Plan. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 123.25 Td (The additional information required by Item 12 is incorporated herein by reference to the Carnival Corporation and Carnival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 111.25 Td (plc joint definitive Proxy Statement to be filed with the U.S. Securities and Exchange Commission not later than 120 days after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 99.25 Td (the close of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.31 99.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.31 99.25 Td ( fiscal year) Tj ET Q q 0 0 0 rg BT 176.62 99.25 Td (.) Tj ET Q endstream endobj 85 0 obj <> endobj 86 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (Items 13 and 14.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.50 740.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 124.5048828125 738.68505859375 m 564.353515625 738.68505859375 l s q 0 0 0 rg BT 124.50 740.25 Td (Certain Relationships and Related ) Tj ET Q q 0 0 0 rg BT 273.78 740.25 Td (T) Tj ET Q q 0 0 0 rg BT 279.71 740.25 Td (ransactions, and Dir) Tj ET Q q 0 0 0 rg BT 366.48 740.25 Td (ector) Tj ET Q q 0 0 0 rg BT 387.94 740.25 Td ( Independence and Principal ) Tj ET Q q 0 0 0 rg BT 512.41 740.25 Td (Accountant ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 726.68505859375 m 124.4853515625 726.68505859375 l s q 0 0 0 rg BT 49.50 728.25 Td (Fees and Services) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 124.49 728.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.99 728.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (The information required by Items 13 and 14 is incorporated herein by reference from the Carnival Corporation and Carnival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.25 Td (plc joint definitive Proxy Statement to be filed with the U.S. Securities and Exchange Commission not later than 120 days after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.25 Td (the close of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.81 680.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.81 680.25 Td ( fiscal year) Tj ET Q q 0 0 0 rg BT 176.12 680.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.05 656.25 Td ( P) Tj ET Q q 0 0 0 rg BT 292.92 656.25 Td (AR) Tj ET Q q 0 0 0 rg BT 307.01 656.25 Td (T) Tj ET Q q 0 0 0 rg BT 313.50 656.25 Td ( IV) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 632.25 Td (Item 15. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 90 630.68505859375 m 277.2509765625 630.68505859375 l s q 0 0 0 rg BT 90.00 632.25 Td (Exhibits and Financial Statement Schedules) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.25 632.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 608.25 Td ( \(a\) \(1\) ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 94.5 606.68505859375 m 184.216796875 606.68505859375 l s q 0 0 0 rg BT 94.50 608.25 Td (Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.25 Td (The financial statements shown in Exhibit 13 are incorporated herein by reference into this Form 10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 560.25 Td ( \(2\) ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 94.5 558.68505859375 m 225.056640625 558.68505859375 l s q 0 0 0 rg BT 94.50 560.25 Td (Financial Statement Schedules) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.25 Td (All schedules for which provision is made in the applicable accounting regulations of the SEC are not required under the related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.25 Td (instruction or are inapplicable and, therefore, have been omitted.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 500.25 Td ( \(3\) ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 94.5 498.68505859375 m 130.0712890625 498.68505859375 l s q 0 0 0 rg BT 94.50 500.25 Td (Exhibits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 130.07 500.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.25 Td (The exhibits listed below on the Index to Exhibits are filed or incorporated by reference as part of this Form 10-K.) Tj ET Q endstream endobj 87 0 obj <> endobj 88 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (41) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 701.75 m 387 701.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 701.75 m 397 701.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 701.75 m 446 701.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 701.75 m 456 701.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 701.75 m 505 701.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 701.75 m 514 701.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 701.75 m 563 701.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 678.75 m 387 678.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 678.75 m 397 678.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 678.75 m 446 678.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 678.75 m 456 678.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 678.75 m 505 678.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 678.75 m 514 678.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 678.75 m 563 678.75 l s BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52.5 718.91259765625 m 152.16796875 718.91259765625 l s q 0 0 0 rg BT 52.50 720.48 Td (INDEX ) Tj ET Q q 0 0 0 rg BT 87.05 720.48 Td (T) Tj ET Q q 0 0 0 rg BT 93.54 720.48 Td (O EXHIBITS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.60 706.48 Td (Incorporated by Refer) Tj ET Q q 0 0 0 rg BT 488.60 706.48 Td (ence) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 692.48 Td (Exhibit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 682.48 Td (Number) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 108.5 681.86259765625 m 192.1181640625 681.86259765625 l s q 0 0 0 rg BT 108.50 683.43 Td (Exhibit Description) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.05 683.43 Td (Form) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.15 683.43 Td (Exhibit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.45 692.48 Td (Filing) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.00 682.48 Td (Date) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.15 692.48 Td (Filed) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.05 682.48 Td (Her) Tj ET Q q 0 0 0 rg BT 534.52 682.48 Td (ewith) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 655.48 Td (Articles of incorporation and by-laws) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.25 628.32 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 626.9833984375 m 329.271484375 626.9833984375 l s q 0 0 1 rg BT 108.50 628.32 Td (Third ) Tj ET Q q 0 0 1 rg BT 132.67 628.32 Td (Amended and Restated ) Tj ET Q q 0 0 1 rg BT 227.36 628.32 Td (Articles of Incorporation ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 616.9833984375 m 207.0888671875 616.9833984375 l s q 0 0 1 rg BT 108.50 618.32 Td (of Carnival Corporation.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.20 618.42 Td (8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.75 618.42 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 618.42 Td (4/17/03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.25 590.32 Td (3.2) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 588.9833984375 m 314.837890625 588.9833984375 l s q 0 0 1 rg BT 108.50 590.32 Td (Third ) Tj ET Q q 0 0 1 rg BT 132.67 590.32 Td (Amended and Restated By-Laws of Carnival ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 578.9833984375 m 159.3251953125 578.9833984375 l s q 0 0 1 rg BT 108.50 580.32 Td (Corporation.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.20 580.42 Td (8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.75 580.42 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 580.42 Td (4/20/09) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.25 552.32 Td (3.3) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 550.9833984375 m 265.130859375 550.9833984375 l s q 0 0 1 rg BT 108.50 552.32 Td (Articles of ) Tj ET Q q 0 0 1 rg BT 152.93 552.32 Td (Association of Carnival plc.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.20 552.32 Td (8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.75 552.32 Td (3.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 552.32 Td (4/20/09) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 524.48 Td (Instruments defining the rights of security holders, including indentur) Tj ET Q q 0 0 0 rg BT 351.51 524.48 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.25 497.32 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 495.9833984375 m 325.1015625 495.9833984375 l s q 0 0 1 rg BT 108.50 497.32 Td (Agreement of Carnival Corporation and Carnival plc, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 485.9833984375 m 294.28125 485.9833984375 l s q 0 0 1 rg BT 108.50 487.32 Td (dated January 18, 2019 to furnish certain debt ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 475.9833984375 m 283.4560546875 475.9833984375 l s q 0 0 1 rg BT 108.50 477.32 Td (instruments to the Securities and Exchange ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 465.9833984375 m 161.56640625 465.9833984375 l s q 0 0 1 rg BT 108.50 467.32 Td (Commission.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.35 467.42 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.25 439.32 Td (4.2) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 437.9833984375 m 309.5693359375 437.9833984375 l s q 0 0 1 rg BT 108.50 439.32 Td (Carnival Corporation Deed, dated ) Tj ET Q q 0 0 1 rg BT 245.96 439.32 Td (April 17, 2003, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 427.9833984375 m 307.904296875 427.9833984375 l s q 0 0 1 rg BT 108.50 429.32 Td (between Carnival Corporation and P&O Princess ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 417.9833984375 m 331.7958984375 417.9833984375 l s q 0 0 1 rg BT 108.50 419.32 Td (Cruises plc for the benefit of the P&O Princess Cruises ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 407.9833984375 m 163.20703125 407.9833984375 l s q 0 0 1 rg BT 108.50 409.32 Td (Shareholders.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 409.42 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.75 409.42 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.20 409.42 Td (10/15/03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.25 381.32 Td (4.3) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 379.9833984375 m 325.365234375 379.9833984375 l s q 0 0 1 rg BT 108.50 381.32 Td (Equalization and Governance ) Tj ET Q q 0 0 1 rg BT 228.73 381.32 Td (Agreement, dated ) Tj ET Q q 0 0 1 rg BT 301.76 381.32 Td (April ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 369.9833984375 m 312.07421875 369.9833984375 l s q 0 0 1 rg BT 108.50 371.32 Td (17, 2003, between Carnival Corporation and P&O ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 359.9833984375 m 191.546875 359.9833984375 l s q 0 0 1 rg BT 108.50 361.32 Td (Princess Cruises plc.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 361.42 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.75 361.42 Td (4.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.20 361.42 Td (10/15/03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.25 333.32 Td (4.4) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 331.9833984375 m 322.5869140625 331.9833984375 l s q 0 0 1 rg BT 108.50 333.32 Td (Carnival Corporation Deed of Guarantee, dated as of ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 321.9833984375 m 312.62109375 321.9833984375 l s q 0 0 1 rg BT 108.50 323.32 Td (April 17, 2003, between Carnival Corporation and ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 311.9833984375 m 160.150390625 311.9833984375 l s q 0 0 1 rg BT 108.50 313.32 Td (Carnival plc.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.80 313.42 Td ( S-4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.75 313.42 Td (4.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 313.42 Td (5/30/03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.25 285.32 Td (4.5) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 283.9833984375 m 324.53515625 283.9833984375 l s q 0 0 1 rg BT 108.50 285.32 Td (Carnival plc Deed of Guarantee, dated as of ) Tj ET Q q 0 0 1 rg BT 285.93 285.32 Td (April 17, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 273.9833984375 m 325.6630859375 273.9833984375 l s q 0 0 1 rg BT 108.50 275.32 Td (2003, between Carnival Corporation and Carnival plc.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.70 275.42 Td (S-3 & F-3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 275.42 Td (4.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 275.42 Td (6/19/03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.25 247.32 Td (4.6) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 245.9833984375 m 303.197265625 245.9833984375 l s q 0 0 1 rg BT 108.50 247.32 Td (Specimen Carnival Corporation Common Stock ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 235.9833984375 m 153.197265625 235.9833984375 l s q 0 0 1 rg BT 108.50 237.32 Td (Certificate.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.70 238.42 Td (S-3 & F-3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 238.42 Td (4.16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 238.42 Td (6/19/03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.25 210.32 Td (4.7) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 208.9833984375 m 333.4462890625 208.9833984375 l s q 0 0 1 rg BT 108.50 210.32 Td (Pairing ) Tj ET Q q 0 0 1 rg BT 139.33 210.32 Td (Agreement, dated as of ) Tj ET Q q 0 0 1 rg BT 234.02 210.32 Td (April 17, 2003, between ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 198.9833984375 m 304.115234375 198.9833984375 l s q 0 0 1 rg BT 108.50 200.32 Td (Carnival Corporation, ) Tj ET Q q 0 0 1 rg BT 198.58 200.32 Td (The Law Debenture ) Tj ET Q q 0 0 1 rg BT 280.86 200.32 Td (T) Tj ET Q q 0 0 1 rg BT 286.62 200.32 Td (rust ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 188.9833984375 m 297.89453125 188.9833984375 l s q 0 0 1 rg BT 108.50 190.32 Td (Corporation \(Cayman\) Limited, as trustee, and ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 178.9833984375 m 323.373046875 178.9833984375 l s q 0 0 1 rg BT 108.50 180.32 Td (Computershare Investor Services \(formerly SunT) Tj ET Q q 0 0 1 rg BT 305.87 180.32 Td (rust ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 168.9833984375 m 205.9609375 168.9833984375 l s q 0 0 1 rg BT 108.50 170.32 Td (Bank\), as transfer agent.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.20 170.42 Td (8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.75 170.42 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 170.42 Td (4/17/03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.25 142.32 Td (4.8) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 140.9833984375 m 331.3515625 140.9833984375 l s q 0 0 1 rg BT 108.50 142.32 Td (V) Tj ET Q q 0 0 1 rg BT 114.43 142.32 Td (oting ) Tj ET Q q 0 0 1 rg BT 137.31 142.32 Td (T) Tj ET Q q 0 0 1 rg BT 143.07 142.32 Td (rust Deed, dated as of ) Tj ET Q q 0 0 1 rg BT 231.93 142.32 Td (April 17, 2003, between ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 130.9833984375 m 318.5537109375 130.9833984375 l s q 0 0 1 rg BT 108.50 132.32 Td (Carnival Corporation and ) Tj ET Q q 0 0 1 rg BT 213.02 132.32 Td (The Law Debenture ) Tj ET Q q 0 0 1 rg BT 295.30 132.32 Td (T) Tj ET Q q 0 0 1 rg BT 301.05 132.32 Td (rust ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 120.9833984375 m 278.4560546875 120.9833984375 l s q 0 0 1 rg BT 108.50 122.32 Td (Corporation \(Cayman\) Limited, as trustee.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.20 122.42 Td (8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.75 122.42 Td (4.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 122.42 Td (4/17/03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.25 94.32 Td (4.9) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 92.9833984375 m 325.6044921875 92.9833984375 l s q 0 0 1 rg BT 108.50 94.32 Td (SVE Special ) Tj ET Q q 0 0 1 rg BT 161.64 94.32 Td (V) Tj ET Q q 0 0 1 rg BT 167.58 94.32 Td (oting Deed, dated as of ) Tj ET Q q 0 0 1 rg BT 262.00 94.32 Td (April 17, 2003, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 82.9833984375 m 314.5791015625 82.9833984375 l s q 0 0 1 rg BT 108.50 84.32 Td (between Carnival Corporation, DLS SVC Limited, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 72.9833984375 m 322.46484375 72.9833984375 l s q 0 0 1 rg BT 108.50 74.32 Td (P&O Princess Cruises plc, ) Tj ET Q q 0 0 1 rg BT 216.93 74.32 Td (The Law Debenture ) Tj ET Q q 0 0 1 rg BT 299.21 74.32 Td (T) Tj ET Q q 0 0 1 rg BT 304.96 74.32 Td (rust ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 62.9833984375 m 336.029296875 62.9833984375 l s q 0 0 1 rg BT 108.50 64.32 Td (Corporation \(Cayman\) Limited, as trustee, and ) Tj ET Q q 0 0 1 rg BT 297.71 64.32 Td (The Law ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 52.9833984375 m 253.7783203125 52.9833984375 l s q 0 0 1 rg BT 108.50 54.32 Td (Debenture ) Tj ET Q q 0 0 1 rg BT 152.46 54.32 Td (T) Tj ET Q q 0 0 1 rg BT 158.22 54.32 Td (rust Corporation, P) Tj ET Q q 0 0 1 rg BT 233.50 54.32 Td (.L.C.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.20 54.42 Td (8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.75 54.42 Td (4.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 54.42 Td (4/17/03) Tj ET Q endstream endobj 89 0 obj <> endobj 90 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (42) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 718.5 m 387 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 718.5 m 397 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 718.5 m 446 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 718.5 m 456 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 718.5 m 505 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 718.5 m 514 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 718.5 m 563 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 695.5 m 387 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 695.5 m 397 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 695.5 m 446 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 695.5 m 456 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 695.5 m 505 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 695.5 m 514 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 695.5 m 563 695.5 l s BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52.5 735.66259765625 m 152.16796875 735.66259765625 l s q 0 0 0 rg BT 52.50 737.23 Td (INDEX ) Tj ET Q q 0 0 0 rg BT 87.05 737.23 Td (T) Tj ET Q q 0 0 0 rg BT 93.54 737.23 Td (O EXHIBITS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.60 723.23 Td (Incorporated by Refer) Tj ET Q q 0 0 0 rg BT 488.60 723.23 Td (ence) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 709.23 Td (Exhibit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 699.23 Td (Number) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 108.5 698.61259765625 m 192.1181640625 698.61259765625 l s q 0 0 0 rg BT 108.50 700.18 Td (Exhibit Description) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.05 700.18 Td (Form) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.15 700.18 Td (Exhibit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.45 709.23 Td (Filing) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.00 699.23 Td (Date) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.15 709.23 Td (Filed) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.05 699.23 Td (Her) Tj ET Q q 0 0 0 rg BT 534.52 699.23 Td (ewith) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.75 672.07 Td (4.10) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 670.7333984375 m 335.1162109375 670.7333984375 l s q 0 0 1 rg BT 108.50 672.07 Td (Form of ) Tj ET Q q 0 0 1 rg BT 142.95 672.07 Td (Amended and Restated Deposit ) Tj ET Q q 0 0 1 rg BT 271.25 672.07 Td (Agreement and ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 660.7333984375 m 329.828125 660.7333984375 l s q 0 0 1 rg BT 108.50 662.07 Td (holders from time to time of receipts issued thereunder) Tj ET Q q 0 0 1 rg BT 327.33 662.07 Td (.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.35 672.07 Td (Post) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.60 662.07 Td (Amend-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.85 652.07 Td (ment to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.95 642.07 Td (Form F-6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.10 642.17 Td (99-a) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 642.17 Td (4/15/03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.65 614.07 Td ( 4.1) Tj ET Q q 0 0 0 rg BT 82.46 614.07 Td (1) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 612.7333984375 m 310.6484375 612.7333984375 l s q 0 0 1 rg BT 108.50 614.07 Td (Specimen Carnival plc Ordinary Share Certificate.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.05 614.07 Td (S-3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.75 614.07 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.20 614.07 Td (7/2/09) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 590.23 Td (Material contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.25 563.07 Td (10.1*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 561.7333984375 m 332.8896484375 561.7333984375 l s q 0 0 1 rg BT 108.50 563.07 Td (Carnival Corporation Nonqualified Retirement Plan for ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 551.7333984375 m 242.6455078125 551.7333984375 l s q 0 0 1 rg BT 108.50 553.07 Td (Highly Compensated Employees.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 553.17 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 553.17 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 553.17 Td (9/28/07) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.75 525.07 Td (10.2) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 523.7333984375 m 335.658203125 523.7333984375 l s q 0 0 1 rg BT 108.50 525.07 Td (Amendment and Restatement ) Tj ET Q q 0 0 1 rg BT 228.75 525.07 Td (Agreement dated June 16, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 513.7333984375 m 301.5078125 513.7333984375 l s q 0 0 1 rg BT 108.50 515.07 Td (2014 in respect of the Multicurrency Revolving ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 503.7333984375 m 308.36328125 503.7333984375 l s q 0 0 1 rg BT 108.50 505.07 Td (Facilities ) Tj ET Q q 0 0 1 rg BT 147.11 505.07 Td (Agreement dated May 18, 201) Tj ET Q q 0 0 1 rg BT 268.65 505.07 Td (1, among ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 493.7333984375 m 307.8798828125 493.7333984375 l s q 0 0 1 rg BT 108.50 495.07 Td (Carnival Corporation, Carnival plc and certain of ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 483.7333984375 m 317.064453125 483.7333984375 l s q 0 0 1 rg BT 108.50 485.07 Td (Carnival Corporation and Carnival plc subsidiaries, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 473.7333984375 m 336.2099609375 473.7333984375 l s q 0 0 1 rg BT 108.50 475.07 Td (Bank of ) Tj ET Q q 0 0 1 rg BT 142.39 475.07 Td (America Merrill L) Tj ET Q q 0 0 1 rg BT 215.69 475.07 Td (ynch International Limited as ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 463.7333984375 m 328.98828125 463.7333984375 l s q 0 0 1 rg BT 108.50 465.07 Td (facilities agent and a syndicate of financial institutions.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 465.17 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 465.17 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 465.17 Td (10/3/14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.25 437.07 Td (10.3*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 435.7333984375 m 301.7861328125 435.7333984375 l s q 0 0 1 rg BT 108.50 437.07 Td (Form of ) Tj ET Q q 0 0 1 rg BT 142.95 437.07 Td (Appointment Letter for Non-Executive ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 425.7333984375 m 148.20703125 425.7333984375 l s q 0 0 1 rg BT 108.50 427.07 Td (Directors.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 427.07 Td (10-Q ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 427.17 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 427.17 Td (6/27/08) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.25 404.07 Td (10.4*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 402.7333984375 m 320.94140625 402.7333984375 l s q 0 0 1 rg BT 108.50 404.07 Td (Form of ) Tj ET Q q 0 0 1 rg BT 142.95 404.07 Td (Appointment Letter for Executive Directors.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 404.07 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 404.07 Td (10.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 404.07 Td (6/27/08) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.75 376.07 Td (10.5) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 374.7333984375 m 321.234375 374.7333984375 l s q 0 0 1 rg BT 108.50 376.07 Td (Succession ) Tj ET Q q 0 0 1 rg BT 154.89 376.07 Td (Agreement, dated as of May 28, 2002, to ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 364.7333984375 m 322.357421875 364.7333984375 l s q 0 0 1 rg BT 108.50 366.07 Td (Registration Rights ) Tj ET Q q 0 0 1 rg BT 187.95 366.07 Td (Agreement, dated June 14, 1991, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 354.7333984375 m 295.3505859375 354.7333984375 l s q 0 0 1 rg BT 108.50 356.07 Td (between Carnival Corporation and ) Tj ET Q q 0 0 1 rg BT 248.83 356.07 Td (T) Tj ET Q q 0 0 1 rg BT 254.24 356.07 Td (ed ) Tj ET Q q 0 0 1 rg BT 265.63 356.07 Td (Arison ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 344.7333984375 m 327.0302734375 344.7333984375 l s q 0 0 1 rg BT 108.50 346.07 Td (\(incorporated by reference to Exhibit 10.2 of Carnival ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 334.7333984375 m 325.1259765625 334.7333984375 l s q 0 0 1 rg BT 108.50 336.07 Td (Corporation) Tj ET Q q 0 0 1 rg BT 159.60 336.07 Td (s Quarterly Report on Form 10-Q for the ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 324.7333984375 m 224.583984375 324.7333984375 l s q 0 0 1 rg BT 108.50 326.07 Td (period ended May 31, 2002\).) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 320.17 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 320.17 Td (10.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 320.17 Td (7/12/02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.25 292.07 Td (10.6*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 290.7333984375 m 313.63671875 290.7333984375 l s q 0 0 1 rg BT 108.50 292.07 Td (Amended and Restated Carnival Corporation 201) Tj ET Q q 0 0 1 rg BT 306.14 292.07 Td (1 ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 280.7333984375 m 154.056640625 280.7333984375 l s q 0 0 1 rg BT 108.50 282.07 Td (Stock Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 282.17 Td (10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.75 282.17 Td (10.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 282.17 Td (1/30/17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.25 254.07 Td (10.7*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 252.7333984375 m 327.0546875 252.7333984375 l s q 0 0 1 rg BT 108.50 254.07 Td (Employment ) Tj ET Q q 0 0 1 rg BT 162.11 254.07 Td (Agreement dated as of October 14, 2013 ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 242.7333984375 m 333.44140625 242.7333984375 l s q 0 0 1 rg BT 108.50 244.07 Td (between Carnival Corporation, Carnival plc and ) Tj ET Q q 0 0 1 rg BT 302.61 244.07 Td (Arnold ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 232.7333984375 m 153.958984375 232.7333984375 l s q 0 0 1 rg BT 108.50 234.07 Td (W) Tj ET Q q 0 0 1 rg BT 117.02 234.07 Td (. Donald.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 234.17 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 234.17 Td (10.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 234.17 Td (10/3/14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.25 206.07 Td (10.8*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 204.7333984375 m 320.94140625 204.7333984375 l s q 0 0 1 rg BT 108.50 206.07 Td (Amended and Restated Carnival plc 2014 Employee ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 194.7333984375 m 154.046875 194.7333984375 l s q 0 0 1 rg BT 108.50 196.07 Td (Share Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 196.17 Td (10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.75 196.17 Td (10.39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 196.17 Td (1/30/17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.25 168.07 Td (10.9*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 166.7333984375 m 313.451171875 166.7333984375 l s q 0 0 1 rg BT 108.50 168.07 Td (Form of Performance-Based Restricted Stock Unit ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 156.7333984375 m 319.466796875 156.7333984375 l s q 0 0 1 rg BT 108.50 158.07 Td (Agreement for the Carnival Corporation 201) Tj ET Q q 0 0 1 rg BT 286.69 158.07 Td (1 Stock ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 146.7333984375 m 128.7783203125 146.7333984375 l s q 0 0 1 rg BT 108.50 148.07 Td (Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 148.17 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 148.17 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.20 148.17 Td (7/1/15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 120.07 Td (10.10*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 118.7333984375 m 313.451171875 118.7333984375 l s q 0 0 1 rg BT 108.50 120.07 Td (Form of Performance-Based Restricted Stock Unit ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 108.7333984375 m 326.76171875 108.7333984375 l s q 0 0 1 rg BT 108.50 110.07 Td (Agreement for the Carnival plc 2014 Employee Share ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 98.7333984375 m 128.7783203125 98.7333984375 l s q 0 0 1 rg BT 108.50 100.07 Td (Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 100.17 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 100.17 Td (10.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.20 100.17 Td (7/1/15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.90 72.07 Td (10.1) Tj ET Q q 0 0 0 rg BT 81.03 72.07 Td (1*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 70.7333984375 m 335.9365234375 70.7333984375 l s q 0 0 1 rg BT 108.50 72.07 Td (Carnival Corporation & plc Management Incentive Plan ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 60.7333984375 m 184.59375 60.7333984375 l s q 0 0 1 rg BT 108.50 62.07 Td (\(adopted in 2015\). ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 62.17 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 62.17 Td (10.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.20 62.17 Td (7/1/15) Tj ET Q endstream endobj 91 0 obj <> endobj 92 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (43) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 718.5 m 387 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 718.5 m 397 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 718.5 m 446 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 718.5 m 456 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 718.5 m 505 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 718.5 m 514 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 718.5 m 563 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 695.5 m 387 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 695.5 m 397 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 695.5 m 446 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 695.5 m 456 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 695.5 m 505 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 695.5 m 514 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 695.5 m 563 695.5 l s BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52.5 735.66259765625 m 152.16796875 735.66259765625 l s q 0 0 0 rg BT 52.50 737.23 Td (INDEX ) Tj ET Q q 0 0 0 rg BT 87.05 737.23 Td (T) Tj ET Q q 0 0 0 rg BT 93.54 737.23 Td (O EXHIBITS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.60 723.23 Td (Incorporated by Refer) Tj ET Q q 0 0 0 rg BT 488.60 723.23 Td (ence) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 709.23 Td (Exhibit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 699.23 Td (Number) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 108.5 698.61259765625 m 192.1181640625 698.61259765625 l s q 0 0 0 rg BT 108.50 700.18 Td (Exhibit Description) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.05 700.18 Td (Form) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.15 700.18 Td (Exhibit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.45 709.23 Td (Filing) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.00 699.23 Td (Date) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.15 709.23 Td (Filed) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.05 699.23 Td (Her) Tj ET Q q 0 0 0 rg BT 534.52 699.23 Td (ewith) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 672.07 Td (10.12*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 670.2833984375 m 316.2294921875 670.2833984375 l s q 0 0 1 rg BT 108.50 671.62 Td (Amendment to Facilities ) Tj ET Q q 0 0 1 rg BT 209.32 671.62 Td (Agreement dated May 18, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 660.2833984375 m 319.564453125 660.2833984375 l s q 0 0 1 rg BT 108.50 661.62 Td (2016 among Carnival Corporation, Carnival plc and ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 650.2833984375 m 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Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 591.17 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 591.17 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.20 591.17 Td (7/1/16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 563.07 Td (10.13*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 561.7333984375 m 302.8115234375 561.7333984375 l s q 0 0 1 rg BT 108.50 563.07 Td (Form of Executive Restricted Share Unit ) Tj ET Q q 0 0 1 rg BT 274.02 563.07 Td (A) Tj ET Q q 0 0 1 rg BT 280.32 563.07 Td (ward ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 551.7333984375 m 324.53515625 551.7333984375 l s q 0 0 1 rg BT 108.50 553.07 Td (Certificate for the Carnival plc 2014 Employee Share ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 541.7333984375 m 128.7783203125 541.7333984375 l s q 0 0 1 rg BT 108.50 543.07 Td (Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 553.12 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 553.12 Td (10.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.20 553.12 Td (7/1/16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 515.07 Td (10.14*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 513.7333984375 m 329.5498046875 513.7333984375 l s q 0 0 1 rg BT 108.50 515.07 Td (Form of Executive Restricted Stock ) Tj ET Q q 0 0 1 rg BT 253.75 515.07 Td (Agreement for the ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 503.7333984375 m 263.9443359375 503.7333984375 l s q 0 0 1 rg BT 108.50 505.07 Td (Carnival Corporation 201) Tj ET Q q 0 0 1 rg BT 210.89 505.07 Td (1 Stock Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 510.12 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 510.12 Td (10.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.20 510.12 Td (7/1/16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 477.07 Td (10.15*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 475.7333984375 m 321.234375 475.7333984375 l s q 0 0 1 rg BT 108.50 477.07 Td (Amendment dated October 18, 2016 to Employment ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 465.7333984375 m 327.03515625 465.7333984375 l s q 0 0 1 rg BT 108.50 467.07 Td (Agreement dated October 14, 2016 between Carnival ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 455.7333984375 m 305.970703125 455.7333984375 l s q 0 0 1 rg BT 108.50 457.07 Td (Corporation, Carnival plc and ) Tj ET Q q 0 0 1 rg BT 229.86 457.07 Td (Arnold ) Tj ET Q q 0 0 1 rg BT 260.51 457.07 Td (W) Tj ET Q q 0 0 1 rg BT 269.03 457.07 Td (. Donald.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.20 466.62 Td (8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 466.62 Td (99.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.20 466.62 Td (10/21/16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 428.07 Td (10.16*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 426.7333984375 m 321.517578125 426.7333984375 l s q 0 0 1 rg BT 108.50 428.07 Td (Form of Management Incentive Plan ) Tj ET Q q 0 0 1 rg BT 258.00 428.07 Td (T) Tj ET Q q 0 0 1 rg BT 263.76 428.07 Td (ied Restricted ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 416.7333984375 m 317.064453125 416.7333984375 l s q 0 0 1 rg BT 108.50 418.07 Td (Stock Unit ) Tj ET Q q 0 0 1 rg BT 153.50 418.07 Td (Agreement for the Carnival Corporation ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 406.7333984375 m 176.185546875 406.7333984375 l s q 0 0 1 rg BT 108.50 408.07 Td (201) Tj ET Q q 0 0 1 rg BT 123.13 408.07 Td (1 Stock Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 417.62 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 417.62 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 417.62 Td (3/30/17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 381.07 Td (10.17*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 379.7333984375 m 321.517578125 379.7333984375 l s q 0 0 1 rg BT 108.50 381.07 Td (Form of Management Incentive Plan ) Tj ET Q q 0 0 1 rg BT 258.00 381.07 Td (T) Tj ET Q q 0 0 1 rg BT 263.76 381.07 Td (ied Restricted ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 369.7333984375 m 303.4462890625 369.7333984375 l s q 0 0 1 rg BT 108.50 371.07 Td (Share Unit ) Tj ET Q q 0 0 1 rg BT 153.50 371.07 Td (Agreement for the Carnival plc 2014 ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 359.7333984375 m 197.0888671875 359.7333984375 l s q 0 0 1 rg BT 108.50 361.07 Td (Employee Share Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 370.62 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 370.62 Td (10.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 370.62 Td (3/30/17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 332.07 Td (10.18*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 330.7333984375 m 336.5224609375 330.7333984375 l s q 0 0 1 rg BT 108.50 332.07 Td (Form of Shareholder Equity ) Tj ET Q q 0 0 1 rg BT 222.93 332.07 Td (Alignment Restricted Stock ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 320.7333984375 m 313.9150390625 320.7333984375 l s q 0 0 1 rg BT 108.50 322.07 Td (Unit ) Tj ET Q q 0 0 1 rg BT 128.23 322.07 Td (Agreement for the Carnival Corporation 201) Tj ET Q q 0 0 1 rg BT 306.42 322.07 Td (1 ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 310.7333984375 m 154.056640625 310.7333984375 l s q 0 0 1 rg BT 108.50 312.07 Td (Stock Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 321.62 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 321.62 Td (10.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 321.62 Td (3/30/17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 286.07 Td (10.19*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 284.28339843749995 m 320.12109375 284.28339843749995 l s q 0 0 1 rg BT 108.50 285.62 Td (Employment Contract dated ) Tj ET Q q 0 0 1 rg BT 223.20 285.62 Td (April 21, 2017 between ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 274.28339843749995 m 266.0439453125 274.28339843749995 l s q 0 0 1 rg BT 108.50 275.62 Td (Carnival plc and Michael Olaf ) Tj ET Q q 0 0 1 rg BT 232.44 275.62 Td (Thamm.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.20 280.62 Td (8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 280.62 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 280.62 Td (4/27/17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 250.07 Td (10.20*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 248.28339843749995 m 311.2294921875 248.28339843749995 l s q 0 0 1 rg BT 108.50 249.62 Td (Form of Non-Employee Director Restricted Stock ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 238.28339843749995 m 322.4306640625 238.28339843749995 l s q 0 0 1 rg BT 108.50 239.62 Td (A) Tj ET Q q 0 0 1 rg BT 114.80 239.62 Td (ward ) Tj ET Q q 0 0 1 rg BT 136.74 239.62 Td (Agreement for the Carnival Corporation 201) Tj ET Q q 0 0 1 rg BT 314.93 239.62 Td (1 ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 228.28339843749995 m 154.056640625 228.28339843749995 l s q 0 0 1 rg BT 108.50 229.62 Td (Stock Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 239.62 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 239.62 Td (10.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 239.62 Td (6/30/17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 204.07 Td (10.21*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 202.28339843749995 m 313.44140625 202.28339843749995 l s q 0 0 1 rg BT 108.50 203.62 Td (Form of Performance-Based Restricted Share Unit ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 192.28339843749995 m 319.466796875 192.28339843749995 l s q 0 0 1 rg BT 108.50 193.62 Td (Agreement for the Carnival Corporation 201) Tj ET Q q 0 0 1 rg BT 286.69 193.62 Td (1 Stock ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 182.28339843749995 m 128.7783203125 182.28339843749995 l s q 0 0 1 rg BT 108.50 183.62 Td (Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 193.62 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 193.62 Td (10.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 193.62 Td (6/30/17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 158.07 Td (10.22*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 156.28339843749995 m 313.44140625 156.28339843749995 l s q 0 0 1 rg BT 108.50 157.62 Td (Form of Performance-Based Restricted Share Unit ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 146.28339843749995 m 326.76171875 146.28339843749995 l s q 0 0 1 rg BT 108.50 147.62 Td (Agreement for the Carnival plc 2014 Employee Share ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 136.28339843749995 m 128.7783203125 136.28339843749995 l s q 0 0 1 rg BT 108.50 137.62 Td (Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 147.62 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 147.62 Td (10.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 147.62 Td (6/30/17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 112.07 Td (10.23*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 110.28339843749995 m 321.517578125 110.28339843749995 l s q 0 0 1 rg BT 108.50 111.62 Td (Form of Management Incentive Plan ) Tj ET Q q 0 0 1 rg BT 258.00 111.62 Td (T) Tj ET Q q 0 0 1 rg BT 263.76 111.62 Td (ied Restricted ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 100.28339843749995 m 317.064453125 100.28339843749995 l s q 0 0 1 rg BT 108.50 101.62 Td (Stock Unit ) Tj ET Q q 0 0 1 rg BT 153.50 101.62 Td (Agreement for the Carnival Corporation ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 90.28339843749995 m 176.185546875 90.28339843749995 l s q 0 0 1 rg BT 108.50 91.62 Td (201) Tj ET Q q 0 0 1 rg BT 123.13 91.62 Td (1 Stock Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 101.62 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 101.62 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 101.62 Td (3/22/18) Tj ET Q endstream endobj 93 0 obj <> endobj 94 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (44) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 718.5 m 387 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 718.5 m 397 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 718.5 m 446 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 718.5 m 456 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 718.5 m 505 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 718.5 m 514 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 718.5 m 563 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 695.5 m 387 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 695.5 m 397 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 695.5 m 446 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 695.5 m 456 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 695.5 m 505 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 695.5 m 514 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 695.5 m 563 695.5 l s BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52.5 735.66259765625 m 152.16796875 735.66259765625 l s q 0 0 0 rg BT 52.50 737.23 Td (INDEX ) Tj ET Q q 0 0 0 rg BT 87.05 737.23 Td (T) Tj ET Q q 0 0 0 rg BT 93.54 737.23 Td (O EXHIBITS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.60 723.23 Td (Incorporated by Refer) Tj ET Q q 0 0 0 rg BT 488.60 723.23 Td (ence) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 709.23 Td (Exhibit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 699.23 Td (Number) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 108.5 698.61259765625 m 192.1181640625 698.61259765625 l s q 0 0 0 rg BT 108.50 700.18 Td (Exhibit Description) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.05 700.18 Td (Form) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.15 700.18 Td (Exhibit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.45 709.23 Td (Filing) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.00 699.23 Td (Date) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.15 709.23 Td (Filed) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.05 699.23 Td (Her) Tj ET Q q 0 0 0 rg BT 534.52 699.23 Td (ewith) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 686.07 Td (10.24*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 684.2833984375 m 321.517578125 684.2833984375 l s q 0 0 1 rg BT 108.50 685.62 Td (Form of Management Incentive Plan ) Tj ET Q q 0 0 1 rg BT 258.00 685.62 Td (T) Tj ET Q q 0 0 1 rg BT 263.76 685.62 Td (ied Restricted ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 674.2833984375 m 303.4462890625 674.2833984375 l s q 0 0 1 rg BT 108.50 675.62 Td (Share Unit ) Tj ET Q q 0 0 1 rg BT 153.50 675.62 Td (Agreement for the Carnival plc 2014 ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 664.2833984375 m 197.0888671875 664.2833984375 l s q 0 0 1 rg BT 108.50 665.62 Td (Employee Share Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 675.62 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 675.62 Td (10.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 675.62 Td (3/22/18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 640.07 Td (10.25*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 638.2833984375 m 313.451171875 638.2833984375 l s q 0 0 1 rg BT 108.50 639.62 Td (Form of Performance-Based Restricted Stock Unit ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 628.2833984375 m 319.466796875 628.2833984375 l s q 0 0 1 rg BT 108.50 629.62 Td (Agreement for the Carnival Corporation 201) Tj ET Q q 0 0 1 rg BT 286.69 629.62 Td (1 Stock ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 618.2833984375 m 128.7783203125 618.2833984375 l s q 0 0 1 rg BT 108.50 619.62 Td (Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 629.62 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 629.62 Td (10.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 629.62 Td (3/22/18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 594.07 Td (10.26*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 592.2833984375 m 313.44140625 592.2833984375 l s q 0 0 1 rg BT 108.50 593.62 Td (Form of Performance-Based Restricted Share Unit ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 582.2833984375 m 326.76171875 582.2833984375 l s q 0 0 1 rg BT 108.50 583.62 Td (Agreement for the Carnival plc 2014 Employee Share ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 572.2833984375002 m 128.7783203125 572.2833984375002 l s q 0 0 1 rg BT 108.50 573.62 Td (Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 583.62 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 583.62 Td (10.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 583.62 Td (3/22/18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 548.07 Td (10.27*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 546.2833984375002 m 336.5224609375 546.2833984375002 l s q 0 0 1 rg BT 108.50 547.62 Td (Form of Shareholder Equity ) Tj ET Q q 0 0 1 rg BT 222.93 547.62 Td (Alignment Restricted Stock ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 536.2833984375002 m 313.9150390625 536.2833984375002 l s q 0 0 1 rg BT 108.50 537.62 Td (Unit ) Tj ET Q q 0 0 1 rg BT 128.23 537.62 Td (Agreement for the Carnival Corporation 201) Tj ET Q q 0 0 1 rg BT 306.42 537.62 Td (1 ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 526.2833984375002 m 154.056640625 526.2833984375002 l s q 0 0 1 rg BT 108.50 527.62 Td (Stock Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 537.62 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 537.62 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 537.62 Td (6/25/18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 502.07 Td (10.28*) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 500.2833984375002 m 311.2294921875 500.2833984375002 l s q 0 0 1 rg BT 108.50 501.62 Td (Form of Non-Employee Director Restricted Stock ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 490.2833984375002 m 322.4306640625 490.2833984375002 l s q 0 0 1 rg BT 108.50 491.62 Td (A) Tj ET Q q 0 0 1 rg BT 114.80 491.62 Td (ward ) Tj ET Q q 0 0 1 rg BT 136.74 491.62 Td (Agreement for the Carnival Corporation 201) Tj ET Q q 0 0 1 rg BT 314.93 491.62 Td (1 ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 480.2833984375002 m 154.056640625 480.2833984375002 l s q 0 0 1 rg BT 108.50 481.62 Td (Stock Plan.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.70 491.62 Td (10-Q) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.25 491.62 Td (10.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.70 491.62 Td (6/25/18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 456.23 Td (Annual r) Tj ET Q q 0 0 0 rg BT 91.03 456.23 Td (eport to security holders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 429.07 Td (13) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 427.7333984375 m 253.490234375 427.7333984375 l s q 0 0 1 rg BT 108.50 429.07 Td (Portions of the 2018 ) Tj ET Q q 0 0 1 rg BT 191.83 429.07 Td (Annual Report.) 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Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.35 374.07 Td (X) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 346.23 Td (Consents of experts and counsel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 319.07 Td (23) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 317.7333984375 m 328.4560546875 317.7333984375 l s q 0 0 1 rg BT 108.50 319.07 Td (Consent of Independent Registered Public ) Tj ET Q q 0 0 1 rg BT 279.30 319.07 Td (Accounting ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 307.7333984375 m 130.4482421875 307.7333984375 l s q 0 0 1 rg BT 108.50 309.07 Td (Firm.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.35 309.17 Td (X) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 281.23 Td (Power) Tj ET Q q 0 0 0 rg BT 79.62 281.23 Td ( of attorney) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 254.07 Td (24) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 252.7333984375 m 302.3330078125 252.7333984375 l s q 0 0 1 rg BT 108.50 254.07 Td (Power of ) Tj ET Q q 0 0 1 rg BT 146.83 254.07 Td (Attorney given by certain Directors of ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 242.7333984375 m 318.744140625 242.7333984375 l s q 0 0 1 rg BT 108.50 244.07 Td (Carnival Corporation and Carnival plc to ) Tj ET Q q 0 0 1 rg BT 274.57 244.07 Td (Arnold ) Tj ET Q q 0 0 1 rg BT 305.22 244.07 Td (W) Tj ET Q q 0 0 1 rg BT 313.74 244.07 Td (. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 232.7333984375 m 335.1064453125 232.7333984375 l s q 0 0 1 rg BT 108.50 234.07 Td (Donald, David Bernstein and ) Tj ET Q q 0 0 1 rg BT 227.09 234.07 Td (Arnaldo Perez authorizing ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 222.7333984375 m 325.716796875 222.7333984375 l s q 0 0 1 rg BT 108.50 224.07 Td (such persons to sign this 2018 joint ) Tj ET Q q 0 0 1 rg BT 251.56 224.07 Td (Annual Report on ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 212.7333984375 m 329.828125 212.7333984375 l s q 0 0 1 rg BT 108.50 214.07 Td (Form 10-K and any future amendments on their behalf.) 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Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.35 72.17 Td (X) Tj ET Q endstream endobj 95 0 obj <> endobj 96 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (45) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 717.5 m 387 717.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 717.5 m 397 717.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 717.5 m 446 717.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 717.5 m 456 717.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 717.5 m 505 717.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 717.5 m 514 717.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 717.5 m 563 717.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 694.5 m 387 694.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 694.5 m 397 694.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 694.5 m 446 694.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 694.5 m 456 694.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 694.5 m 505 694.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 694.5 m 514 694.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 694.5 m 563 694.5 l s BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52.5 734.66259765625 m 152.16796875 734.66259765625 l s q 0 0 0 rg BT 52.50 736.23 Td (INDEX ) Tj ET Q q 0 0 0 rg BT 87.05 736.23 Td (T) Tj ET Q q 0 0 0 rg BT 93.54 736.23 Td (O EXHIBITS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.60 722.23 Td (Incorporated by Refer) Tj ET Q q 0 0 0 rg BT 488.60 722.23 Td (ence) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 708.23 Td (Exhibit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 698.23 Td (Number) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 108.5 697.61259765625 m 192.1181640625 697.61259765625 l s q 0 0 0 rg BT 108.50 699.18 Td (Exhibit Description) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.05 699.18 Td (Form) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.15 699.18 Td (Exhibit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.45 708.23 Td (Filing) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.00 698.23 Td (Date) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.15 708.23 Td (Filed) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.05 698.23 Td (Her) Tj ET Q q 0 0 0 rg BT 534.52 698.23 Td (ewith) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.75 685.07 Td (31.3) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 683.7333984375 m 327.40625 683.7333984375 l s q 0 0 1 rg BT 108.50 685.07 Td (Certification of President and Chief Executive Of) Tj ET Q q 0 0 1 rg BT 306.59 685.07 Td (ficer ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 673.7333984375 m 328.4365234375 673.7333984375 l s q 0 0 1 rg BT 108.50 675.07 Td (of Carnival plc pursuant to Rule 13a-14\(a\), as adopted ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 663.7333984375 m 324.8427734375 663.7333984375 l s q 0 0 1 rg BT 108.50 665.07 Td (pursuant to Section 302 of the Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 297.07 665.07 Td (Act of ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 653.7333984375 m 131 653.7333984375 l s q 0 0 1 rg BT 108.50 655.07 Td (2002.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.35 655.17 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.75 627.07 Td (31.4) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 625.7333984375 m 309.6376953125 625.7333984375 l s q 0 0 1 rg BT 108.50 627.07 Td (Certification of Chief Financial Of) Tj ET Q q 0 0 1 rg BT 247.17 627.07 Td (ficer and Chief ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 615.7333984375 m 319.92578125 615.7333984375 l s q 0 0 1 rg BT 108.50 617.07 Td (Accounting Of) Tj ET Q q 0 0 1 rg BT 168.03 617.07 Td (ficer of Carnival plc pursuant to Rule ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 605.7333984375 m 320.111328125 605.7333984375 l s q 0 0 1 rg BT 108.50 607.07 Td (13a-14\(a\), as adopted pursuant to Section 302 of the ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 595.7333984375 m 224.583984375 595.7333984375 l s q 0 0 1 rg BT 108.50 597.07 Td (Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 174.32 597.07 Td (Act of 2002.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.35 596.17 Td (X) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 568.23 Td (Section 1350 certifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 541.07 Td (32.1**) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 539.7333984375 m 327.40625 539.7333984375 l s q 0 0 1 rg BT 108.50 541.07 Td (Certification of President and Chief Executive Of) Tj ET Q q 0 0 1 rg BT 306.59 541.07 Td (ficer ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 529.7333984375 m 328.75390625 529.7333984375 l s q 0 0 1 rg BT 108.50 531.07 Td (of Carnival Corporation pursuant to 18 U.S.C. Section ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 519.7333984375 m 301.244140625 519.7333984375 l s q 0 0 1 rg BT 108.50 521.07 Td (1350, as adopted pursuant to Section 906 of the ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 509.7333984375 m 224.583984375 509.7333984375 l s q 0 0 1 rg BT 108.50 511.07 Td (Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 174.32 511.07 Td (Act of 2002.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.35 511.17 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 483.07 Td (32.2**) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 481.7333984375 m 309.6376953125 481.7333984375 l s q 0 0 1 rg BT 108.50 483.07 Td (Certification of Chief Financial Of) Tj ET Q q 0 0 1 rg BT 247.17 483.07 Td (ficer and Chief ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 471.7333984375 m 334.6474609375 471.7333984375 l s q 0 0 1 rg BT 108.50 473.07 Td (Accounting Of) Tj ET Q q 0 0 1 rg BT 168.03 473.07 Td (ficer of Carnival Corporation pursuant to ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 461.7333984375 m 332.6455078125 461.7333984375 l s q 0 0 1 rg BT 108.50 463.07 Td (18 U.S.C. Section 1350, as adopted pursuant to Section ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 451.7333984375 m 267.630859375 451.7333984375 l s q 0 0 1 rg BT 108.50 453.07 Td (906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 217.36 453.07 Td (Act of 2002.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.35 453.17 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 425.07 Td (32.3**) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 423.7333984375 m 327.40625 423.7333984375 l s q 0 0 1 rg BT 108.50 425.07 Td (Certification of President and Chief Executive Of) Tj ET Q q 0 0 1 rg BT 306.59 425.07 Td (ficer ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 413.7333984375 m 328.4755859375 413.7333984375 l s q 0 0 1 rg BT 108.50 415.07 Td (of Carnival plc pursuant to 18 U.S.C. Section 1350, as ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 403.7333984375 m 331.78125 403.7333984375 l s q 0 0 1 rg BT 108.50 405.07 Td (adopted pursuant to Section 906 of the Sarbanes-Oxley ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 393.7333984375 m 158.7685546875 393.7333984375 l s q 0 0 1 rg BT 108.50 395.07 Td (Act of 2002.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.35 395.17 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 367.07 Td (32.4**) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 365.7333984375 m 309.6376953125 365.7333984375 l s q 0 0 1 rg BT 108.50 367.07 Td (Certification of Chief Financial Of) Tj ET Q q 0 0 1 rg BT 247.17 367.07 Td (ficer and Chief ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 355.7333984375 m 311.0390625 355.7333984375 l s q 0 0 1 rg BT 108.50 357.07 Td (Accounting Of) Tj ET Q q 0 0 1 rg BT 168.03 357.07 Td (ficer of Carnival plc pursuant to 18 ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 345.7333984375 m 320.1455078125 345.7333984375 l s q 0 0 1 rg BT 108.50 347.07 Td (U.S.C. Section 1350, as adopted pursuant to Section ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 108.5 335.7333984375 m 267.630859375 335.7333984375 l s q 0 0 1 rg BT 108.50 337.07 Td (906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 217.36 337.07 Td (Act of 2002.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.35 337.17 Td (X) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 309.23 Td (Interactive data file) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 296.07 Td (101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 296.07 Td (The consolidated financial statements from Carnival) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 286.07 Td (Corporation & plc) Tj ET Q q 0 0 0 rg BT 184.87 286.07 Td (s Form 10-K for the year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 276.07 Td (November 30, 2018, as filed with the SEC on January) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 266.07 Td (28, 2019 formatted in XBRL, are as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 252.07 Td (\(i\) the Consolidated Statements of Income for the years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 242.07 Td (ended November 30, 2018, 2017 and 2016;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.35 242.17 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 228.07 Td (\(ii\) the Consolidated Statements of Comprehensive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 218.07 Td (Income for the years ended November 30, 2018, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 208.07 Td (and 2016;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.35 208.17 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 194.07 Td (\(iii\) the Consolidated Balance Sheets at November 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 184.07 Td (2018 and 2017;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.35 184.17 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 170.07 Td (\(iv\) the Consolidated Statements of Cash Flows for the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 160.07 Td (years ended November 30, 2018, 2017 and 2016;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.35 160.17 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 146.07 Td (\(v\) the Consolidated Statements of Shareholders) Tj ET Q q 0 0 0 rg BT 304.66 146.07 Td ( Equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 136.07 Td (for the years ended November 30, 2018, 2017 and 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 126.07 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.35 126.17 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 112.07 Td (\(vi\) the notes to the consolidated financial statements,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 102.07 Td (tagged in summary and detail.) 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0.9333333333333333 1 rg /GS0 gs 50.50 461.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 461.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 461.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 461.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 461.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 461.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 431.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 431.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 431.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 431.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 431.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 431.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 401.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 401.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 401.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 401.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 401.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 401.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 371.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 371.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 371.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 371.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 371.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 371.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 342.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 342.75 65.00 -15.00 re f /GS0 gs 0.8 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0.9333333333333333 1 rg /GS0 gs 428.50 282.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 282.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 282.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 252.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 252.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 252.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 252.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 252.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 252.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 222.75 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 222.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 222.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 222.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 222.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 222.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 193.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 193.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 193.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 193.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 193.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 193.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 682.75 m 424.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 682.75 m 428.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 682.75 m 493.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 682.75 m 497.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 682.75 m 562.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 682.75 m 424.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 669.75 m 424.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 682.75 m 493.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 669.75 m 493.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 682.75 m 562.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 669.75 m 562.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 595.75 m 424.5 595.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 595.75 m 493.5 595.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 595.75 m 562.5 595.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 580.75 m 424.5 580.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 580.75 m 493.5 580.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 580.75 m 562.5 580.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 446.75 m 424.5 446.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 446.75 m 493.5 446.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 446.75 m 562.5 446.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 386.75 m 424.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 386.75 m 493.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 386.75 m 562.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 371.75 m 424.5 371.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 371.75 m 493.5 371.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 371.75 m 562.5 371.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 371.75 m 424.5 371.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 356.75 m 424.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 371.75 m 493.5 371.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 356.75 m 493.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 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i [] 0 d 0 J 0 j 3 M 428.5 162.75 m 493.5 162.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 164.75 m 562.5 164.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 162.75 m 562.5 162.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 687.00 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.50 686.48 Td (Y) Tj ET Q q 0 0 0 rg BT 409.17 686.48 Td (ears Ended November) Tj ET Q q 0 0 0 rg BT 503.51 686.48 Td ( 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 674.00 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.50 673.48 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.50 673.48 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.50 673.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 660.48 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 646.32 Td (Cruise) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 631.32 Td (Passenger ticket) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 630.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 630.42 Td (13,930) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 630.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 630.42 Td (12,944) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 630.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 630.42 Td (12,090) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 616.32 Td (Onboard and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 615.42 Td (4,679) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 615.42 Td (4,330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 615.42 Td (4,068) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 601.32 Td (T) Tj ET Q q 0 0 0 rg BT 70.76 601.32 Td (our and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 600.42 Td (272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 600.42 Td (236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 600.42 Td (231) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 585.42 Td (18,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 585.42 Td (17,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 585.42 Td (16,389) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 571.48 Td (Operating Costs and Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 557.32 Td (Cruise) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 542.32 Td (Commissions, transportation and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 541.42 Td (2,590) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 541.42 Td (2,359) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 541.42 Td (2,240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 527.32 Td (Onboard and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 526.42 Td (638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 526.42 Td (587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 526.42 Td (553) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 512.32 Td (Payroll and related) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 511.42 Td (2,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 511.42 Td (2,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 511.42 Td (1,993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 497.32 Td (Fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 496.42 Td (1,619) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 496.42 Td (1,244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 496.42 Td (915) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 482.32 Td (Food) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 481.42 Td (1,066) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 481.42 Td (1,031) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 481.42 Td (1,005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 467.32 Td (Other ship operating) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 466.42 Td (2,807) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 466.42 Td (3,010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 466.42 Td (2,525) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 452.32 Td (T) Tj ET Q q 0 0 0 rg BT 70.76 452.32 Td (our and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 451.42 Td (180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 451.42 Td (163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 451.42 Td (152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 436.42 Td (1) Tj ET Q q 0 0 0 rg BT 398.15 436.42 Td (1,089) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 436.42 Td (10,501) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 436.42 Td (9,383) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 422.32 Td (Selling and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 421.42 Td (2,450) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 421.42 Td (2,265) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 421.42 Td (2,197) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 407.32 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 406.42 Td (2,017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 406.42 Td (1,846) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 406.42 Td (1,738) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 392.32 Td (Goodwill and trademark impairment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 391.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 391.42 Td (89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 391.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 376.42 Td (15,556) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 376.42 Td (14,701) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 376.42 Td (13,318) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 362.48 Td (Operating Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 361.42 Td (3,325) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 361.42 Td (2,809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 361.42 Td (3,071) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 347.48 Td (Nonoperating Income \(Expense\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 333.32 Td (Interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 332.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 332.42 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 332.42 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 318.32 Td (Interest expense, net of capitalized interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.30 317.47 Td (\(194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 317.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.30 317.47 Td (\(198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 317.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 317.47 Td (\(223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 317.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 303.32 Td (Gains \(losses\) on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 302.42 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 302.42 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 302.47 Td (\(47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 302.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 288.32 Td (Other income, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 287.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 287.42 Td (1) Tj ET Q q 0 0 0 rg BT 484.65 287.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 287.42 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.30 272.47 Td (\(1) Tj ET Q q 0 0 0 rg BT 410.63 272.47 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 272.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.30 272.47 Td (\(143) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 272.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 272.47 Td (\(243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 272.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 258.48 Td (Income Befor) Tj ET Q q 0 0 0 rg BT 110.95 258.48 Td (e Income ) Tj ET Q q 0 0 0 rg BT 151.86 258.48 Td (T) Tj ET Q q 0 0 0 rg BT 157.99 258.48 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 257.42 Td (3,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 257.42 Td (2,666) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 257.42 Td (2,828) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 243.48 Td (Income ) Tj ET Q q 0 0 0 rg BT 87.07 243.48 Td (T) Tj ET Q q 0 0 0 rg BT 93.19 243.48 Td (ax Expense, Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.30 242.47 Td (\(54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 242.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.30 242.47 Td (\(60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 242.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 242.47 Td (\(49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 242.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 228.48 Td (Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 227.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 227.42 Td (3,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 227.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 227.42 Td (2,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 227.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 227.42 Td (2,779) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 213.48 Td (Earnings Per) Tj ET Q q 0 0 0 rg BT 109.30 213.48 Td ( Shar) Tj ET Q q 0 0 0 rg BT 132.18 213.48 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 199.32 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 198.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 198.42 Td (4.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 198.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 198.42 Td (3.61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 198.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 198.42 Td (3.73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 184.32 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 183.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 183.42 Td (4.44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 183.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 183.42 Td (3.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 183.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 183.42 Td (3.72) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 169.48 Td (Dividends Declar) Tj ET Q q 0 0 0 rg BT 126.43 169.48 Td (ed Per) Tj ET Q q 0 0 0 rg BT 153.73 169.48 Td ( Shar) Tj ET Q q 0 0 0 rg BT 176.61 169.48 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 168.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 168.42 Td (1.95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 168.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 168.42 Td (1.60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 168.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 168.42 Td (1.35) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.25 Td (The accompanying notes are an integral part of these consolidated financial statements.) Tj ET Q endstream endobj 109 0 obj <>] /Rotate 0 /Contents 110 0 R>> endobj 110 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.05 31.60 Td (F-3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 224.35 742.25 Td (CARNIV) Tj ET Q q 0 0 0 rg BT 263.06 742.25 Td (AL) Tj ET Q q 0 0 0 rg BT 276.40 742.25 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 328.71 742.25 Td (TION& PLC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.75 730.25 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 214.57 730.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 249.13 730.25 Td (A) Tj ET Q q 0 0 0 rg BT 255.60 730.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 320.52 730.25 Td ( COMPREHENSIVE INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.10 718.25 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 669.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 669.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 669.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 669.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 669.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 669.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 640.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 640.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 640.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 640.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 640.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 640.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 610.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 610.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 610.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 610.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 610.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 610.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 682.75 m 424.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 682.75 m 428.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 682.75 m 493.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 682.75 m 497.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 682.75 m 562.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 682.75 m 424.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 669.75 m 424.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 682.75 m 493.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 669.75 m 562.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 669.75 m 424.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 654.75 m 424.5 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 669.75 m 493.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 654.75 m 493.5 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 669.75 m 562.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 654.75 m 562.5 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 610.75 m 424.5 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 610.75 m 493.5 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 610.75 m 562.5 610.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 595.75 m 424.5 595.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 581.75 m 424.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 579.75 m 424.5 579.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 595.75 m 493.5 595.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 581.75 m 493.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 579.75 m 493.5 579.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 595.75 m 562.5 595.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 581.75 m 562.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 579.75 m 562.5 579.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 687.00 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.50 686.48 Td (Y) Tj ET Q q 0 0 0 rg BT 409.17 686.48 Td (ears Ended November) Tj ET Q q 0 0 0 rg BT 503.51 686.48 Td ( 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 674.00 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.50 673.48 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.50 673.48 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.50 673.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 660.48 Td (Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 659.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 659.42 Td (3,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 659.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 659.42 Td (2,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 659.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 659.42 Td (2,779) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 645.48 Td (Items Included in Other) Tj ET Q q 0 0 0 rg BT 155.97 645.48 Td ( Compr) Tj ET Q q 0 0 0 rg BT 188.84 645.48 Td (ehensive \(Loss\) Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 631.32 Td (Change in foreign currency translation adjustment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.30 630.47 Td (\(199) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 630.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 630.42 Td (590) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 630.47 Td (\(675) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 630.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 616.32 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 615.42 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 615.42 Td (82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 615.47 Td (\(38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 615.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 601.48 Td (Other) Tj ET Q q 0 0 0 rg BT 78.46 601.48 Td ( Compr) Tj ET Q q 0 0 0 rg BT 111.33 601.48 Td (ehensive \(Loss\) Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.30 600.47 Td (\(167) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 600.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 600.42 Td (672) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 600.47 Td (\(713) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 600.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 586.48 Td (T) Tj ET Q q 0 0 0 rg BT 58.75 586.48 Td (otal Compr) Tj ET Q q 0 0 0 rg BT 107.73 586.48 Td (ehensive Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 585.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 585.42 Td (2,986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 585.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 585.42 Td (3,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 585.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 585.42 Td (2,066) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 560.25 Td (The accompanying notes are an integral part of these consolidated financial statements.) 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gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 682.75 m 562.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 682.75 m 493.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 669.75 m 493.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 682.75 m 562.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 669.75 m 562.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 581.75 m 493.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 581.75 m 562.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 566.75 m 493.5 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 566.75 m 562.5 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 506.75 m 493.5 506.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 492.75 m 493.5 492.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 490.75 m 493.5 490.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 506.75 m 562.5 506.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 492.75 m 562.5 492.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 490.75 m 562.5 490.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 388.75 m 493.5 388.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 388.75 m 562.5 388.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 373.75 m 493.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 373.75 m 562.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 205.75 m 493.5 205.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 190.75 m 493.5 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 205.75 m 562.5 205.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 190.75 m 562.5 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 176.75 m 493.5 176.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 174.75 m 493.5 174.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 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q 0 0 0 rg BT 543.65 631.42 Td (395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 617.32 Td (T) Tj ET Q q 0 0 0 rg BT 70.93 617.32 Td (rade and other receivables, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 616.42 Td (358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 616.42 Td (312) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 65.00 609.25 44.99 -9.09 re f /GS0 gs q 0 0 0 rg BT 65.00 602.32 Td (Inventories) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 601.42 Td (450) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 601.42 Td (387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 587.32 Td (Prepaid expenses and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 586.42 Td (436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 586.42 Td (502) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 77.00 579.25 81.87 -9.09 re f /GS0 gs q 0 0 0 rg BT 77.00 572.32 Td ( ) Tj ET Q q 0 0 0 rg BT 81.82 572.32 Td (T) Tj ET Q q 0 0 0 rg BT 87.23 572.32 Td (otal current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 571.42 Td (2,225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 571.42 Td (1,596) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 557.48 Td (Pr) Tj ET Q q 0 0 0 rg BT 63.46 557.48 Td (operty and Equipment, Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 556.42 Td (35,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 556.42 Td (34,430) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 53.00 549.25 38.90 -8.93 re f /GS0 gs q 0 0 0 rg BT 53.00 542.48 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 541.42 Td (2,925) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 541.42 Td (2,967) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 527.48 Td (Other) Tj ET Q q 0 0 0 rg BT 78.46 527.48 Td ( Intangibles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 526.42 Td (1,176) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 526.42 Td (1,200) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 53.00 519.25 53.98 -8.93 re f /GS0 gs q 0 0 0 rg BT 53.00 512.48 Td (Other) Tj ET Q q 0 0 0 rg BT 78.37 512.48 Td ( ) Tj ET Q q 0 0 0 rg BT 80.31 512.48 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 511.42 Td (738) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 511.42 Td (585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 496.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 496.42 Td (42,401) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 496.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 496.42 Td (40,778) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 53.00 489.25 215.71 -8.93 re f /GS0 gs q 0 0 0 rg BT 53.00 482.48 Td (LIABILITIES ) Tj ET Q q 0 0 0 rg BT 116.65 482.48 Td (AND SHAREHOLDERS' EQUITY) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 468.48 Td (Curr) Tj ET Q q 0 0 0 rg BT 74.57 468.48 Td (ent Liabilities) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 65.00 461.25 91.38 -9.09 re f /GS0 gs q 0 0 0 rg BT 65.00 454.32 Td (Short-term borrowings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 453.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 453.42 Td (848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 453.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 453.42 Td (485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 439.32 Td (Current portion of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 438.42 Td (1,578) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 438.42 Td (1,717) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 65.00 431.25 71.36 -9.09 re f /GS0 gs q 0 0 0 rg BT 65.00 424.32 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 423.42 Td (730) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 423.42 Td (762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 409.32 Td (Accrued liabilities and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 408.42 Td (1,654) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 408.42 Td (1,877) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 65.00 401.25 74.17 -9.09 re f /GS0 gs q 0 0 0 rg BT 65.00 394.32 Td (Customer deposits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 393.42 Td (4,395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 393.42 Td (3,958) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 379.32 Td ( ) Tj ET Q q 0 0 0 rg BT 81.82 379.32 Td (T) Tj ET Q q 0 0 0 rg BT 87.23 379.32 Td (otal current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 378.42 Td (9,204) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 378.42 Td (8,800) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 53.00 371.25 71.57 -8.93 re f /GS0 gs q 0 0 0 rg BT 53.00 364.48 Td (Long-T) Tj ET Q q 0 0 0 rg BT 84.31 364.48 Td (erm Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 363.42 Td (7,897) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 363.42 Td (6,993) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 349.48 Td (Other) Tj ET Q q 0 0 0 rg BT 78.46 349.48 Td ( Long-T) Tj ET Q q 0 0 0 rg BT 112.64 349.48 Td (erm Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 348.42 Td (856) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 348.42 Td (769) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 53.00 341.25 141.67 -8.93 re f /GS0 gs q 0 0 0 rg BT 53.00 334.48 Td (Commitments and Contingencies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 320.48 Td (Shar) Tj ET Q q 0 0 0 rg BT 73.38 320.48 Td (eholders' Equity) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 65.00 313.25 346.60 -9.09 re f /GS0 gs q 0 0 0 rg BT 65.00 306.32 Td (Common stock of Carnival Corporation, $0.01 par value; 1,960 shares authorized; 656) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 78.50 303.25 178.85 -9.09 re f /GS0 gs q 0 0 0 rg BT 78.50 296.32 Td (shares at 2018 and 655 shares at 2017 issued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 295.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 295.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 281.32 Td (Ordinary shares of Carnival plc, $1.66 par value; 217 shares at 2018 and 2017 issued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 280.42 Td (358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 280.42 Td (358) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 65.00 273.25 102.75 -9.09 re f /GS0 gs q 0 0 0 rg BT 65.00 266.32 Td (Additional paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 265.42 Td (8,756) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 265.42 Td (8,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 251.32 Td (Retained earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 250.42 Td (25,066) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 250.42 Td (23,292) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 65.00 243.25 157.45 -9.09 re f /GS0 gs q 0 0 0 rg BT 65.00 236.32 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.80 235.47 Td (\(1,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 235.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 235.47 Td (\(1,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 235.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 221.32 Td (T) Tj ET Q q 0 0 0 rg BT 70.76 221.32 Td (reasury stock, 129 shares at 2018 and 122 shares at 2017 of Carnival Corporation and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.50 211.32 Td (48 shares at 2018 and 32 shares at 2017 of Carnival plc, at cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.80 210.47 Td (\(7,795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 210.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 210.47 Td (\(6,349) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 210.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 77.00 203.25 107.56 -9.09 re f /GS0 gs q 0 0 0 rg BT 77.00 196.32 Td ( ) Tj ET Q q 0 0 0 rg BT 81.82 196.32 Td (T) Tj ET Q q 0 0 0 rg BT 87.23 196.32 Td (otal shareholders' equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 195.42 Td (24,443) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 195.42 Td (24,216) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 180.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 180.42 Td (42,401) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 180.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 180.42 Td (40,778) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 155.25 Td (The accompanying notes are an integral part of these consolidated financial statements.) Tj ET Q endstream endobj 113 0 obj <>] /Rotate 0 /Contents 114 0 R>> endobj 114 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.05 31.60 Td (F-5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 224.35 742.25 Td (CARNIV) Tj ET Q q 0 0 0 rg BT 263.06 742.25 Td (AL) Tj ET Q q 0 0 0 rg BT 276.40 742.25 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 328.71 742.25 Td (TION& PLC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.65 730.25 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 248.47 730.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 283.02 730.25 Td (A) Tj ET Q q 0 0 0 rg BT 289.50 730.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 354.42 730.25 Td ( CASH FLOWS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.10 718.25 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 669.75 314.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 669.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 669.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 669.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 669.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 669.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 640.75 512.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 610.75 314.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 610.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 610.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 610.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 610.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 610.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 580.75 314.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 580.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 580.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 580.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 580.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 580.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 550.75 314.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 550.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 550.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 550.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 550.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 550.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 520.75 314.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 520.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 520.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 520.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 520.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 520.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 490.75 314.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 490.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 490.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 490.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 490.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 490.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 460.75 314.00 -15.00 re f /GS0 gs 0.8 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1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 682.75 m 427.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 682.75 m 431.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 682.75 m 494.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 682.75 m 498.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 682.75 m 562.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 669.75 m 427.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 669.75 m 494.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 669.75 m 562.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 550.75 m 427.5 550.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 550.75 m 494.5 550.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 550.75 m 562.5 550.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 430.75 m 427.5 430.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 430.75 m 494.5 430.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 430.75 m 562.5 430.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 415.75 m 427.5 415.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 415.75 m 494.5 415.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 415.75 m 562.5 415.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 341.75 m 427.5 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 341.75 m 494.5 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 341.75 m 562.5 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 326.75 m 427.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 326.75 m 494.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 326.75 m 562.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 207.75 m 427.5 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 207.75 m 494.5 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 207.75 m 562.5 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 192.75 m 427.5 192.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 192.75 m 494.5 192.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 192.75 m 562.5 192.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 177.75 m 427.5 177.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 192.75 m 494.5 192.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 177.75 m 494.5 177.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 192.75 m 562.5 192.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 177.75 m 562.5 177.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 147.75 m 427.5 147.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 147.75 m 494.5 147.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 147.75 m 562.5 147.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 133.75 m 427.5 133.75 l s 0 0 0 RG /GS0 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673.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 660.48 Td (OPERA) Tj ET Q q 0 0 0 rg BT 87.63 660.48 Td (TING ) Tj ET Q q 0 0 0 rg BT 115.04 660.48 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 646.32 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.00 645.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 645.42 Td (3,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 645.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 645.42 Td (2,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.00 645.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 645.42 Td (2,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 631.32 Td (Adjustments to reconcile net income to net cash provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 616.32 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 615.42 Td (2,017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 615.42 Td (1,846) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 615.42 Td (1,738) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 601.32 Td (Impairments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.65 600.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 600.42 Td (392) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 600.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 586.32 Td (\(Gains\) losses on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.30 585.47 Td (\(59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 585.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.30 585.47 Td (\(35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 585.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 585.42 Td (47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 571.32 Td (Share-based compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.65 570.42 Td (65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 570.42 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 570.42 Td (55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 556.32 Td (Other) Tj ET Q q 0 0 0 rg BT 87.57 556.32 Td (, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.30 555.47 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 555.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 555.42 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 555.42 Td (71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 540.42 Td (5,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 540.42 Td (4,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 540.42 Td (4,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 526.32 Td (Changes in operating assets and liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 511.32 Td (Receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.30 510.47 Td (\(58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 510.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.65 510.42 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 510.47 Td 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10.00 Tf ET q 0 0 0 rg BT 423.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 465.42 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 465.42 Td (109) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 65.00 458.25 113.57 -9.09 re f /GS0 gs q 0 0 0 rg BT 65.00 451.32 Td (Accrued and other liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 450.47 Td (\(100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 450.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 450.42 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 450.47 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 450.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 436.32 Td (Customer deposits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 435.42 Td (539) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 435.42 Td (361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 435.42 Td (366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 421.32 Td (Net cash 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ships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 376.42 Td (389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 376.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 376.42 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 362.32 Td (Payments of fuel derivative settlements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.30 361.47 Td (\(39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 361.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.30 361.47 Td (\(203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 361.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 361.47 Td (\(291) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 361.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 347.32 Td (Other) Tj ET Q q 0 0 0 rg BT 75.57 347.32 Td (, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 346.47 Td (\(102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 346.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 346.42 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 346.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 332.32 Td (Net cash used in investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.80 331.47 Td (\(3,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 331.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.80 331.47 Td (\(3,089) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 331.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 331.47 Td (\(3,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 331.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 317.48 Td (FINANCING ) Tj ET Q q 0 0 0 rg BT 112.73 317.48 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 303.32 Td (Proceeds from \(repayments of\) short-term borrowings, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 302.42 Td (417) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.30 302.47 Td (\(29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 302.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 302.42 Td (447) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 288.32 Td (Principal repayments of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.80 287.47 Td (\(1,556) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 287.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.80 287.47 Td (\(1,227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 287.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 287.47 Td (\(1,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 287.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 273.32 Td (Proceeds from issuance of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 272.42 Td (2,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 272.42 Td (467) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 272.42 Td (1,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 258.32 Td (Dividends paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.80 257.47 Td (\(1,355) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 257.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.80 257.47 Td (\(1,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 257.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 257.47 Td (\(977) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 257.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 243.32 Td (Purchases of treasury stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.80 242.47 Td (\(1,468) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 242.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.30 242.47 Td (\(552) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 242.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 242.47 Td (\(2,340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 242.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 228.32 Td (Sales of treasury stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.65 227.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 227.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 227.42 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 213.32 Td (Other) Tj ET Q q 0 0 0 rg BT 75.57 213.32 Td (, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.30 212.47 Td (\(39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 212.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.30 212.47 Td (\(24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 212.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 212.47 Td (\(25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 212.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 198.32 Td (Net cash used in financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.80 197.47 Td (\(1,460) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 197.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.80 197.47 Td (\(2,452) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 197.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 197.47 Td (\(2,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 197.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 183.32 Td (Ef) Tj ET Q q 0 0 0 rg BT 62.35 183.32 Td (fect of exchange rate changes on cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.30 182.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 182.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 182.42 Td (1) Tj ET Q q 0 0 0 rg BT 485.65 182.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 182.47 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 182.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 168.32 Td (Net increase \(decrease\) in cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 167.42 Td (587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.30 167.47 Td (\(208) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 167.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 167.47 Td (\(792) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 167.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 153.32 Td (Cash and cash equivalents at beginning of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 152.42 Td (395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 152.42 Td (603) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 152.42 Td (1,395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 138.32 Td (Cash and cash equivalents at end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.00 137.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 137.42 Td (982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 137.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 137.42 Td (395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.00 137.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 137.42 Td (603) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.25 Td (The accompanying notes are an integral part of these consolidated financial statements.) 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335 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 310.75 m 335 310.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 326.75 m 388 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 312.75 m 388 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 310.75 m 388 310.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 326.75 m 450 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 312.75 m 450 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 310.75 m 450 310.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 326.75 m 500 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 312.75 m 500 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 310.75 m 500 310.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 326.75 m 562 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 312.75 m 562 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 310.75 m 562 310.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 199.70 670.98 Td (Common) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 206.60 662.98 Td (stock) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 247.25 670.98 Td (Ordinary) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.65 662.98 Td (shar) Tj ET Q q 0 0 0 rg BT 267.69 662.98 Td (es) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 294.25 678.98 Td (Additional) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 300.25 670.98 Td (paid-in) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 300.90 662.98 Td (capital) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.65 670.98 Td (Retained) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.30 662.98 Td (earnings) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 397.80 686.98 Td (Accumulated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 411.45 678.98 Td (other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.00 670.98 Td (compr) Tj ET Q q 0 0 0 rg BT 417.14 670.98 Td (ehensive) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.25 662.98 Td (loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.05 670.98 Td (T) Tj ET Q q 0 0 0 rg BT 466.09 670.98 Td (r) Tj ET Q q 0 0 0 rg BT 469.27 670.98 Td (easury) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.60 662.98 Td (stock) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.75 678.98 Td (T) Tj ET Q q 0 0 0 rg BT 528.35 678.98 Td (otal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.50 670.98 Td (shar) Tj ET Q q 0 0 0 rg BT 524.47 670.98 Td (eholders) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.80 662.98 Td (equity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 648.43 Td (At November) Tj ET Q q 0 0 0 rg BT 109.80 648.43 Td ( 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.50 648.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.15 648.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.50 648.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.15 648.42 Td (358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.50 648.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.65 648.42 Td (8,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.50 648.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.65 648.42 Td (20,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.50 648.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.30 648.47 Td (\(1,741) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 648.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 648.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 648.47 Td (\(3,475) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 648.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.50 648.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 648.42 Td (23,771) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 634.32 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 633.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 633.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 633.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.65 633.42 Td (2,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 633.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 633.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 633.42 Td (2,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 619.32 Td (Other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 618.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 618.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 618.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.15 618.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.80 618.47 Td (\(713) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 618.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 618.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 618.47 Td (\(713) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 618.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 604.32 Td (Cash dividends declared) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 603.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 603.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 603.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.80 603.47 Td (\(996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 603.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 603.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 603.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 603.47 Td (\(996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 603.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 589.32 Td (Purchases and sales under the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 579.32 Td (Stock Swap program, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 578.42 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.15 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 578.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.80 578.47 Td (\(13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 578.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 578.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 564.32 Td (Purchases of treasury stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 554.32 Td (under the Repurchase Program) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 544.32 Td (and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 543.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 543.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 543.42 Td (56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.15 543.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 543.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 543.47 Td (\(2,301) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 543.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 543.47 Td (\(2,245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 543.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 529.48 Td (At November) Tj ET Q q 0 0 0 rg BT 109.89 529.48 Td ( 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.15 528.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.15 528.42 Td (358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.65 528.42 Td (8,632) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.65 528.42 Td (21,843) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.30 528.47 Td (\(2,454) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 528.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 528.47 Td (\(5,789) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 528.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 528.42 Td (22,597) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 514.32 Td (Change in accounting principle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 504.32 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 504.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 504.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 504.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.80 504.47 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 504.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 504.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 504.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 504.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 490.32 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 489.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 489.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 489.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.65 489.42 Td (2,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 489.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 489.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 489.42 Td (2,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 475.32 Td (Other comprehensive income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 474.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 474.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 474.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.15 474.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 474.42 Td (672) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 474.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 474.42 Td (672) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 460.32 Td (Cash dividends declared) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 459.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 459.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 459.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.30 459.47 Td (\(1,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 459.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 459.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 459.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 459.47 Td (\(1,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 459.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 445.32 Td (Purchases of treasury stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 435.32 Td (under the Repurchase Program) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 425.32 Td (and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 425.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 425.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 425.42 Td (56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.15 425.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 425.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.80 425.47 Td (\(560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 425.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 425.47 Td (\(504) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 425.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 411.48 Td (At November) Tj ET Q q 0 0 0 rg BT 109.89 411.48 Td ( 30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.15 410.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.15 410.42 Td (358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.65 410.42 Td (8,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.65 410.42 Td (23,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.30 410.47 Td (\(1,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 410.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 410.47 Td (\(6,349) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 410.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 410.42 Td (24,216) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 396.32 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 395.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 395.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 395.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.65 395.42 Td (3,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 395.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 395.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 395.42 Td (3,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 381.32 Td (Other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 380.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 380.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 380.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.15 380.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.80 380.47 Td (\(167) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 380.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 380.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 380.47 Td (\(167) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 380.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 366.32 Td (Cash dividends declared) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 365.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 365.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 365.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.30 365.47 Td (\(1,378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 365.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 365.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 365.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 365.47 Td (\(1,378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 365.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 351.32 Td (Purchases of treasury stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 341.32 Td (under the Repurchase Program) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 331.32 Td (and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 331.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.15 331.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 331.42 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.15 331.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 331.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 331.47 Td (\(1,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 331.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 331.47 Td (\(1,380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 331.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 317.48 Td (AtNovember) Tj ET Q q 0 0 0 rg BT 109.80 317.48 Td (30,2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.50 316.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.15 316.42 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.50 316.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.15 316.42 Td (358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.50 316.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.65 316.42 Td (8,756) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.50 316.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.65 316.42 Td (25,066) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.50 316.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.30 316.47 Td (\(1,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 316.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 316.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 316.47 Td (\(7,795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 316.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.50 316.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 316.42 Td (24,443) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 291.25 Td (The accompanying notes are an integral part of these consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 267.25 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 76.50 267.25 Td (W) Tj ET Q q 0 0 0 rg BT 85.14 267.25 Td (e elected to early adopt the provisions of ) Tj ET Q q 0 0 0 rg BT 249.53 267.25 Td (ASU 2016-09,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.87 267.25 Td ( Compensation - Stock Compensation - Impr) Tj ET Q q 0 0 0 rg BT 485.81 267.25 Td (ovements to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 76.50 255.25 Td (Employee Shar) Tj ET Q q 0 0 0 rg BT 136.94 255.25 Td (e-Based Payment ) Tj ET Q q 0 0 0 rg BT 208.96 255.25 Td (Accounting, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.50 255.25 Td (on December 1, 2016 using the modified retrospective approach. ) Tj ET Q q 0 0 0 rg BT 521.18 255.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 243.25 Td (impact primarily related to forfeitures.) Tj ET Q endstream endobj 117 0 obj <>] /Rotate 0 /Contents 118 0 R>> endobj 118 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.05 31.60 Td (F-7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 224.35 742.25 Td (CARNIV) Tj ET Q q 0 0 0 rg BT 263.06 742.25 Td (AL) Tj ET Q q 0 0 0 rg BT 276.40 742.25 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 328.71 742.25 Td (TION& PLC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 175.30 730.25 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 211.52 730.25 Td (T) Tj ET Q q 0 0 0 rg BT 218.01 730.25 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 288.11 730.25 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 367.29 730.25 Td ( ST) Tj ET Q q 0 0 0 rg BT 381.28 730.25 Td (A) Tj ET Q q 0 0 0 rg BT 387.76 730.25 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (NOTE 1 General ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (Description of Business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (Carnival Corporation was incorporated in Panama in 1972 and Carnival plc was incorporated in England and ) Tj ET Q q 0 0 0 rg BT 488.59 658.25 Td (W) Tj ET Q q 0 0 0 rg BT 497.23 658.25 Td (ales in 2000. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 646.25 Td (ogether with their consolidated subsidiaries, they are referred to collectively in these consolidated financial statements and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (elsewhere in this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.70 634.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.70 634.25 Td ( ) Tj ET Q q 0 0 0 rg BT 141.65 634.25 Td (Annual Report as Carnival Corporation& plc, our) Tj ET Q q 0 0 0 rg BT 355.63 634.25 Td (, us and we. ) Tj ET Q q 0 0 0 rg BT 427.64 634.25 Td (The consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (statements include the accounts of Carnival Corporation and Carnival plc and their respective subsidiaries.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.54 622.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 598.25 Td (e are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.28 598.25 Td (the world) Tj ET Q q 0 0 0 rg BT 121.11 598.25 Td (s lar) Tj ET Q q 0 0 0 rg BT 137.87 598.25 Td (gest leisure travel company and among the most profitable and financially strong in the cruise and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (vacation industries.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.76 586.25 Td ( ) Tj ET Q q 0 0 0 rg BT 130.08 586.25 Td (W) Tj ET Q q 0 0 0 rg BT 138.72 586.25 Td (e are also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.97 586.25 Td (the lar) Tj ET Q q 0 0 0 rg BT 204.05 586.25 Td (gest cruise company) Tj ET Q q 0 0 0 rg BT 285.04 586.25 Td (, carrying nearly half of global cruise guests, and a leading provider ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (of vacations to all major cruise destinations throughout the world. ) Tj ET Q q 0 0 0 rg BT 315.60 574.25 Td (W) Tj ET Q q 0 0 0 rg BT 324.63 574.25 Td (ith operations in North ) Tj ET Q q 0 0 0 rg BT 417.40 574.25 Td (America, ) Tj ET Q q 0 0 0 rg BT 456.27 574.25 Td (Australia, Europe and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (Asia,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.83 562.25 Td ( we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.49 562.25 Td (operate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.91 562.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.41 562.25 Td (a portfolio of leading global, regional and national cruise brands that sell tailored cruise products, services and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (vacation experiences on 104 cruise ships to the world) Tj ET Q q 0 0 0 rg BT 266.61 550.25 Td (s most desirable destinations.) Tj ET Q BT /F1 10.00 Tf ET BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (DLC ) Tj ET Q q 0 0 0 rg BT 72.13 526.25 Td (Arrangement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (Carnival Corporation and Carnival plc operate a dual listed company \(DLC\) arrangement, whereby the businesses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (Carnival Corporation and Carnival plc are combined through a number of contracts and provisions in Carnival Corporation) Tj ET Q q 0 0 0 rg BT 545.43 490.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (Articles of Incorporation and By-Laws and Carnival plc) Tj ET Q q 0 0 0 rg BT 276.88 478.25 Td (s ) Tj ET Q q 0 0 0 rg BT 282.71 478.25 Td (Articles of ) Tj ET Q q 0 0 0 rg BT 327.15 478.25 Td (Association.) Tj ET Q q 0 0 0 rg BT 379.18 478.25 Td (The) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.73 478.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.23 478.25 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.23 478.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.73 478.25 Td (companies operate as a single ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (economic enterprise with a single senior executive management team and identical Boards of Directors, but each has retained ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (its separate legal identity) Tj ET Q q 0 0 0 rg BT 149.04 454.25 Td (.Each company) Tj ET Q q 0 0 0 rg BT 215.96 454.25 Td (s shares are publicly traded; on the New ) Tj ET Q q 0 0 0 rg BT 378.31 454.25 Td (Y) Tj ET Q q 0 0 0 rg BT 384.53 454.25 Td (ork Stock Exchange \(NYSE\) for Carnival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (Corporation and the London Stock Exchange \(LSE\) for Carnival plc.) Tj ET Q q 0 0 0 rg BT 337.24 442.25 Td (The Carnival plc ) Tj ET Q q 0 0 0 rg BT 406.38 442.25 Td (American Depository Shares are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (traded on the NYSE.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.32 430.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (The constitutional documents of each company provide that, on most matters, the holders of the common equity of both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (companies ef) Tj ET Q q 0 0 0 rg BT 102.85 394.25 Td (fectively vote as a single body) Tj ET Q q 0 0 0 rg BT 223.55 394.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.05 394.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.37 394.25 Td (The Equalization and Governance ) Tj ET Q q 0 0 0 rg BT 366.65 394.25 Td (Agreement between Carnival Corporation and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (Carnival plc provides for the equalization of dividends and liquidation distributions based on an equalization ratio and contains ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (provisions relating to the governance of the DLC arrangement. Because the equalization ratio is) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.20 370.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.70 370.25 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.70 370.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.48 370.25 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.48 370.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.48 370.25 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.92 370.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.42 370.25 Td (share of Carnival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (Corporation common stock and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.87 358.25 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.31 358.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.81 358.25 Td (Carnival plc ordinary share are generally entitled to the same distributions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.38 358.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (Under deeds of guarantee executed in connection with the DLC arrangement, as well as stand-alone guarantees executed since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (that time, each of Carnival Corporation and Carnival plc have ef) Tj ET Q q 0 0 0 rg BT 307.23 322.25 Td (fectively cross guaranteed all indebtedness and certain other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (monetary obligations of each other) Tj ET Q q 0 0 0 rg BT 188.85 310.25 Td (. Once the written demand is made, the holders of indebtedness or other obligations may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (immediately commence an action against the relevant guarantor) Tj ET Q q 0 0 0 rg BT 305.18 298.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.18 298.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (Under the terms of the DLC arrangement, Carnival Corporation and Carnival plc are permitted to transfer assets between the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (companies, make loans to or investments in each other and otherwise enter into intercompany transactions. In addition, the cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (flows and assets of one company are required to be used to pay the obligations of the other company) Tj ET Q q 0 0 0 rg BT 451.46 250.25 Td (, if necessary) Tj ET Q q 0 0 0 rg BT 503.29 250.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.79 250.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (Given the DLC arrangement, we believe that providing separate financial statements for each of Carnival Corporation and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (Carnival plc would not present a true and fair view of the economic realities of their operations. ) Tj ET Q q 0 0 0 rg BT 434.87 214.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 484.21 214.25 Td (, separate financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (statements for Carnival Corporation and Carnival plc have not been presented.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.07 202.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (NOTE 2 Summary of Significant ) Tj ET Q q 0 0 0 rg BT 199.46 178.25 Td (Accounting Policies ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (Basis of Presentation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 130.25 Td (e consolidate entities over which we have control, as typically evidenced by a voting control of greater than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.54 130.25 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.87 130.25 Td ( or for which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (we are the primary beneficiary) Tj ET Q q 0 0 0 rg BT 172.06 118.25 Td (, whereby we have the power to direct the most significant activities and the obligation to absorb ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (significant losses or receive significant benefits from the entity) Tj ET Q q 0 0 0 rg BT 300.94 106.25 Td (.) Tj ET Q q 0 0 0 rg BT 305.76 106.25 Td (W) Tj ET Q q 0 0 0 rg BT 314.40 106.25 Td (e do not separately present our noncontrolling interests in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (consolidated financial statements since the amounts are immaterial. For af) Tj ET Q q 0 0 0 rg BT 346.39 94.25 Td (filiates we do not control but where significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.25 Td (influence over financial and operating policies exists, as typically evidenced by a voting control of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.54 82.25 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.87 82.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 82.25 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.98 82.25 Td (, the investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (is accounted for using the equity method.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.24 70.25 Td ( ) Tj ET Q endstream endobj 119 0 obj <>] /Rotate 0 /Contents 120 0 R>> endobj 120 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.05 31.60 Td (F-8) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Preparation of Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (The preparation of our consolidated financial statements in conformity with accounting principles generally accepted in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (United States of ) Tj ET Q q 0 0 0 rg BT 116.38 706.25 Td (America \(U.S. GAAP\) requires management to make estimates and assumptions that af) Tj ET Q q 0 0 0 rg BT 475.26 706.25 Td (fect the amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (reported and disclosed in our consolidated financial statements. ) Tj ET Q q 0 0 0 rg BT 305.76 694.25 Td (Actual results may dif) Tj ET Q q 0 0 0 rg BT 394.17 694.25 Td (fer from the estimates used in preparing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (our consolidated financial statements.) Tj ET Q q 0 0 0 rg BT 203.01 682.25 Td (All significant intercompany balances and transactions are eliminated in consolidation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.68 682.25 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (Cash and Cash Equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (Cash and cash equivalents include investments with maturities of three months or less at acquisition, which are stated at cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (and present insignificant risk of changes in value.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.28 622.25 Td () Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (Inventories) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (Inventories consist substantially of food, beverages, hotel supplies, fuel and gift shop merchandise, which are all carried at the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (lower of cost or net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.75 562.25 Td ( realizable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.61 562.25 Td (value.Cost is determined using the weighted-average or first-in, first-out methods.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.36 562.25 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (Property and Equipment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (Property and equipment are stated at cost less accumulated depreciation.Depreciation is computed using the straight-line ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (method over our estimates of useful lives and residual values, as a percentage of original cost, as follows: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.32 502.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 470.75 269.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 470.75 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 470.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 470.75 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 440.75 269.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 440.75 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 440.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 440.75 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 410.75 269.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 410.75 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 410.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 410.75 90.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 470.75 m 468.5 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 470.75 m 562.5 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 470.75 m 468.5 470.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.55 475.43 Td (Y) Tj ET Q q 0 0 0 rg BT 388.22 475.43 Td (ears) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.35 482.48 Td (Residual) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.00 472.53 Td (V) Tj ET Q q 0 0 0 rg BT 509.30 472.53 Td (alues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 461.32 Td (Ships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.50 460.42 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.80 460.42 Td (15%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 446.32 Td (Ship improvements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 445.42 Td (3-30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.80 445.42 Td ( 0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 431.32 Td (Buildings and improvements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.80 430.42 Td (10-40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.50 430.42 Td (0% or 10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 416.32 Td (Computer hardware and software) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 415.42 Td (3-12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.50 415.42 Td (0% or 10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 401.32 Td (T) Tj ET Q q 0 0 0 rg BT 58.93 401.32 Td (ransportation equipment and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 401.32 Td (3-20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.50 401.32 Td (0% or 10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 386.32 Td (Leasehold improvements, including port facilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 386.32 Td (Shorter of the remaining lease term) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.85 376.32 Td (or related asset life \(3-30\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.30 386.32 Td (0%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 347.25 Td (The cost of ships under construction include progress payments for the construction of new ships, as well as design and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.25 Td (engineering fees,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.30 335.25 Td ( capitalized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.61 335.25 Td (interest, construction oversight costs and various owner supplied items. ) Tj ET Q q 0 0 0 rg BT 454.43 335.25 Td (W) Tj ET Q q 0 0 0 rg BT 463.07 335.25 Td (e account for ship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 323.25 Td (improvement costs by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.32 323.25 Td ( capitalizing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.97 323.25 Td (those costs we believe add value to our ships and have a useful life greater than one year and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.25 Td (depreciate those improvements over their estimated useful life. ) Tj ET Q q 0 0 0 rg BT 303.90 311.25 Td (W) Tj ET Q q 0 0 0 rg BT 312.53 311.25 Td (e have a capital program for the improvement of our ships ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.25 Td (and for asset replacements in order to enhance the ef) Tj ET Q q 0 0 0 rg BT 260.00 299.25 Td (fectiveness and ef) Tj ET Q q 0 0 0 rg BT 331.45 299.25 Td (ficiency of our operations; to comply with, or exceed all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 287.25 Td (relevant legal and statutory requirements related to health, environment, safety) Tj ET Q q 0 0 0 rg BT 363.96 287.25 Td (, security and sustainability; and to gain strategic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 275.25 Td (benefits or provide improved product innovations to our guests. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.18 275.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 251.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 251.25 Td (e capitalize ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.38 251.25 Td (interest as part of the cost of capital projects during their construction period. ) Tj ET Q q 0 0 0 rg BT 417.22 251.25 Td (The specifically identified or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 239.25 Td (estimated cost and accumulated depreciation of previously) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.36 239.25 Td ( capitalized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.67 239.25 Td (ship components are written-of) Tj ET Q q 0 0 0 rg BT 457.17 239.25 Td (f upon retirement, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 227.25 Td (may result in a loss on disposal that is also included in other ship operating expenses. Liquidated damages received from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 215.25 Td (shipyards as a result of late ship delivery are recorded as reductions to the cost basis of the ship.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.50 215.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 191.25 Td (The costs of repairs and maintenance, including minor improvement costs and dry-dock expenses, are char) Tj ET Q q 0 0 0 rg BT 476.90 191.25 Td (ged to expense as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 179.25 Td (incurred and included in other ship operating expenses. Dry-dock expenses primarily represent planned major maintenance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 167.25 Td (activities that are incurred when a ship is taken out-of-service for scheduled maintenance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.47 167.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 143.25 Td (e review our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 131.25 Td (amounts of these assets may not be fully recoverable. Upon the occurrence of a triggering event, the assessment of possible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 119.25 Td (impairment is based on our ability to recover the carrying value of our asset from the asset) Tj ET Q q 0 0 0 rg BT 414.33 119.25 Td (s estimated undiscounted future cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 107.25 Td (flows. If these estimated undiscounted future cash flows are less than the carrying value of the asset, an impairment char) Tj ET Q q 0 0 0 rg BT 531.60 107.25 Td (ge is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 95.25 Td (recognized for the excess, if any) Tj ET Q q 0 0 0 rg BT 178.74 95.25 Td (, of the asset) Tj ET Q q 0 0 0 rg BT 231.50 95.25 Td (s carrying value over its estimated fair value. ) Tj ET Q q 0 0 0 rg BT 413.75 95.25 Td (The lowest level for which we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 83.25 Td (maintain identifiable cash flows that are independent of the cash flows of other assets and liabilities is at the individual ship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.25 Td (level. ) Tj ET Q q 0 0 0 rg BT 73.88 71.25 Td (A) Tj ET Q q 0 0 0 rg BT 80.55 71.25 Td ( significant amount of judgment is required in estimating the future cash flows and fair values of our cruise ships.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.33 71.25 Td ( ) Tj ET Q endstream endobj 121 0 obj <>] /Rotate 0 /Contents 122 0 R>> endobj 122 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.05 31.60 Td (F-9) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (Goodwill and Other Intangibles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in a business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (acquisition. ) Tj ET Q q 0 0 0 rg BT 98.70 694.25 Td (W) Tj ET Q q 0 0 0 rg BT 107.34 694.25 Td (e review our goodwill for impairment at least annually and as events or circumstances dictate. ) Tj ET Q q 0 0 0 rg BT 484.99 694.25 Td (All of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (goodwill has been allocated to our reporting units. ) Tj ET Q q 0 0 0 rg BT 253.38 682.25 Td (The impairment review for goodwill allows us to first assess qualitative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (factors to determine whether it is necessary to perform the more detailed quantitative goodwill impairment test. ) Tj ET Q q 0 0 0 rg BT 497.73 670.25 Td (W) Tj ET Q q 0 0 0 rg BT 506.37 670.25 Td (e would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (perform the quantitative test if our qualitative assessment determined it is more-likely-than-not that a reporting unit) Tj ET Q q 0 0 0 rg BT 514.04 658.25 Td (s estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (fair value is less than its carrying amount. ) Tj ET Q q 0 0 0 rg BT 219.50 646.25 Td (W) Tj ET Q q 0 0 0 rg BT 228.13 646.25 Td (e may also elect to bypass the qualitative assessment and proceed directly to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (quantitative test for any reporting unit. ) Tj ET Q q 0 0 0 rg BT 206.72 634.25 Td (When performing the quantitative test, if the estimated fair value of the reporting unit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (exceeds its carrying value, no further analysis is required. However) Tj ET Q q 0 0 0 rg BT 319.22 622.25 Td (, if the estimated fair value of the reporting unit is less than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (the carrying value, goodwill is written down based on the dif) Tj ET Q q 0 0 0 rg BT 293.37 610.25 Td (ference between the reporting unit) Tj ET Q q 0 0 0 rg BT 433.31 610.25 Td (s carrying amount and its fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (value, limited to the amount of goodwill allocated to the reporting unit.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.66 598.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 574.25 Td (rademarks represent substantially all of our other intangibles. For certain acquisitions, we have allocated a portion of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (purchase prices to the acquiree) Tj ET Q q 0 0 0 rg BT 176.05 562.25 Td (s identified trademarks. ) Tj ET Q q 0 0 0 rg BT 272.50 562.25 Td (T) Tj ET Q q 0 0 0 rg BT 278.26 562.25 Td (rademarks are estimated to have an indefinite useful life and are not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (amortizable but are reviewed for impairment at least annually and as events or circumstances dictate. ) Tj ET Q q 0 0 0 rg BT 456.32 550.25 Td (The impairment review ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (for trademarks also allows us to first assess qualitative factors to determine whether it is necessary to perform a more detailed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (quantitative trademark impairment test. ) Tj ET Q q 0 0 0 rg BT 210.04 526.25 Td (W) Tj ET Q q 0 0 0 rg BT 218.68 526.25 Td (e would perform the quantitative test if our qualitative assessment determined it was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (more-likely-than-not that the trademarks are impaired. ) Tj ET Q q 0 0 0 rg BT 270.01 514.25 Td (W) Tj ET Q q 0 0 0 rg BT 278.65 514.25 Td (e may also elect to bypass the qualitative assessment and proceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (directly to the quantitative test. Our trademarks would be considered impaired if their carrying value exceeds their estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (fair value.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.53 490.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 466.25 Td ( significant amount of judgment is required in estimating the fair values of our reporting units and trademarks.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.67 466.25 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (Derivatives and Other Financial Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 418.25 Td (e utilize derivative and non-derivative financial instruments, such as foreign currency forwards, options and swaps, foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (currency debt obligations and foreign currency cash balances, to manage our exposure to fluctuations in certain foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (currency exchange rates. ) Tj ET Q q 0 0 0 rg BT 151.43 394.25 Td (W) Tj ET Q q 0 0 0 rg BT 160.06 394.25 Td (e use interest rate swaps to manage our interest rate exposure to achieve a desired proportion of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (fixed and floating rate debt.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.79 382.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.29 382.25 Td (Our policy is to not use any financial instruments for trading or other speculative purposes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.37 382.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (All derivatives are recorded at fair value. If a derivative is designated as a cash flow hedge, then the ef) Tj ET Q q 0 0 0 rg BT 459.36 358.25 Td (fective portion of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (changes in the fair value of the derivative is recognized as a component of accumulated other comprehensive income \(AOCI\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (until the underlying hedged item is recognized in earnings or the forecasted transaction is no longer probable.If a derivative or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (a non-derivative financial instrument is designated as a hedge of our net investment in a foreign operation, then changes in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (fair value of the financial instrument are recognized as a component of ) Tj ET Q q 0 0 0 rg BT 334.88 310.25 Td (AOCI to of) Tj ET Q q 0 0 0 rg BT 380.25 310.25 Td (fset a portion of the change in the translated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (value of the net investment being hedged until the investment is sold or substantially liquidated. ) Tj ET Q q 0 0 0 rg BT 435.49 298.25 Td (Any inef) Tj ET Q q 0 0 0 rg BT 470.58 298.25 Td (fective portion is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (immediately recognized in earnings. For derivatives that do not qualify for hedge accounting treatment, the change in fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (is recognized in earnings.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.19 274.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 250.25 Td (e classify the fair value of all our derivative contracts as either current or long-term, depending on the maturity date of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (derivative contract. ) Tj ET Q q 0 0 0 rg BT 129.50 238.25 Td (The cash flows from derivatives treated as hedges are classified in our Consolidated Statements of Cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (Flows in the same category as the item being hedged.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.83 226.25 Td (Our cash flows related to fuel derivatives are classified within investing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (activities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 190.25 Td (e measure our derivatives using valuations that are calibrated to the initial trade prices.Subsequent valuations are based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (observable inputs and other variables included in the valuation model such as interest rate,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.56 178.25 Td ( yield and commodity price curves, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (forward currency exchange rates, credit spreads, maturity dates, volatilities and netting arrangements.) Tj ET Q q 0 0 0 rg BT 458.55 166.25 Td (W) Tj ET Q q 0 0 0 rg BT 467.19 166.25 Td (e use the income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (approach to value derivatives for foreign currency options and forwards, and interest rate swaps using observable market data ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (for all significant inputs and standard valuation techniques to convert future amounts to a single present value amount, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (assuming that participants are motivated but not compelled to transact. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.20 130.25 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (Foreign Currency T) Tj ET Q q 0 0 0 rg BT 132.97 106.25 Td (ranslation and T) Tj ET Q q 0 0 0 rg BT 201.51 106.25 Td (ransactions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.25 Td (Each foreign entity determines its functional currency by reference to its primary economic environment. ) Tj ET Q q 0 0 0 rg BT 473.27 82.25 Td (W) Tj ET Q q 0 0 0 rg BT 481.91 82.25 Td (e translate the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (assets and liabilities of our foreign entities that have functional currencies other than the U.S. dollar at exchange rates in ef) Tj ET Q q 0 0 0 rg BT 540.21 70.25 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (at the balance sheet date. Revenues and expenses of these foreign entities are translated at weighted-average exchange rates for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (the period. Equity is translated at historical rates and the resulting foreign currency translation adjustments are included as a ) Tj ET Q endstream endobj 123 0 obj <>] /Rotate 0 /Contents 124 0 R>> endobj 124 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (component of ) Tj ET Q q 0 0 0 rg BT 107.21 742.10 Td (AOCI, which is a separate component of shareholders) Tj ET Q q 0 0 0 rg BT 325.84 742.10 Td ( equity) Tj ET Q q 0 0 0 rg BT 352.69 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 357.51 742.10 Td (Therefore, the U.S. dollar value of the non-equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (translated items in our consolidated financial statements will fluctuate from period to period, depending on the changing value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (of the U.S. dollar versus these currencies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.34 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 694.10 Td (e execute transactions in a number of dif) Tj ET Q q 0 0 0 rg BT 220.89 694.10 Td (ferent currencies. ) Tj ET Q q 0 0 0 rg BT 292.24 694.10 Td (At the date that thetransactionis recognized, each asset, liability) Tj ET Q q 0 0 0 rg BT 550.94 694.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (revenue, expense, gain or loss arising from thetransactionis measured and recorded in the functional currency of the recording ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (entity using the exchange rate in ef) Tj ET Q q 0 0 0 rg BT 189.77 670.10 Td (fect at that date. ) Tj ET Q q 0 0 0 rg BT 255.57 670.10 Td (At each balance sheet date, recorded monetary balances denominated in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (acurrencyother than the functional currency are adjusted using the exchange rate at the balance sheet date, with gains or losses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (recorded in other income or other expense, unless such monetary balances have been designated as hedges of net investments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (in our foreign entities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.87 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 141.19 634.10 Td (The net gains or losses resulting from foreign currency transactions were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.26 634.10 Td (insignificant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.25 634.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.03 634.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.03 634.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.03 634.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.03 634.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 622.10 Td (. In addition, the unrealized gains or losses on our long-term intercompany receivables and payables which are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (denominated in a non-functional currency and which are not expected to be repaid in the foreseeable future are recorded as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (foreign currency translation adjustments included as a component of ) Tj ET Q q 0 0 0 rg BT 325.75 598.10 Td (AOCI.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (Revenue and Expense Recognition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Guest cruise deposits represent unearned revenues and are initially included in customer deposit liabilities when received. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (Customer deposits are subsequently) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.59 538.10 Td ( recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.45 538.10 Td (as cruise revenues, together with revenues from onboard and other activities, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (and all associated direct costs and expenses of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.66 526.10 Td ( a voyage are recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.54 526.10 Td (as cruise costs and expenses, upon completion of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (voyages with durations of ten nights or less and on a pro rata basis for voyages in excess of ten nights. ) Tj ET Q q 0 0 0 rg BT 461.40 514.10 Td (The impact of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (recognizing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.70 502.10 Td (these shorter duration cruise revenues and costs and expenses on a completed voyage basis versus on a pro rata ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (basis is not significant. Future travel discount vouchers are included as a reduction of cruise passenger ticket revenues when ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (such vouchers are) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.64 478.10 Td ( utilized. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.13 478.10 Td (Guest cancellation fees are) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.57 478.10 Td ( recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.43 478.10 Td (in cruise passenger ticket revenues at the time of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (cancellation. Revenue is) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.46 466.10 Td ( recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.32 466.10 Td (net of expected discounts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.18 466.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Our sale to guests of air and other transportation to and from airports near the home ports of our ships are included in cruise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (passenger ticket revenues, and the related cost of purchasing these services are included in cruise transportation costs. ) Tj ET Q q 0 0 0 rg BT 523.26 430.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (proceeds that we collect from the sales of third-party shore excursions and on behalf of our onboard concessionaires, net of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (amounts remitted to them, are included in onboard and other cruise revenues as concession revenues. ) Tj ET Q q 0 0 0 rg BT 456.26 406.10 Td (All of these amounts are) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.01 406.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.36 394.10 Td (on a completed voyage or pro rata basis as discussed above.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.01 394.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (Cruise passenger ticket revenues include fees, taxes and char) Tj ET Q q 0 0 0 rg BT 293.33 370.10 Td (ges collected by us from our guests. ) Tj ET Q q 0 0 0 rg BT 438.86 370.10 Td (A) Tj ET Q q 0 0 0 rg BT 445.53 370.10 Td ( portion of these fees, taxes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (and char) Tj ET Q q 0 0 0 rg BT 83.96 358.10 Td (ges vary with guest head counts and are directly imposed on a revenue-producing arrangement. ) Tj ET Q q 0 0 0 rg BT 467.26 358.10 Td (This portion of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (fees, taxes and char) Tj ET Q q 0 0 0 rg BT 128.11 346.10 Td (ges is expensed in commissions, transportation and other costs when the corresponding revenues are) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.68 346.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (recognized. ) Tj ET Q q 0 0 0 rg BT 98.68 334.10 Td (These fees, taxes and char) Tj ET Q q 0 0 0 rg BT 203.17 334.10 Td (ges included in passenger ticket revenues and commissions, transportation and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (costs were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.43 322.10 Td ($615 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.82 322.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.60 322.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.60 322.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.60 322.10 Td ($579 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.99 322.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.77 322.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.77 322.10 Td ( and $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.21 322.10 Td (540 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.60 322.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.38 322.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.38 322.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.20 322.10 Td (The remaining portion of fees, taxes and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (char) Tj ET Q q 0 0 0 rg BT 67.03 310.10 Td (ges are also included in cruise passenger ticket revenues and are expensed in other ship operating expenses when the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (corresponding revenues are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.45 298.10 Td (recognized. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (Revenues and expenses from our hotel and transportation operations, which are included in our ) Tj ET Q q 0 0 0 rg BT 433.32 274.10 Td (T) Tj ET Q q 0 0 0 rg BT 438.73 274.10 Td (our and Other segment, are) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.30 274.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.36 262.10 Td (at the time the services are performed or expenses are incurred. Revenues from the long-term leasing of ships, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (which are also included in our ) Tj ET Q q 0 0 0 rg BT 173.12 250.10 Td (T) Tj ET Q q 0 0 0 rg BT 178.53 250.10 Td (our and Other segment, are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.59 250.10 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.96 250.10 Td (ratably over the term of the agreement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.72 250.10 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (Insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 202.10 Td (e maintain insurance to cover a number of risks including illness and injury to crew) Tj ET Q q 0 0 0 rg BT 391.79 202.10 Td (, guest injuries, pollution, other third-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (party claims in connection with our cruise activities, damage to hull and machinery for each of our ships, war risks, workers) Tj ET Q q 0 0 0 rg BT 548.83 190.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (compensation, directors) Tj ET Q q 0 0 0 rg BT 148.12 178.10 Td ( and of) Tj ET Q q 0 0 0 rg BT 175.70 178.10 Td (ficers) Tj ET Q q 0 0 0 rg BT 200.50 178.10 Td ( liability) Tj ET Q q 0 0 0 rg BT 233.46 178.10 Td (, property damage and general liability for shoreside third-party claims. ) Tj ET Q q 0 0 0 rg BT 521.51 178.10 Td (W) Tj ET Q q 0 0 0 rg BT 530.15 178.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (recognize insurance recoverables from third-party insurers up to the amount of recorded losses at the time the recovery is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (probable and upon settlement for amounts in excess of the recorded losses. ) Tj ET Q q 0 0 0 rg BT 351.31 154.10 Td (All of our insurance policies are subject to coverage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (limits, exclusions and deductible levels.) Tj ET Q q 0 0 0 rg BT 211.73 142.10 Td (The liabilities associated with crew illnesses and crew and guest injury claims, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (including all legal costs, are estimated based on the specific merits of the individual claims or actuarially estimated based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (historical claims experience, loss development factors and other assumptions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.47 118.10 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (Selling and ) Tj ET Q q 0 0 0 rg BT 99.09 94.10 Td (Administrative Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (Selling expenses include a broad range of advertising, marketing and promotional expenses. ) Tj ET Q q 0 0 0 rg BT 420.45 70.10 Td (Advertising is char) Tj ET Q q 0 0 0 rg BT 496.37 70.10 Td (ged to expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (as incurred, except for media production costs, which are expensed upon the first airing of the advertisement. Selling expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.71 46.10 Td ($673 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 46.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.88 46.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.88 46.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.88 46.10 Td ($645 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.27 46.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.05 46.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.05 46.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.49 46.10 Td ($630 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.88 46.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.66 46.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.66 46.10 Td (. ) Tj ET Q q 0 0 0 rg BT 361.11 46.10 Td (Administrative expenses represent the costs of ) Tj ET Q endstream endobj 125 0 obj <>] /Rotate 0 /Contents 126 0 R>> endobj 126 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.70 31.60 Td (F-1) Tj ET Q q 0 0 0 rg BT 310.22 31.60 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (our shoreside ship support, reservations and other administrative functions, and include salaries and related benefits, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (professional fees and building occupancy costs, which are typically expensed as incurred.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.49 730.10 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Share-Based Compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 682.10 Td (e recognize ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.94 682.10 Td (compensation expense for all share-based compensation awards using the fair value method. For time-based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (share awards, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.08 670.10 Td (recognize) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.94 670.10 Td ( compensation cost ratably using the straight-line attribution method over the expected vesting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (period or to the retirement eligibility date, if earlier than the vesting period. For performance-based share awards, we estimate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (compensation cost based on the probability of the performance condition being achieved and recognize expense ratably using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (the straight-line attribution method over the expected vesting period. If all or a portion of the performance condition is not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (expected to be met, the appropriate amount of previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.04 622.10 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.40 622.10 Td (compensation expense is reversed and future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (compensation expense is adjusted accordingly) Tj ET Q q 0 0 0 rg BT 234.30 610.10 Td (. For market-based share awards, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.13 610.10 Td (recognize ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.49 610.10 Td (compensation cost ratably using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (the straight-line attribution method over the expected vesting period. If the tar) Tj ET Q q 0 0 0 rg BT 361.39 598.10 Td (get market conditions are not expected to be met, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (compensation expense will still be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.25 586.10 Td (recognized. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.93 586.10 Td (W) Tj ET Q q 0 0 0 rg BT 247.57 586.10 Td (e account for forfeitures as they occur) Tj ET Q q 0 0 0 rg BT 398.61 586.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.11 586.10 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (Earnings Per Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (Basic earnings per share is computed by dividing net income by the weighted-average number of shares outstanding during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (each period. Diluted earnings per share is computed by dividing net income by the weighted-average number of shares and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (common stock equivalents outstanding during each period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.78 514.10 Td ( For earnings per share purposes, Carnival Corporation common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (stock and Carnival plc ordinary shares are considered a single class of shares since they have equivalent rights.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (Accounting Pronouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (The Financial ) Tj ET Q q 0 0 0 rg BT 107.21 454.10 Td (Accounting Standards Board \(the F) Tj ET Q q 0 0 0 rg BT 252.54 454.10 Td (ASB\) issued amended guidance, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 389.45 454.10 Td (Compensation - Retir) Tj ET Q q 0 0 0 rg BT 475.19 454.10 Td (ement Benefits - ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Impr) Tj ET Q q 0 0 0 rg BT 69.07 442.10 Td (oving the Pr) Tj ET Q q 0 0 0 rg BT 118.13 442.10 Td (esentation of Net Periodic Pension Cost and Net Periodic Postr) Tj ET Q q 0 0 0 rg BT 373.01 442.10 Td (etir) Tj ET Q q 0 0 0 rg BT 386.53 442.10 Td (ement Benefit Cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.07 442.10 Td (, which requires the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (bifurcation of service costs and other components of net benefit cost. ) Tj ET Q q 0 0 0 rg BT 328.07 430.10 Td (The presentation of the other components of net benefit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (cost have been recorded in other income. On December 1, 2017, we adopted this guidance using the retrospective transition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (method for the presentation of the service cost component and other components of net benefit cost. ) Tj ET Q q 0 0 0 rg BT 452.20 406.10 Td (The impact of adopting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (this guidance was immaterial to our consolidated financial statements, and as such, prior period information was not revised. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (The F) Tj ET Q q 0 0 0 rg BT 72.87 370.10 Td (ASB issued guidance, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 163.41 370.10 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 206.07 370.10 Td (om Contracts with Customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.25 370.10 Td (, which requires an entity to recognize the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ) Tj ET Q q 0 0 0 rg BT 456.65 358.10 Td (When ef) Tj ET Q q 0 0 0 rg BT 490.61 358.10 Td (fective, this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (standard will replace most existing revenue recognition guidance in U.S. GAAP) Tj ET Q q 0 0 0 rg BT 369.37 346.10 Td (. ) Tj ET Q q 0 0 0 rg BT 374.19 346.10 Td (The standard also requires more detailed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (disclosures and provides additional guidance for transactions that were not comprehensively addressed in U.S. GAAP) Tj ET Q q 0 0 0 rg BT 520.44 334.10 Td (. ) Tj ET Q q 0 0 0 rg BT 525.26 334.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (guidance is required to be adopted by us in the first quarter of 2019. ) Tj ET Q q 0 0 0 rg BT 323.91 322.10 Td (W) Tj ET Q q 0 0 0 rg BT 332.55 322.10 Td (e have elected the modified retrospective adoption ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (method which requires entities to apply the new revenue standard only to the current period consolidated financial statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (and record a cumulative-ef) Tj ET Q q 0 0 0 rg BT 157.26 298.10 Td (fect adjustment to the December 1, 2018 opening balance of retained earnings, if any) Tj ET Q q 0 0 0 rg BT 496.76 298.10 Td (. ) Tj ET Q q 0 0 0 rg BT 501.58 298.10 Td (W) Tj ET Q q 0 0 0 rg BT 510.22 298.10 Td (e have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (completed our preliminary evaluation of changes to our revenues using the five step model supported by the new revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (standard. ) Tj ET Q q 0 0 0 rg BT 88.70 274.10 Td (The impact of the adoption of ) Tj ET Q q 0 0 0 rg BT 209.78 274.10 Td (ASC 606 on our consolidated financial statements relates to the gross presentation of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (prepaid travel agent commissions, shore excursions and other onboard revenues and costs which were historically presented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (net. ) Tj ET Q q 0 0 0 rg BT 69.54 250.10 Td (The adoption of this guidance will not have a material impact to the timing of our recognition of revenues and will require ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (additional disclosures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.43 238.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (The F) Tj ET Q q 0 0 0 rg BT 72.87 214.10 Td (ASB issued amended guidance, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 202.01 214.10 Td (Business Combinations - Clarifying the Definition of a Business) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.12 214.10 Td (,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 460.62 214.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.12 214.10 Td (which assists entities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (with evaluating whether transactions should be accounted for as acquisitions \(or disposals\) of assets or businesses. ) Tj ET Q q 0 0 0 rg BT 510.00 202.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (guidance is required to be adopted by us in the first quarter of 2019 on a prospective basis. Early adoption is permitted, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (including adoption in an interim period. ) Tj ET Q q 0 0 0 rg BT 211.73 178.10 Td (The adoption of this guidance is not expected to have a material impact on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (The F) Tj ET Q q 0 0 0 rg BT 72.87 142.10 Td (ASB issued amended guidance, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 202.01 142.10 Td (Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.33 142.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (which clarifies how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ) Tj ET Q q 0 0 0 rg BT 529.64 130.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (amendments are aimed at reducing the existing diversity in practice. ) Tj ET Q q 0 0 0 rg BT 325.00 118.10 Td (This guidance is required to be adopted by us in the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (quarter of 2019 and must be applied using a retrospective approach for each period presented. Early adoption is permitted, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (including adoption in an interim period. ) Tj ET Q q 0 0 0 rg BT 211.73 94.10 Td (The adoption of this guidance is not expected to have a material impact on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (The F) Tj ET Q q 0 0 0 rg BT 72.87 58.10 Td (ASB issued amended guidance, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 202.01 58.10 Td (Statement of Cash Flows - Restricted Cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.66 58.10 Td (, which requires restricted cash to be presented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (with cash and cash equivalents in the statement of cash flows. ) Tj ET Q q 0 0 0 rg BT 299.75 46.10 Td (This guidance is required to be adopted by us in the first quarter ) Tj ET Q endstream endobj 127 0 obj <>] /Rotate 0 /Contents 128 0 R>> endobj 128 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (of 2019 and must be applied using a retrospective approach to each period presented. Early adoption is permitted, including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (adoption in an interim period. ) Tj ET Q q 0 0 0 rg BT 171.46 730.10 Td (The adoption of this guidance is not expected to have a material impact on our consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 692.90 Td (The F) Tj ET Q q 0 0 0 rg BT 72.87 692.90 Td (ASB issued amended guidance, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 202.01 692.90 Td (Service Concession ) Tj ET Q q 0 0 0 rg BT 282.36 692.90 Td (Arrangements,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.52 692.90 Td ( which clarifies that the grantor in a service ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 680.90 Td (arrangement should be considered the customer of the operating entity in all cases. ) Tj ET Q q 0 0 0 rg BT 383.04 680.90 Td (This guidance is required to be adopted by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 668.90 Td (us in the first quarter of 2019 and can be applied using either a retrospective or a modified retrospective approach. ) Tj ET Q q 0 0 0 rg BT 508.82 668.90 Td (The adoption ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 656.90 Td (of this guidance is not expected to have a material impact on our consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 632.90 Td (The F) Tj ET Q q 0 0 0 rg BT 72.87 632.90 Td (ASB issued guidance, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 163.41 632.90 Td (Leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.63 632.90 Td (, which requires an entity to recognize both assets and liabilities arising from financing and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 620.90 Td (operating leases, along with additional qualitative and quantitative disclosures. ) Tj ET Q q 0 0 0 rg BT 367.24 620.90 Td (This guidance is required to be adopted by us in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 608.90 Td (the first quarter of 2020 and must be applied using a modified retrospective approach which allows entities to either apply the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 596.90 Td (new lease standard to the beginning of the earliest period presented or only to the current period consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 584.90 Td (statement. Early adoption is permitted. ) Tj ET Q q 0 0 0 rg BT 207.28 584.90 Td (The initial adoption of this guidance is expected to increase both our total assets and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 572.90 Td (total liabilities, reflecting the lease rights and obligations arising from our lease arrangements, and will require additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 560.90 Td (disclosures. ) Tj ET Q q 0 0 0 rg BT 99.26 560.90 Td (W) Tj ET Q q 0 0 0 rg BT 107.90 560.90 Td (e are evaluating certain contractual arrangements to determine if they contain an implicit right to use an asset that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 548.90 Td (would qualify as a leasing arrangement under the new guidance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 524.90 Td (The F) Tj ET Q q 0 0 0 rg BT 72.87 524.90 Td (ASB issued guidance, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 163.41 524.90 Td (Derivatives and Hedging) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.95 524.90 Td (, which tar) Tj ET Q q 0 0 0 rg BT 306.25 524.90 Td (geted improvements to accounting for hedging activities such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 512.90 Td (as hedging strategies, ef) Tj ET Q q 0 0 0 rg BT 145.90 512.90 Td (fectiveness assessments, and recognition of derivative gains or losses. ) Tj ET Q q 0 0 0 rg BT 427.59 512.90 Td (This guidance is required to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 500.90 Td (adopted by us in the first quarter of 2020 and must be applied using a modified retrospective approach. Early adoption is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 488.90 Td (permitted. ) Tj ET Q q 0 0 0 rg BT 93.14 488.90 Td (W) Tj ET Q q 0 0 0 rg BT 101.78 488.90 Td (e are currently evaluating the impact this guidance will have on our consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.14 488.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 464.90 Td (The F) Tj ET Q q 0 0 0 rg BT 72.87 464.90 Td (ASB issued guidance, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 163.41 464.90 Td (Intangibles - Goodwill and Other - Internal-Use Softwar) Tj ET Q q 0 0 0 rg BT 389.97 464.90 Td (e, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.41 464.90 Td (which requires a customer in a cloud ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 452.90 Td (computing arrangement that is a service contract to follow the internal-use software guidance to determine which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 440.90 Td (implementation costs to capitalize as assets or expense as incurred. ) Tj ET Q q 0 0 0 rg BT 320.01 440.90 Td (The expense related to deferred implementation costs is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 428.90 Td (required to be presented in the same income statement line item as the related hosting fees. ) Tj ET Q q 0 0 0 rg BT 415.16 428.90 Td (Additionally) Tj ET Q q 0 0 0 rg BT 465.06 428.90 Td (, the payments for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 416.90 Td (deferred implementation costs are required to be presented in the same line item in the statement of cash flows as payments for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 404.90 Td (the related hosting fees. ) Tj ET Q q 0 0 0 rg BT 147.29 404.90 Td (This guidance is required to be adopted by us in the first quarter of 2021 and must be applied using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 392.90 Td (either a prospective or a retrospective approach. Early adoption is permitted. ) Tj ET Q q 0 0 0 rg BT 358.31 392.90 Td (W) Tj ET Q q 0 0 0 rg BT 366.95 392.90 Td (e are currently evaluating the impact this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 380.90 Td (guidance will have on our consolidated financial statement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.70 380.90 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 356.90 Td (NOTE 3 Pr) Tj ET Q q 0 0 0 rg BT 106.21 356.90 Td (operty and Equipment) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 320.40 372.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 320.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 320.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 320.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 290.40 372.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 290.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 290.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 290.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 260.40 372.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 260.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 260.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 260.40 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 333.4 m 482.5 333.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 333.4 m 486.5 333.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 333.4 m 546.5 333.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 320.4 m 482.5 320.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 320.4 m 546.5 320.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 275.4 m 482.5 275.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 275.4 m 546.5 275.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 245.39999999999998 m 482.5 245.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 245.39999999999998 m 546.5 245.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 245.39999999999998 m 482.5 245.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 231.39999999999998 m 482.5 231.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 229.39999999999998 m 482.5 229.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 245.39999999999998 m 546.5 245.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 231.39999999999998 m 546.5 231.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 229.39999999999998 m 546.5 229.39999999999998 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 337.65 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.35 337.13 Td (November) Tj ET Q q 0 0 0 rg BT 498.69 337.13 Td ( 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 323.96 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.00 324.13 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 323.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.00 324.13 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 310.97 Td (Ships and ship improvements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 310.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 310.07 Td (46,957) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 310.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.00 310.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.15 310.07 Td (46,744) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 295.97 Td (Ships under construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 295.07 Td (2,004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 295.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.65 295.07 Td (790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 280.97 Td (Other property and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 280.07 Td (3,661) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 280.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.15 280.07 Td (3,331) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 265.97 Td (T) Tj ET Q q 0 0 0 rg BT 58.76 265.97 Td (otal property and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 265.07 Td (52,622) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 265.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.15 265.07 Td (50,865) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 250.97 Td (Less accumulated depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 250.12 Td (\(17,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 250.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.80 250.12 Td (\(16,435) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 250.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 235.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 235.07 Td (35,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.00 235.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.15 235.07 Td (34,430) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 206.90 Td (Capitalized interest amounted to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.18 206.90 Td ($36 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.57 206.90 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.35 206.90 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.35 206.90 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.35 206.90 Td ($28 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.74 206.90 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.52 206.90 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.52 206.90 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.96 206.90 Td ($26 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.35 206.90 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.13 206.90 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.13 206.90 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.63 206.90 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 182.90 Td (Sales of Ships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 158.90 Td (In March 2018, we entered into an agreement to sell an NAA) Tj ET Q q 0 0 0 rg BT 294.37 158.90 Td ( segment 1,260-passenger capacity ship. ) Tj ET Q q 0 0 0 rg BT 457.75 158.90 Td (The ship will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 146.90 Td (transferred to the buyer in ) Tj ET Q q 0 0 0 rg BT 155.80 146.90 Td (April 2019. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 122.90 Td (In March 2018, we sold and transferred an EA) Tj ET Q q 0 0 0 rg BT 235.22 122.90 Td ( segment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.54 122.90 Td (700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.54 122.90 Td (-passenger capacity ship. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.28 122.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 98.90 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 98.90 Td (April 2018, we sold and transferred an EA) Tj ET Q q 0 0 0 rg BT 229.68 98.90 Td ( segment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 98.90 Td (1,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.50 98.90 Td (-passenger capacity ship.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.74 98.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 74.90 Td (In June 2018, we sold a NAA) Tj ET Q q 0 0 0 rg BT 168.04 74.90 Td ( segment 840-passenger capacity ship. ) Tj ET Q q 0 0 0 rg BT 323.93 74.90 Td (The ship will be transferred to the buyer in July 2019.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 50.90 Td (In June 2018, we sold an EA) Tj ET Q q 0 0 0 rg BT 164.71 50.90 Td ( segment 1,880-passenger capacity ship. ) Tj ET Q q 0 0 0 rg BT 328.09 50.90 Td (The ship will be transferred to the buyer in ) Tj ET Q q 0 0 0 rg BT 501.10 50.90 Td (August 2019.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.99 50.90 Td ( ) Tj ET Q endstream endobj 129 0 obj <>] /Rotate 0 /Contents 130 0 R>> endobj 130 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 730.10 Td (August 2018, we entered into an agreement to sell an NAA) Tj ET Q q 0 0 0 rg BT 296.61 730.10 Td ( segment 1,680-passenger capacity ship. ) Tj ET Q q 0 0 0 rg BT 459.99 730.10 Td (The ship will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (transferred to the buyer in March 2019.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.45 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (In November 2018, we entered into an agreement to sell an EA) Tj ET Q q 0 0 0 rg BT 302.14 694.10 Td ( segment 2,210-passenger capacity ship. ) Tj ET Q q 0 0 0 rg BT 465.52 694.10 Td (The ship will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (transferred to the buyer by the end of 2019.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (In November 2018, we entered into an agreement to sell an EA) Tj ET Q q 0 0 0 rg BT 302.14 658.10 Td ( segment 2,1) Tj ET Q q 0 0 0 rg BT 352.59 658.10 Td (10-passenger capacity ship. ) Tj ET Q q 0 0 0 rg BT 465.15 658.10 Td (The ship will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (transferred to the buyer at a date still to be determined.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (NOTE 4 Other) Tj ET Q q 0 0 0 rg BT 121.21 622.10 Td ( ) Tj ET Q q 0 0 0 rg BT 123.15 622.10 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 598.10 Td (e have a minority) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.33 598.10 Td ( interest in Grand Bahama Shipyard Ltd. \(Grand Bahama\), a ship repair and maintenance facility) Tj ET Q q 0 0 0 rg BT 523.65 598.10 Td (. Grand ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Bahama provided services to us of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.52 586.10 Td ($89 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.91 586.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.69 586.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.69 586.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.69 586.10 Td ($97 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.08 586.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.86 586.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.86 586.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.30 586.10 Td ($58 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.69 586.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.47 586.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.47 586.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (In July 2018, we acquired a minority interest in the ) Tj ET Q q 0 0 0 rg BT 256.71 562.10 Td (White Pass &) Tj ET Q q 0 0 0 rg BT 313.84 562.10 Td (Y) Tj ET Q q 0 0 0 rg BT 319.95 562.10 Td (ukonRoute \(White Pass\) division of ) Tj ET Q q 0 0 0 rg BT 476.97 562.10 Td (TWC Enterprises ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Ltd. that includes ) Tj ET Q q 0 0 0 rg BT 122.03 550.10 Td (White Pass) Tj ET Q q 0 0 0 rg BT 169.33 550.10 Td ( port, railroad and retail operations inSkagway) Tj ET Q q 0 0 0 rg BT 356.96 550.10 Td (, ) Tj ET Q q 0 0 0 rg BT 361.41 550.10 Td (Alaska. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (In October 2018, we acquired a minority interest in CSSC Carnival Cruise Shipping Limited \(CSSC-Carnival\), a China-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (based cruise company which will operate its own fleet designed to serve the Chinese market. In November 2018, we entered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (into an agreement to sell two EA) Tj ET Q q 0 0 0 rg BT 181.08 502.10 Td ( segment ships to CSSC-Carnival.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.47 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td ( ) Tj ET Q endstream endobj 131 0 obj <>] /Rotate 0 /Contents 132 0 R>> endobj 132 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 742.25 Td (NOTE 5 Unsecur) Tj ET Q q 0 0 0 rg BT 130.71 742.25 Td (ed Debt ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 313.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 52.25 697.75 258.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.25 697.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.25 697.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.25 697.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.25 697.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.25 697.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.25 697.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.25 697.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.25 668.75 258.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.25 668.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.25 668.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.25 668.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.25 668.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.25 668.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.25 668.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.25 668.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.25 638.75 258.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.25 638.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.25 638.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.25 638.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.25 638.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.25 638.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.25 638.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.25 638.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.25 608.75 258.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.25 608.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.25 608.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.25 608.75 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.25 608.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.25 608.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.25 608.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.25 608.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.25 579.75 258.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.25 579.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.25 579.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.25 579.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.25 579.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.25 579.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.25 579.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.25 579.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.25 549.75 258.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.25 549.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.25 549.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.25 549.75 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.25 549.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.25 549.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.25 549.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.25 549.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.25 521.75 258.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.25 521.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.25 521.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.25 521.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.25 521.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.25 521.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.25 521.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.25 521.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.25 492.75 258.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.25 492.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.25 492.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.25 492.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.25 492.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.25 492.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.25 492.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.25 492.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.25 462.75 258.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.25 462.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.25 462.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.25 462.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.25 462.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.25 462.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.25 462.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.25 462.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.25 432.75 258.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.25 432.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.25 432.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.25 432.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.25 432.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.25 432.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.25 432.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.25 432.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.25 402.75 258.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.25 402.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.25 402.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.25 402.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.25 402.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.25 402.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.25 402.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.25 402.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.25 372.75 258.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.25 372.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.25 372.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.25 372.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.25 372.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.25 372.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.25 372.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.25 372.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.25 342.75 258.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.25 342.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.25 342.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.25 342.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.25 342.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.25 342.75 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.25 342.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.25 342.75 53.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.25 718.75 m 376.25 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.25 718.75 m 380.25 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.25 718.75 m 437.25 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.25 718.75 m 494.25 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.25 718.75 m 498.25 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.25 718.75 m 551.25 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.25 697.75 m 376.25 697.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.25 697.75 m 437.25 697.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.25 718.75 m 494.25 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.25 697.75 m 494.25 697.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.25 718.75 m 551.25 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.25 697.75 m 551.25 697.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.25 402.75 m 494.25 402.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.25 402.75 m 551.25 402.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.25 372.75 m 494.25 372.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.25 372.75 m 551.25 372.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.25 357.75 m 494.25 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.25 357.75 m 551.25 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.25 357.75 m 494.25 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.25 357.75 m 551.25 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.25 327.75 m 494.25 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.25 327.75 m 551.25 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.25 327.75 m 494.25 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.25 313.75 m 494.25 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.25 311.75 m 494.25 311.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.25 327.75 m 551.25 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.25 313.75 m 551.25 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.25 311.75 m 551.25 311.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.75 723.00 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.35 722.48 Td (November) Tj ET Q q 0 0 0 rg BT 376.69 722.48 Td ( 30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.10 722.48 Td (November) Tj ET Q q 0 0 0 rg BT 510.44 722.48 Td ( 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 54.75 702.46 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 312.95 702.43 Td (Inter) Tj ET Q q 0 0 0 rg BT 334.52 702.43 Td (est Rates) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.75 709.48 Td (Maturities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.40 699.53 Td (Thr) Tj ET Q q 0 0 0 rg BT 405.98 699.53 Td (ough) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.25 702.43 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.25 702.43 Td (2017) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 54.75 695.25 71.57 -8.93 re f /GS0 gs 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 54.75 686.91259765625 m 126.322265625 686.91259765625 l s q 0 0 0 rg BT 54.75 688.48 Td (Long-T) Tj ET Q q 0 0 0 rg BT 86.06 688.48 Td (erm Debt) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.75 673.48 Td (Export Cr) Tj ET Q q 0 0 0 rg BT 98.82 673.48 Td (edit Facilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 659.32 Td (Fixed rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 658.42 Td (2.4% to 5.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.25 658.42 Td (2030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.75 658.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.90 658.42 Td (1,819) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.75 658.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.40 658.42 Td (860) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 644.32 Td (EUR fixed rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 643.42 Td (3.8% to 4.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.25 643.42 Td (2025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.40 643.42 Td (189) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.40 643.42 Td (229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 629.32 Td (Floating rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 628.42 Td (3.0% to 3.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.25 628.42 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.40 628.42 Td (240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.40 628.42 Td (307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 614.32 Td (EUR floating rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 613.42 Td (0.0% to 0.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.25 613.42 Td (2027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.90 613.42 Td (1,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.90 613.42 Td (1,596) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.75 599.48 Td (Bank Loans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 585.32 Td (EUR fixed rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 584.42 Td (0.5% to 3.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.25 584.42 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.40 584.42 Td (257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.40 584.42 Td (653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 570.32 Td (Floating rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 569.42 Td (3.2% to 3.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.25 569.42 Td (2025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.40 569.42 Td (495) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.40 569.42 Td (500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 555.32 Td (EUR floating rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 554.42 Td (0.3% to 0.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.25 554.42 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.90 554.42 Td (1,193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.40 554.42 Td (355) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 540.32 Td (GBP) Tj ET Q q 0 0 0 rg BT 74.02 540.32 Td ( floating rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 540.32 Td (1.3% to 1.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.25 540.32 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.40 540.32 Td (848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.40 540.32 Td (415) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.75 526.48 Td (Private Placement Notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 512.32 Td (EUR fixed rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.75 511.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.25 511.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.40 511.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.40 511.42 Td (57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.75 497.48 Td (Publicly-T) Tj ET Q q 0 0 0 rg BT 99.01 497.48 Td (raded Notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 483.32 Td (Fixed rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 482.42 Td (4.0% to 7.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.25 482.42 Td (2028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.90 482.42 Td (1,217) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.90 482.42 Td (1,717) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 468.32 Td (EUR fixed rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.50 467.42 Td (1.1% to 1.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.25 467.42 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.90 467.42 Td (1,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.90 467.42 Td (2,072) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 54.75 451.91259765625 m 157.25 451.91259765625 l s q 0 0 0 rg BT 54.75 453.48 Td (Short-T) Tj ET Q q 0 0 0 rg BT 87.72 453.48 Td (erm Borr) Tj ET Q q 0 0 0 rg BT 127.80 453.48 Td (owings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 438.32 Td (Floating rate commercial paper) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.75 437.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.25 437.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.40 437.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.40 437.42 Td (420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 423.32 Td (EUR floating rate commercial paper) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.00 422.42 Td (\(0.2\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.25 422.42 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.40 422.42 Td (621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.40 422.42 Td (65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 408.32 Td (EUR fixed rate bank loans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.00 407.42 Td (\(0.2\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.25 407.42 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.40 407.42 Td (227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.40 407.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.75 393.48 Td (T) Tj ET Q q 0 0 0 rg BT 78.96 393.48 Td (otal Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.90 392.42 Td (10,394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.90 392.42 Td (9,246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 378.32 Td (Less: Unamortized debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.05 377.47 Td (\(71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.40 377.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.05 377.47 Td (\(51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.40 377.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.75 363.48 Td (T) Tj ET Q q 0 0 0 rg BT 78.96 363.48 Td (otal Debt, net of unamortized debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.90 362.42 Td (10,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.90 362.42 Td (9,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 348.32 Td (Less: Short-term borrowings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.05 347.47 Td (\(848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.40 347.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.05 347.47 Td (\(485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.40 347.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.75 333.32 Td (Less: Current portion of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.55 332.47 Td (\(1,578) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.40 332.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.55 332.47 Td (\(1,717) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.40 332.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.75 318.48 Td (Long-T) Tj ET Q q 0 0 0 rg BT 104.06 318.48 Td (erm Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.75 317.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.90 317.42 Td (7,897) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.75 317.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.90 317.42 Td (6,993) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 289.25 Td (The debt table does not include the impact of our foreign currency and interest rate swaps. ) Tj ET Q q 0 0 0 rg BT 412.80 289.25 Td (The interest rates on some of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 277.25 Td (debt, and in the case of our main revolving credit facility) Tj ET Q q 0 0 0 rg BT 276.27 277.25 Td (, fluctuate based on the applicable rating of senior unsecured long-term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 265.25 Td (securities of Carnival Corporation or Carnival plc. For the twelve months ended November 30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.63 265.25 Td ( and 2017, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.07 265.25 Td (we had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 253.25 Td (borrowings of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.88 253.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.38 253.25 Td ($2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.77 253.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.21 253.25 Td ($1) Tj ET Q q 0 0 0 rg BT 178.84 253.25 Td (1) Tj ET Q q 0 0 0 rg BT 183.47 253.25 Td (1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.86 253.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.36 253.25 Td (and repayments of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.22 253.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.72 253.25 Td ($2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.12 253.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.55 253.25 Td ($364 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.95 253.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.45 253.25 Td (of commercial paper with original ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 241.25 Td (maturities greater than three months.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.39 241.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 217.25 Td (Interest-bearing debt is recorded at initial fair value, which normally reflects the proceeds received by us, net of debt issuance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 205.25 Td (costs, and is subsequently stated at amortized cost. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.46 205.25 Td (Debt issuance costs are generally amortized to interest expense using the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 193.25 Td (straight-line method, which approximates the ef) Tj ET Q q 0 0 0 rg BT 240.93 193.25 Td (fective interest method, over the term of the debt. In addition, all debt issue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 181.25 Td (discounts and premiums are amortized to interest expense using the ef) Tj ET Q q 0 0 0 rg BT 329.79 181.25 Td (fective interest rate method over the term of the notes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.38 181.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 157.25 Td (Substantially all of our fixed rate debt can be called or prepaid by incurring additional costs. In addition, substantially all of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 145.25 Td (debt agreements, including our main revolving credit facility) Tj ET Q q 0 0 0 rg BT 292.11 145.25 Td (, contain one or more financial covenants that require us to: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.58 145.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 121.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.50 121.25 Td (Maintain minimum debt service coverage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.11 121.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 109.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.50 109.25 Td (Maintain minimum shareholders) Tj ET Q q 0 0 0 rg BT 254.62 109.25 Td ( equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.62 109.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 97.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.50 97.25 Td (Limit our debt to capital and debt to equity ratios ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.34 97.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 85.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.50 85.25 Td (Limit the amounts of our secured assets as well as secured and other indebtedness ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.91 85.25 Td ( ) Tj ET Q endstream endobj 133 0 obj <>] /Rotate 0 /Contents 134 0 R>> endobj 134 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 742.10 Td (Generally) Tj ET Q q 0 0 0 rg BT 88.27 742.10 Td (, if an event of default under any debt agreement occurs, then pursuant to cross default acceleration clauses, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 730.10 Td (substantially all of our outstanding debt and derivative contract payables could become due, and all debt and derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 718.10 Td (contracts could be terminated. ) Tj ET Q q 0 0 0 rg BT 171.96 718.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.46 718.10 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.16 718.10 Td (, we were in compliance with all of our debt covenants.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.75 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.10 Td (The scheduled annual maturities of our debt were as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 657.60 390.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 657.60 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 657.60 106.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 627.60 390.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 627.60 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 627.60 106.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 597.60 390.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 597.60 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 597.60 106.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 567.60 390.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 567.60 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 567.60 106.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 657.6 m 562 657.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 657.6 m 562 657.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 567.6 m 562 567.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 567.6 m 562 567.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 553.6 m 562 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 551.6 m 562 551.6 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 674.16 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 661.33 Td (Fiscal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.60 661.33 Td (November) Tj ET Q q 0 0 0 rg BT 511.85 661.33 Td ( 30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 647.27 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.50 647.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 647.27 Td (2,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 632.27 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 632.27 Td (2,143) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 617.27 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 617.27 Td (1,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 602.27 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 602.27 Td (1,081) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 587.27 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 587.27 Td (1,776) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 572.27 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 572.27 Td (1,868) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.50 557.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 557.27 Td (10,394) Tj ET Q BT /F1 10.00 Tf ET BT /F5 10.00 Tf ET q 0 0 0 rg BT 49.50 529.10 Td (Committed Ship Financings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 505.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 505.10 Td (e have unsecured euro and U.S. dollar long-term export credit committed ship financings. ) Tj ET Q q 0 0 0 rg BT 418.96 505.10 Td (These commitments, if drawn at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 493.10 Td (the time of ship delivery) Tj ET Q q 0 0 0 rg BT 146.60 493.10 Td (, are generally repayable semi-annually over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.79 493.10 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.79 493.10 Td ( years. ) Tj ET Q q 0 0 0 rg BT 365.21 493.10 Td (W) Tj ET Q q 0 0 0 rg BT 373.85 493.10 Td (e have the option to cancel each one at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 481.10 Td (specified dates prior to the underlying ship) Tj ET Q q 0 0 0 rg BT 223.35 481.10 Td (s delivery date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.16 481.10 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 49.50 457.10 Td (Revolving Credit Facilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 433.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 433.10 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.71 433.10 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.21 433.10 Td ( we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.87 433.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.81 433.10 Td ($2.9 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.92 433.10 Td ( of total revolving credit facilities comprised of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.46 433.10 Td ($2.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.58 433.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.41 433.10 Td ($1.9 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.52 433.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.52 433.10 Td (500 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 421.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 421.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.83 421.10 Td (169 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.22 421.10 Td (\) multi-currency revolving credit facility that expires in 2021 \(the Facility\) and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.71 421.10 Td ($300 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.10 421.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 409.10 Td (revolving credit facility that expires in 2020. ) Tj ET Q q 0 0 0 rg BT 230.01 409.10 Td (A) Tj ET Q q 0 0 0 rg BT 236.68 409.10 Td ( total of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.28 409.10 Td ($2.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.39 409.10 Td ( of this capacity was available for drawing, which is net of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 397.10 Td (outstanding commercial paper) Tj ET Q q 0 0 0 rg BT 170.02 397.10 Td (. ) Tj ET Q q 0 0 0 rg BT 174.84 397.10 Td (The Facility currently bears interest at LIBOR/EURIBOR plus a mar) Tj ET Q q 0 0 0 rg BT 450.42 397.10 Td (gin of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.53 397.10 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.53 397.10 Td ( basis points ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 385.10 Td (\(bps\). ) Tj ET Q q 0 0 0 rg BT 83.75 385.10 Td (The mar) Tj ET Q q 0 0 0 rg BT 117.16 385.10 Td (gin varies based on changes to Carnival Corporation) Tj ET Q q 0 0 0 rg BT 329.61 385.10 Td (s and Carnival plc) Tj ET Q q 0 0 0 rg BT 404.87 385.10 Td (s long-term senior unsecured credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 373.10 Td (ratings.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.22 373.10 Td ( ) Tj ET Q q 0 0 0 rg BT 81.54 373.10 Td (W) Tj ET Q q 0 0 0 rg BT 90.17 373.10 Td (e are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.82 373.10 Td (required to pay a commitment fee on any undrawn portion. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.36 373.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 349.10 Td (NOTE 6 Commitments) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 312.60 136.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 186.50 312.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 312.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 312.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 312.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 312.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 312.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 312.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 312.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 312.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 312.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 312.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 312.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 312.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 282.60 136.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 186.50 282.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 282.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 282.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 282.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 282.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 282.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 282.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 282.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 282.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 282.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 282.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 282.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 282.60 50.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 325.6 m 236.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 325.6 m 240.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 325.6 m 290.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 325.6 m 294.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 325.6 m 344.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 325.6 m 348.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 325.6 m 398.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 325.6 m 402.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 325.6 m 452.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 325.6 m 236.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 312.6 m 236.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 325.6 m 290.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 312.6 m 290.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 312.6 m 344.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 312.6 m 398.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 312.6 m 452.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 312.6 m 508.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 312.6 m 562.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 312.6 m 236.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 312.6 m 290.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 312.6 m 344.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 312.6 m 398.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 312.6 m 452.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 312.6 m 508.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 312.6 m 562.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 267.6 m 236.5 267.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 267.6 m 290.5 267.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 267.6 m 344.5 267.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 267.6 m 398.5 267.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 267.6 m 452.5 267.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 267.6 m 508.5 267.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 267.6 m 562.5 267.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 253.60000000000002 m 236.5 253.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186.5 251.60000000000002 m 236.5 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 253.60000000000002 m 290.5 253.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 251.60000000000002 m 290.5 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 253.60000000000002 m 344.5 253.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 251.60000000000002 m 344.5 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 253.60000000000002 m 398.5 253.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 251.60000000000002 m 398.5 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 253.60000000000002 m 452.5 253.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 251.60000000000002 m 452.5 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 253.60000000000002 m 508.5 253.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 251.60000000000002 m 508.5 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 253.60000000000002 m 562.5 253.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 251.60000000000002 m 562.5 251.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 329.85 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.50 329.33 Td (Fiscal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.00 329.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.00 329.85 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 316.16 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.00 316.33 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.00 316.33 Td (2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.00 316.33 Td (2021) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.00 316.33 Td (2022) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.00 316.33 Td (2023) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.10 316.33 Td (Ther) Tj ET Q q 0 0 0 rg BT 480.12 316.33 Td (eafter) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.05 316.33 Td (T) Tj ET Q q 0 0 0 rg BT 531.80 316.33 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 303.17 Td (New ship growth capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.00 302.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.15 302.27 Td (4,935) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.00 302.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.15 302.27 Td (3,849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.00 302.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 302.27 Td (3,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 302.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 302.27 Td (3,1) Tj ET Q q 0 0 0 rg BT 384.65 302.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 302.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.15 302.27 Td (2,1) Tj ET Q q 0 0 0 rg BT 438.65 302.27 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.00 302.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 302.27 Td (1,132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 302.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 302.27 Td (19,029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 288.17 Td (Operating leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.65 287.27 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.65 287.27 Td (48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.65 287.27 Td (46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 287.27 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 287.27 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 287.27 Td (180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 287.27 Td (415) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 273.17 Td (Port facilities and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.65 272.27 Td (31) Tj ET Q q 0 0 0 rg BT 227.65 272.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.65 272.27 Td (292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 272.27 Td (249) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.65 272.27 Td (172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.65 272.27 Td (132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 272.27 Td (1,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 272.27 Td (2,253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.00 257.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.15 257.27 Td (5,316) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.00 257.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.15 257.27 Td (4,189) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.00 257.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 257.27 Td (4,182) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 257.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 257.27 Td (3,325) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 257.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.15 257.27 Td (2,277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.00 257.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 257.27 Td (2,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 257.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 257.27 Td (21,697) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 229.10 Td (NOTE 7 Contingencies) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 205.10 Td (Litigation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.56 205.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.10 Td (In the normal course of our business, various claims and lawsuits have been filed or are pending against us. Most of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.10 Td (claims and lawsuits, or any settlement of claims and lawsuits, are covered by insurance and the maximum amount of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.10 Td (liability) Tj ET Q q 0 0 0 rg BT 80.46 157.10 Td (, net of any insurance recoverables, is typically limited to our self-insurance retention levels. ) Tj ET Q q 0 0 0 rg BT 452.65 157.10 Td (W) Tj ET Q q 0 0 0 rg BT 461.29 157.10 Td (e believe the ultimate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.10 Td (outcome of these claims, lawsuits, and settlements, as applicable, each and in the aggregate, will not have a material impact on) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.77 145.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 133.10 Td (our consolidated financial statements. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 109.10 Td (Contingent Obligations Indemnifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.10 Td (Some of the debt contracts we enter into include indemnification provisions obligating us to make payments to the counterparty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.10 Td (if certain events occur) Tj ET Q q 0 0 0 rg BT 138.01 73.10 Td (. ) Tj ET Q q 0 0 0 rg BT 142.83 73.10 Td (These contingencies generally relate to changes in taxes or changes in laws which increase our lenders) Tj ET Q q 0 0 0 rg BT 555.54 73.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.10 Td (costs. ) Tj ET Q q 0 0 0 rg BT 74.82 61.10 Td (There are no stated or notional amounts included in the indemnification clauses, and we are not able to estimate the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 49.10 Td (maximum potential amount of future payments, if any) Tj ET Q q 0 0 0 rg BT 265.97 49.10 Td (, under these indemnification clauses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.47 49.10 Td ( ) Tj ET Q endstream endobj 135 0 obj <>] /Rotate 0 /Contents 136 0 R>> endobj 136 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (NOTE 8 ) Tj ET Q q 0 0 0 rg BT 95.66 730.10 Td (T) Tj ET Q q 0 0 0 rg BT 101.41 730.10 Td (axation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 706.10 Td ( summary of our principal taxes and exemptions in the jurisdictions where our significant operations are located is as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.60 706.10 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (U.S. Income T) Tj ET Q q 0 0 0 rg BT 109.08 682.10 Td (ax) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 119.08 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 658.10 Td (e are primarily foreign corporations engaged in the business of operating cruise ships in international transportation. ) Tj ET Q q 0 0 0 rg BT 525.27 658.10 Td (W) Tj ET Q q 0 0 0 rg BT 533.91 658.10 Td (e also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (own and operate, among other businesses, the U.S. hotel and transportation business of Holland ) Tj ET Q q 0 0 0 rg BT 434.93 646.10 Td (America Princess ) Tj ET Q q 0 0 0 rg BT 507.13 646.10 Td (Alaska ) Tj ET Q q 0 0 0 rg BT 537.22 646.10 Td (T) Tj ET Q q 0 0 0 rg BT 542.63 646.10 Td (ours ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (through U.S. corporations.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (Our North ) Tj ET Q q 0 0 0 rg BT 93.33 610.10 Td (American cruise ship businesses and certain ship-owning subsidiaries are engaged in a trade or business within the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (U.S.Depending on its itinerary) Tj ET Q q 0 0 0 rg BT 174.33 598.10 Td (, any particular ship may generate income from sources within the U.S. ) Tj ET Q q 0 0 0 rg BT 461.57 598.10 Td (W) Tj ET Q q 0 0 0 rg BT 470.21 598.10 Td (e believe that our U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (source income and the income of our ship-owning subsidiaries, to the extent derived from, or incidental to, the international ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (operation of a ship or ships, is currently exempt from U.S. federal income and branch profit taxes. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Our domestic U.S. operations, principally the hotel and transportation business of Holland ) Tj ET Q q 0 0 0 rg BT 412.99 550.10 Td (America Princess ) Tj ET Q q 0 0 0 rg BT 485.20 550.10 Td (Alaska ) Tj ET Q q 0 0 0 rg BT 515.28 550.10 Td (T) Tj ET Q q 0 0 0 rg BT 520.69 550.10 Td (ours, are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (subject to federal and state income taxation in the U.S.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (In general, under Section 883 of the Internal Revenue Code, certain non-U.S. corporations \(such as our North ) Tj ET Q q 0 0 0 rg BT 490.15 514.10 Td (American cruise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (ship businesses\) are not subject to U.S. federal income tax or branch profits tax on U.S. source income derived from, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (incidental to, the international operation of a ship or ships. ) Tj ET Q q 0 0 0 rg BT 285.50 490.10 Td (Applicable U.S. ) Tj ET Q q 0 0 0 rg BT 351.98 490.10 Td (T) Tj ET Q q 0 0 0 rg BT 357.73 490.10 Td (reasury regulations provide in general that a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (foreign corporation will qualify for the benefits of Section 883 if, in relevant part, \(i\) the foreign country in which the foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (corporation is or) Tj ET Q q 0 0 0 rg BT 115.91 466.10 Td (ganized grants an equivalent exemption to corporations or) Tj ET Q q 0 0 0 rg BT 348.16 466.10 Td (ganized in the U.S. in respect of each category of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (shipping income for which an exemption is being claimed under Section 883 \(an equivalent exemption jurisdiction\) and \(ii\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (the foreign corporation meets a defined publicly-traded corporation stock ownership test \(the publicly-traded test\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (Subsidiaries of foreign corporations that are or) Tj ET Q q 0 0 0 rg BT 236.43 430.10 Td (ganized in an equivalent exemption jurisdiction and meet the publicly-traded test ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (also benefit from Section 883. ) Tj ET Q q 0 0 0 rg BT 173.13 418.10 Td (W) Tj ET Q q 0 0 0 rg BT 181.76 418.10 Td (e believe that Panama is an equivalent exemption jurisdiction and that Carnival Corporation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (currently satisfies the publicly-traded test under the regulations. ) Tj ET Q q 0 0 0 rg BT 306.87 406.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 356.21 406.10 Td (, substantially all of Carnival Corporation) Tj ET Q q 0 0 0 rg BT 525.62 406.10 Td (s income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (is exempt from U.S. federal income and branch profit taxes. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (Regulations under Section 883 list certain activities that the Internal Revenue Service \(IRS\) does not consider to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (incidental to the international operation of ships and, therefore, the income attributable to such activities, to the extent such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (income is U.S. source, does not qualify for the Section 883 exemption. ) Tj ET Q q 0 0 0 rg BT 334.95 346.10 Td (Among the activities identified as not incidental are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (income from the sale of air transportation, transfers, shore excursions and pre- and post-cruise land packages to the extent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (earned from sources within the U.S.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 298.10 Td (e believe that the U.S. source transportation income earned by Carnival plc and its subsidiaries currently qualifies for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (exemption from U.S. federal income tax under applicable bilateral U.S. income tax treaties.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (Carnival Corporation and Carnival plc and certain of their subsidiaries are subject to various U.S. state income taxes generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (imposed on each state) Tj ET Q q 0 0 0 rg BT 140.81 250.10 Td (s portion of the U.S. source income subject to U.S. federal income taxes. However) Tj ET Q q 0 0 0 rg BT 470.32 250.10 Td (, the state of ) Tj ET Q q 0 0 0 rg BT 521.14 250.10 Td (Alaska ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (imposes an income tax on its allocated portion of the total income of our companies doing business in ) Tj ET Q q 0 0 0 rg BT 459.37 238.10 Td (Alaska and certain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (their subsidiaries.) Tj ET Q BT /F1 10.00 Tf ET BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (UK and ) Tj ET Q q 0 0 0 rg BT 84.08 202.10 Td (Australian Income T) Tj ET Q q 0 0 0 rg BT 169.29 202.10 Td (ax) Tj ET Q BT /F5 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (Cunard, P&O Cruises \(UK\) and P&O Cruises \(Australia\) are divisions of Carnival plc and have elected to enter the UK ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (tonnage tax under a rolling ten-year term and, accordingly) Tj ET Q q 0 0 0 rg BT 282.31 166.10 Td (, reapply every year) Tj ET Q q 0 0 0 rg BT 361.16 166.10 Td (. Companies to which the tonnage tax regime ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (applies pay corporation taxes on profits calculated by reference to the net tonnage of qualifying ships. UK corporation tax is not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (char) Tj ET Q q 0 0 0 rg BT 67.03 142.10 Td (geable under the normal UK tax rules on these brands) Tj ET Q q 0 0 0 rg BT 284.82 142.10 Td ( relevant shipping income. Relevant shipping income includes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (income from the operation of qualifying ships and from shipping related activities.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (For a company to be eligible for the regime, it must be subject to UK corporation tax and, among other matters, operate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (qualifying ships that are strategically and commercially managed in the UK. Companies within UK tonnage tax are also subject ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (to a seafarer training requirement.) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 137 0 obj <>] /Rotate 0 /Contents 138 0 R>> endobj 138 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Our UK non-shipping activities that do not qualify under the UK tonnage tax regime remain subject to normal UK corporation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (tax. Dividends received from subsidiaries of Carnival plc doing business outside the UK are generally exempt from UK ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (corporation tax.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (P&O Cruises \(Australia\) and all of the other cruise ships operated internationally by Carnival plc for the cruise segment of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Australian vacation region are exempt from ) Tj ET Q q 0 0 0 rg BT 226.60 682.10 Td (Australian corporation tax by virtue of the UK/Australian income tax treaty) Tj ET Q q 0 0 0 rg BT 528.08 682.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (Italian and German Income T) Tj ET Q q 0 0 0 rg BT 173.54 658.10 Td (ax) Tj ET Q BT /F5 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (In early 2015, Costa and ) Tj ET Q q 0 0 0 rg BT 149.98 634.10 Td (AIDA) Tj ET Q q 0 0 0 rg BT 174.42 634.10 Td ( re-elected to enter the Italian tonnage tax regime through 2024 and can reapply for an additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (ten-year period beginning in early 2025. Companies to which the tonnage tax regime applies pay corporation taxes on shipping ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (profits calculated by reference to the net tonnage of qualifying ships. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Most of Costa) Tj ET Q q 0 0 0 rg BT 109.45 586.10 Td (s and ) Tj ET Q q 0 0 0 rg BT 132.23 586.10 Td (AIDA) Tj ET Q q 0 0 0 rg BT 156.11 586.10 Td () Tj ET Q q 0 0 0 rg BT 158.89 586.10 Td (s earnings that are not eligible for taxation under the Italian tonnage tax regime will be taxed at an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 574.10 Td (fective tax rate of 4.8%.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Substantially all of ) Tj ET Q q 0 0 0 rg BT 127.50 550.10 Td (AIDA) Tj ET Q q 0 0 0 rg BT 151.38 550.10 Td () Tj ET Q q 0 0 0 rg BT 154.16 550.10 Td (s earnings are exempt from German income taxes by virtue of the Germany/Italy income tax treaty) Tj ET Q q 0 0 0 rg BT 548.64 550.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Asian Countries Income T) Tj ET Q q 0 0 0 rg BT 158.27 526.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (Substantially all of our brands) Tj ET Q q 0 0 0 rg BT 173.13 502.10 Td ( income from their international operations in ) Tj ET Q q 0 0 0 rg BT 357.24 502.10 Td (Asian countries is exempt from income tax by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (virtue of relevant income tax treaties.) Tj ET Q BT /F1 10.00 Tf ET BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 442.10 Td (e recognize income tax provisions for uncertain tax positions, based solely on their technical merits,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.52 442.10 Td ( when it is more likely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (than not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 430.10 Td (to be sustained upon examination by the relevant tax authority) Tj ET Q q 0 0 0 rg BT 333.45 430.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.95 430.10 Td ( ) Tj ET Q q 0 0 0 rg BT 338.27 430.10 Td (The tax benefit to be recognized is measured as the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (lar) Tj ET Q q 0 0 0 rg BT 60.37 418.10 Td (gest amount of benefit that is greater than 50% likely of being realized upon ultimate resolution. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.75 418.10 Td (Based on all known facts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (and circumstances and current tax law) Tj ET Q q 0 0 0 rg BT 202.34 406.10 Td (, we believe that the total amount of our uncertain income tax position liabilities and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (related accrued interest are not significant to our financial position. ) Tj ET Q q 0 0 0 rg BT 320.18 394.10 Td (All interest expense related to income tax liabilities is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (included in income tax expense.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.57 382.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 358.10 Td (e do not expect to incur income taxes on future distributions of undistributed earnings of foreign subsidiaries and, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (accordingly) Tj ET Q q 0 0 0 rg BT 96.55 346.10 Td (, no deferred income taxes have been provided for the distribution of these earnings. In addition to or in place of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (income taxes, virtually all jurisdictions where our ships call impose taxes, fees and other char) Tj ET Q q 0 0 0 rg BT 423.60 334.10 Td (ges based on guest counts, ship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (tonnage, passenger capacity or some other measure, and these taxes, fees and other char) Tj ET Q q 0 0 0 rg BT 401.34 322.10 Td (ges are included in commissions, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (transportation and other costs and other ship operating expenses. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.04 310.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 280.10 Td (NOTE 9 Shar) Tj ET Q q 0 0 0 rg BT 116.22 280.10 Td (eholders) Tj ET Q q 0 0 0 rg BT 154.92 280.10 Td ( Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.10 Td (Under a share repurchase program ef) Tj ET Q q 0 0 0 rg BT 197.80 256.10 Td (fective 2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.50 256.10 Td (, we are authorized to repurchase Carnival Corporation common stock and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.10 Td (Carnival plc ordinary shares \(the Repurchase Program\). Ef) Tj ET Q q 0 0 0 rg BT 293.61 244.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 322.76 244.10 Td (April 10 and ) Tj ET Q q 0 0 0 rg BT 375.26 244.10 Td (August 27, 2018, the company approved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.10 Td (modifications of the general authorization under the Repurchase Program, which replenished the remaining authorized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.10 Td (repurchases at the time of the approvals to $1.0 billion. ) Tj ET Q q 0 0 0 rg BT 272.54 220.10 Td (The Repurchase Program does not have an expiration date and may be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.10 Td (discontinued by our Boards of Directors at any time. ) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 151.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 149.50 151.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 151.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 151.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 151.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 151.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 151.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 151.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 121.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 149.50 121.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 121.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 121.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 121.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 121.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 121.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 121.60 100.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 149.5 183.60000000000002 m 249.5 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 183.60000000000002 m 253.5 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 183.60000000000002 m 353.5 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 183.60000000000002 m 457.5 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 183.60000000000002 m 461.5 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 183.60000000000002 m 561.5 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 149.5 151.60000000000002 m 249.5 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 151.60000000000002 m 353.5 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 151.60000000000002 m 457.5 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 151.60000000000002 m 561.5 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 149.5 151.60000000000002 m 249.5 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 151.60000000000002 m 457.5 151.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 204.15 188.28 Td (Carnival Corporation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.45 188.28 Td (Carnival plc) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.00 156.31 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 160.25 166.28 Td (Number) Tj ET Q q 0 0 0 rg BT 195.71 166.28 Td ( of Shar) Tj ET Q q 0 0 0 rg BT 229.42 166.28 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 171.00 156.28 Td (Repur) Tj ET Q q 0 0 0 rg BT 198.13 156.28 Td (chased) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.00 174.33 Td (Dollar) Tj ET Q q 0 0 0 rg BT 287.13 174.33 Td ( ) Tj ET Q q 0 0 0 rg BT 289.26 174.33 Td (Amount Paid) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.10 164.33 Td (for) Tj ET Q q 0 0 0 rg BT 293.78 164.33 Td ( Shar) Tj ET Q q 0 0 0 rg BT 316.66 164.33 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.00 154.33 Td (Repur) Tj ET Q q 0 0 0 rg BT 302.13 154.33 Td (chased) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.25 166.28 Td (Number) Tj ET Q q 0 0 0 rg BT 403.71 166.28 Td ( of Shar) Tj ET Q q 0 0 0 rg BT 437.42 166.28 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.00 156.28 Td (Repur) Tj ET Q q 0 0 0 rg BT 406.13 156.28 Td (chased) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.00 174.33 Td (Dollar) Tj ET Q q 0 0 0 rg BT 495.04 174.33 Td ( ) Tj ET Q q 0 0 0 rg BT 496.98 174.33 Td (Amount Paid) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.10 164.33 Td (for) Tj ET Q q 0 0 0 rg BT 501.69 164.33 Td ( Shar) Tj ET Q q 0 0 0 rg BT 524.57 164.33 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.00 154.33 Td (Repur) Tj ET Q q 0 0 0 rg BT 510.04 154.33 Td (chased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 141.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.15 141.27 Td (7.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 141.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 141.27 Td (476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 141.27 Td (16.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 141.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 141.27 Td (985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 126.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.15 126.27 Td (3.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 126.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 126.27 Td (223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 126.27 Td (5.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 126.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 126.27 Td (335) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 111.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.15 111.27 Td (47.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 111.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 111.27 Td (2,264) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 111.27 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 111.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 111.27 Td (35) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 83.10 Td (In addition to the Repurchase Program, we have programs that allow us to obtain an economic benefit when either Carnival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.10 Td (Corporation common stock is trading at a premium to the price of Carnival plc ordinary shares or Carnival plc ordinary shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.10 Td (are trading at a premium to Carnival Corporation common stock \(the Stock Swap Programs\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 47.10 Td ( ) Tj ET Q endstream endobj 139 0 obj <>] /Rotate 0 /Contents 140 0 R>> endobj 140 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.83 742.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.83 742.10 Td (, under the Stock Swap Programs, a subsidiary of Carnival Corporation sold ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.45 742.10 Td (0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.34 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.84 742.10 Td (of Carnival plc ordinary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (shares for net proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.23 730.10 Td ($40 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.63 730.10 Td (. Substantially all of the net proceeds from these sales were used to purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.14 730.10 Td (0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.03 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.99 718.10 Td ( of Carnival Corporation common stock. Carnival Corporation sold these Carnival plc ordinary shares owned by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (subsidiary only to the extent it was able to repurchase an equivalent number of shares of Carnival Corporation common stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (in the U.S.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.78 694.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (During 2018 and 2017, there were no sales or repurchases under the Stock Swap Programs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.46 670.10 Td ( During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.79 670.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.79 670.10 Td (, there were no sales of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (Carnival Corporation common stock or repurchases of Carnival plc ordinary shares under the Stock Swap Programs. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 599.60 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 599.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 599.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 599.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 569.60 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 569.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 569.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 569.60 58.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 625.6 m 500.5 625.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 625.6 m 504.5 625.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 625.6 m 562.5 625.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 612.6 m 500.5 612.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 612.6 m 504.5 612.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 612.6 m 562.5 612.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 612.6 m 500.5 612.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 599.6 m 500.5 599.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 612.6 m 562.5 612.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 599.6 m 562.5 599.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 554.6 m 500.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 554.6 m 562.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 554.6 m 500.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 540.6 m 500.5 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 538.6 m 500.5 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 554.6 m 562.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 540.6 m 562.5 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 538.6 m 562.5 538.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.70 638.33 Td (Accumulated Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.75 628.33 Td (Compr) Tj ET Q q 0 0 0 rg BT 488.21 628.33 Td (ehensive Loss) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 616.85 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.35 616.33 Td (November) Tj ET Q q 0 0 0 rg BT 516.69 616.33 Td ( 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 603.16 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.00 603.33 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.00 603.33 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 590.17 Td (Cumulative foreign currency translation adjustments, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 589.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.80 589.32 Td (\(1,875) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 589.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 589.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 589.32 Td (\(1,675) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 589.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 575.17 Td (Unrecognized pension expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 574.32 Td (\(56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 574.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 574.32 Td (\(94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 574.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 560.17 Td (Net losses on cash flow derivative hedges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 559.32 Td (\(19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 559.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 559.32 Td (\(13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 559.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 544.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.80 544.32 Td (\(1,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 544.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 544.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 544.32 Td (\(1,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 544.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 516.10 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.83 516.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.83 516.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.83 516.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.83 516.10 Td ( and 2016, there were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.68 516.10 Td ($5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.07 516.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.07 516.10 Td ($18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.07 516.10 Td ( million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.47 516.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.90 516.10 Td ($7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.30 516.10 Td ( of unrecognized pension expenses that were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 504.10 Td (reclassified out of accumulated other comprehensive loss and were included within payroll and related expenses and selling and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 492.10 Td (administrative expenses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.31 492.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 468.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 468.10 Td (e declared quarterly cash dividends on all of our common stock and ordinary shares as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 427.60 215.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 427.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 427.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 427.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 427.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 427.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 427.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 427.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 397.60 215.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 397.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 397.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 397.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 397.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 397.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 397.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 397.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 367.60 215.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 367.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 367.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 367.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 367.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 367.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 367.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 367.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 337.60 215.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 337.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 337.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 337.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 337.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 337.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 337.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 337.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 307.60 215.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 307.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 307.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 307.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 307.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 307.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 307.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 307.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 277.60 215.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 277.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 277.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 277.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 277.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 277.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 277.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 277.60 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 442.6 m 339.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 442.6 m 343.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 442.6 m 413.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 442.6 m 417.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 442.6 m 487.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 442.6 m 491.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 442.6 m 561.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 427.6 m 339.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 427.6 m 413.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 427.6 m 487.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 442.6 m 561.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 427.6 m 561.5 427.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.90 447.28 Td (Quarters Ended) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.00 432.31 Td (\(in millions, except per shar) Tj ET Q q 0 0 0 rg BT 164.11 432.31 Td (e data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.55 432.28 Td (February 28/29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.00 432.28 Td (May 31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.45 432.28 Td (August 31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.60 432.28 Td (November) Tj ET Q q 0 0 0 rg BT 541.85 432.28 Td ( 30) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52 415.71259765625 m 72 415.71259765625 l s q 0 0 0 rg BT 52.00 417.28 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 402.27 Td (Dividends declared per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.00 403.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 403.17 Td (0.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 403.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 403.17 Td (0.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 403.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 403.17 Td (0.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 403.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 403.17 Td (0.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 387.27 Td (Dividends declared) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.00 388.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 388.17 Td (322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 388.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 388.17 Td (357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 388.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 388.17 Td (350) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 388.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 388.17 Td (349) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52 355.71259765625 m 72 355.71259765625 l s q 0 0 0 rg BT 52.00 357.28 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 342.27 Td (Dividends declared per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.00 343.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 343.17 Td (0.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 343.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 343.17 Td (0.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 343.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 343.17 Td (0.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 343.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 343.17 Td (0.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 327.27 Td (Dividends declared) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.00 328.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 328.17 Td (251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 328.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 328.17 Td (291) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 328.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 328.17 Td (289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 328.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 328.17 Td (324) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52 295.71259765625 m 72 295.71259765625 l s q 0 0 0 rg BT 52.00 297.28 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 282.27 Td (Dividends declared per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.00 283.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 283.17 Td (0.30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 283.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 283.17 Td (0.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 283.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 283.17 Td (0.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 283.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 283.17 Td (0.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 267.27 Td (Dividends declared) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.00 268.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 268.17 Td (225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 268.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 268.17 Td (261) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 268.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 268.17 Td (256) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 268.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 268.17 Td (254) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 239.10 Td (Carnival Corporation) Tj ET Q q 0 0 0 rg BT 138.04 239.10 Td (s ) Tj ET Q q 0 0 0 rg BT 143.88 239.10 Td (Articles of Incorporation authorize its Board of Directors, at its discretion, to issue up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.07 239.10 Td ($40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.07 239.10 Td ( million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 227.10 Td (shares of preferred stock. ) Tj ET Q q 0 0 0 rg BT 153.01 227.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.51 227.10 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.22 227.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.66 227.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.66 227.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.66 227.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.66 227.10 Td ( Carnival Corporation preferred stock had been issued and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 215.10 Td (nominal amount of Carnival plc preference shares had been issued. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 191.10 Td (NOTE 10 Fair) Tj ET Q q 0 0 0 rg BT 118.98 191.10 Td ( ) Tj ET Q q 0 0 0 rg BT 121.30 191.10 Td (V) Tj ET Q q 0 0 0 rg BT 127.61 191.10 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 180.47 191.10 Td (ements, Derivative Instruments and Hedging ) Tj ET Q q 0 0 0 rg BT 373.80 191.10 Td (Activities and Financial Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 167.10 Td (Fair) Tj ET Q q 0 0 0 rg BT 68.14 167.10 Td ( ) Tj ET Q q 0 0 0 rg BT 70.46 167.10 Td (V) Tj ET Q q 0 0 0 rg BT 76.77 167.10 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 129.63 167.10 Td (ements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.10 Td (Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 131.10 Td (transaction between market participants at the measurement date and is measured using inputs in one of the following three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 119.10 Td (categories:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.31 119.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 95.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 95.10 Td (Level 1 measurements are based on unadjusted quoted prices in active markets for identical assets or liabilities that we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 83.10 Td (have the ability to access. ) Tj ET Q q 0 0 0 rg BT 190.78 83.10 Td (V) Tj ET Q q 0 0 0 rg BT 196.89 83.10 Td (aluation of these items does not entail a significant amount of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.94 83.10 Td ( judgment. ) Tj ET Q endstream endobj 141 0 obj <>] /Rotate 0 /Contents 142 0 R>> endobj 142 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (Level 2 measurements are based on quoted prices for similar assets or liabilities in active markets, quoted prices for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (identical or similar assets or liabilities in markets that are not active or market data other than quoted prices that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (observable for the assets or liabilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.07 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 694.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (Level 3 measurements are based on unobservable data that are supported by little or no market activity and are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td (significant to the fair value of the assets or liabilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.16 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (Considerable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.76 658.10 Td ( judgment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.54 658.10 Td (may be required in interpreting market data used to develop the estimates of fair value. ) Tj ET Q q 0 0 0 rg BT 494.86 658.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 544.19 658.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (certain estimates of fair value presented herein are not necessarily indicative of the amounts that could be) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.50 646.10 Td ( realized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.14 646.10 Td (in a current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (or future market exchange.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.72 634.10 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 78.00 610.10 Td (Financial Instruments that are not Measured at Fair V) Tj ET Q q 0 0 0 rg BT 304.17 610.10 Td (alue on a Recurring Basis) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 560.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 198.50 560.60 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 560.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 248.50 560.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 560.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 560.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 560.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 560.60 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 560.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 560.60 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 560.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 560.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 560.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 560.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 560.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 560.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 530.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 198.50 530.60 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 530.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 248.50 530.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 530.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 530.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 530.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 530.60 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 530.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 530.60 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 530.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 530.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 530.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 530.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 530.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 530.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 500.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 198.50 500.60 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 500.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 248.50 500.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 500.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 500.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 500.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 500.60 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 500.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 500.60 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 500.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 500.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 500.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 500.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 500.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 500.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 470.60 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 198.50 470.60 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 470.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 248.50 470.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 470.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 470.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 470.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 470.60 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 470.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 470.60 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 470.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 470.60 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 470.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 470.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 470.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 470.60 42.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 586.6 m 244.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 586.6 m 248.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 586.6 m 286.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 586.6 m 290.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 586.6 m 330.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 586.6 m 334.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 586.6 m 371.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 586.6 m 421.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 586.6 m 425.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 586.6 m 467.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467.5 586.6 m 471.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 586.6 m 516.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 586.6 m 520.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 586.6 m 562.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 573.6 m 286.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 573.6 m 290.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 573.6 m 330.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 573.6 m 334.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 573.6 m 371.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 586.6 m 467.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 573.6 m 467.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467.5 586.6 m 471.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467.5 573.6 m 471.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 586.6 m 516.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 573.6 m 516.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 586.6 m 520.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 573.6 m 520.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 586.6 m 562.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 573.6 m 562.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 560.6 m 244.5 560.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 560.6 m 286.5 560.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 560.6 m 330.5 560.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 573.6 m 371.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 560.6 m 371.5 560.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 560.6 m 421.5 560.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 560.6 m 467.5 560.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 560.6 m 516.5 560.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 573.6 m 562.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 560.6 m 562.5 560.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 530.6 m 244.5 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 530.6 m 286.5 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 530.6 m 330.5 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 530.6 m 371.5 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 530.6 m 421.5 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 530.6 m 467.5 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 530.6 m 516.5 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 530.6 m 562.5 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 516.6 m 244.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 514.6 m 244.5 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 516.6 m 286.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 514.6 m 286.5 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 516.6 m 330.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 514.6 m 330.5 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 530.6 m 371.5 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 516.6 m 371.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 514.6 m 371.5 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 516.6 m 421.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 514.6 m 421.5 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 516.6 m 467.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 514.6 m 467.5 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 516.6 m 516.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 514.6 m 516.5 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 530.6 m 562.5 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 516.6 m 562.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 514.6 m 562.5 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 470.6 m 244.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 470.6 m 286.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 470.6 m 330.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 470.6 m 421.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 470.6 m 467.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 470.6 m 516.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 456.6 m 244.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 454.6 m 244.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 456.6 m 286.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 454.6 m 286.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 456.6 m 330.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 454.6 m 330.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 470.6 m 371.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 456.6 m 371.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 454.6 m 371.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 456.6 m 421.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 454.6 m 421.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 456.6 m 467.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 454.6 m 467.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 456.6 m 516.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 454.6 m 516.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 470.6 m 562.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 456.6 m 562.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 454.6 m 562.5 454.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 590.85 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 243.60 590.33 Td (November) Tj ET Q q 0 0 0 rg BT 287.94 590.33 Td ( 30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.60 590.33 Td (November) Tj ET Q q 0 0 0 rg BT 471.94 590.33 Td ( 30, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 577.85 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.25 575.28 Td (Carrying) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 208.95 565.28 Td (V) Tj ET Q q 0 0 0 rg BT 215.71 565.28 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.20 577.33 Td (Fair) Tj ET Q q 0 0 0 rg BT 305.43 577.33 Td () Tj ET Q q 0 0 0 rg BT 307.75 577.33 Td (V) Tj ET Q q 0 0 0 rg BT 314.43 577.33 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.25 575.28 Td (Carrying) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.95 565.28 Td (V) Tj ET Q q 0 0 0 rg BT 392.71 565.28 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.20 577.33 Td (Fair) Tj ET Q q 0 0 0 rg BT 489.43 577.33 Td () Tj ET Q q 0 0 0 rg BT 491.75 577.33 Td (V) Tj ET Q q 0 0 0 rg BT 498.43 577.33 Td (alue) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 57.00 564.16 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.55 564.33 Td (Level1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.55 564.33 Td (Level2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.05 564.33 Td (Level 3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.55 564.33 Td (Level 1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.05 564.33 Td (Level2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.55 564.33 Td (Level 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 551.17 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 536.17 Td (Long-term other assets \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.00 535.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.65 535.27 Td (127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.00 535.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.65 535.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 535.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 535.27 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.00 535.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 535.27 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.00 535.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 535.27 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.00 535.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 535.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 535.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.65 535.27 Td (49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 535.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 535.27 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 521.17 Td (T) Tj ET Q q 0 0 0 rg BT 86.76 521.17 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.00 520.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.65 520.27 Td (127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.00 520.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.65 520.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 520.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 520.27 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.00 520.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 520.27 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.00 520.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 520.27 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.00 520.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 520.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 520.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.65 520.27 Td (49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 520.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 520.27 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 506.17 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 491.17 Td (Fixed rate debt \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.00 490.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.15 490.27 Td (5,699) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.00 490.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.65 490.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 490.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.10 490.27 Td (5,799) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.00 490.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 490.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.00 490.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 490.27 Td (5,588) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.00 490.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 490.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 490.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 490.27 Td (5,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 490.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 490.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 476.17 Td (Floating rate debt \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.15 475.27 Td (4,695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.65 475.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.10 475.27 Td (4,727) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 475.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 475.27 Td (3,658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 475.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 475.27 Td (3,697) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 475.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 461.17 Td (T) Tj ET Q q 0 0 0 rg BT 86.41 461.17 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.00 460.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.10 460.27 Td (10,394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.00 460.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.65 460.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 460.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.10 460.27 Td (10,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.00 460.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 460.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.00 460.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 460.27 Td (9,246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.00 460.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 460.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 460.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 460.27 Td (9,589) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 460.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 460.27 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 433.30 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 433.30 Td (Long-term other assets are comprised of notes receivable. ) Tj ET Q q 0 0 0 rg BT 314.34 433.30 Td (The fair values of our Level 2 notes receivables were based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 421.30 Td (on estimated future cash flows discounted at appropriate market interest rates. ) Tj ET Q q 0 0 0 rg BT 395.16 421.30 Td (The fair values of our Level 3 notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 409.30 Td (receivable were estimated using risk-adjusted discount rates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.42 409.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 397.30 Td (\(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 397.30 Td (The debt amounts above do not include the impact of interest rate swaps or debt issuance costs. ) Tj ET Q q 0 0 0 rg BT 464.60 397.30 Td (The fair values of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 385.30 Td (publicly-traded notes were based on their unadjusted quoted market prices in markets that are not suf) Tj ET Q q 0 0 0 rg BT 484.86 385.30 Td (ficiently active to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 373.30 Td (be Level 1 and, accordingly) Tj ET Q q 0 0 0 rg BT 191.69 373.30 Td (, are considered Level 2. ) Tj ET Q q 0 0 0 rg BT 292.30 373.30 Td (The fair values of our other debt were estimated based on current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 361.30 Td (market interest rates being applied to this debt.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.17 361.30 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 74.00 337.30 Td (Financial Instruments that are Measured at Fair V) Tj ET Q q 0 0 0 rg BT 284.33 337.30 Td (alue on a Recurring Basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.13 337.30 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 300.80 198.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 248.50 300.80 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 300.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 300.80 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 300.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 300.80 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 300.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 300.80 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 300.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 300.80 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 300.80 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 300.80 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 272.80 198.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 248.50 272.80 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 272.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 272.80 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 272.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 272.80 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 272.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 272.80 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 272.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 272.80 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 272.80 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 272.80 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 244.80 198.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 248.50 244.80 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 244.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 244.80 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 244.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 244.80 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 244.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 244.80 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 244.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 244.80 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 244.80 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 244.80 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 216.80 198.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 248.50 216.80 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 216.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 216.80 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 216.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 216.80 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 216.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 216.80 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 216.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 216.80 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 216.80 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 216.80 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 188.80 198.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 248.50 188.80 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 188.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 188.80 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 188.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 188.80 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 188.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 188.80 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 188.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 188.80 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 188.80 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 188.80 47.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 314.79999999999995 m 298.5 314.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 314.79999999999995 m 302.5 314.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 314.79999999999995 m 351.5 314.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 314.79999999999995 m 355.5 314.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 314.79999999999995 m 402.5 314.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 314.79999999999995 m 456.5 314.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 314.79999999999995 m 460.5 314.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 314.79999999999995 m 510.5 314.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 314.79999999999995 m 515.5 314.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 314.79999999999995 m 562.5 314.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 300.79999999999995 m 298.5 300.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 300.79999999999995 m 351.5 300.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 300.79999999999995 m 402.5 300.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 300.79999999999995 m 456.5 300.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 300.79999999999995 m 510.5 300.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 314.79999999999995 m 562.5 314.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 300.79999999999995 m 562.5 300.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 230.79999999999995 m 298.5 230.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 217.79999999999995 m 298.5 217.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 215.79999999999995 m 298.5 215.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 230.79999999999995 m 351.5 230.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 217.79999999999995 m 351.5 217.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 215.79999999999995 m 351.5 215.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 230.79999999999995 m 402.5 230.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 217.79999999999995 m 402.5 217.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 215.79999999999995 m 402.5 215.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 230.79999999999995 m 456.5 230.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 217.79999999999995 m 456.5 217.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 215.79999999999995 m 456.5 215.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 230.79999999999995 m 510.5 230.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 217.79999999999995 m 510.5 217.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 215.79999999999995 m 510.5 215.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 230.79999999999995 m 562.5 230.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 217.79999999999995 m 562.5 217.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 215.79999999999995 m 562.5 215.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 188.79999999999995 m 298.5 188.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 188.79999999999995 m 351.5 188.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 188.79999999999995 m 456.5 188.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 188.79999999999995 m 510.5 188.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 175.79999999999995 m 298.5 175.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248.5 173.79999999999995 m 298.5 173.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 175.79999999999995 m 351.5 175.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 173.79999999999995 m 351.5 173.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 188.79999999999995 m 402.5 188.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 175.79999999999995 m 402.5 175.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 173.79999999999995 m 402.5 173.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 175.79999999999995 m 456.5 175.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 173.79999999999995 m 456.5 173.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 175.79999999999995 m 510.5 175.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 173.79999999999995 m 510.5 173.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 188.79999999999995 m 562.5 188.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 175.79999999999995 m 562.5 175.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 173.79999999999995 m 562.5 173.79999999999995 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 318.75 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 284.10 317.53 Td (November) Tj ET Q q 0 0 0 rg BT 328.44 317.53 Td ( 30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.10 317.53 Td (November) Tj ET Q q 0 0 0 rg BT 487.44 317.53 Td ( 30, 2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 305.36 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.55 305.48 Td (Level1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 311.05 305.48 Td (Level2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.05 305.48 Td (Level 3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.55 305.48 Td (Level1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.55 305.48 Td (Level2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.05 305.48 Td (Level 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 291.37 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 277.37 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.00 277.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.65 277.37 Td (982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.00 277.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 277.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.00 277.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 277.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.00 277.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 277.37 Td (395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 277.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 277.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.00 277.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 277.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 263.37 Td (Restricted cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 263.37 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 263.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 263.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 263.37 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 263.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 263.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 249.37 Td (Marketable securities held in rabbi trusts \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.65 249.37 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 249.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 249.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 249.37 Td (97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 249.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 249.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 235.37 Td (Derivative financial instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 235.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 235.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 235.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 235.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 235.37 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 235.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 221.37 Td (T) Tj ET Q q 0 0 0 rg BT 82.76 221.37 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.00 221.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.15 221.37 Td (1,005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.00 221.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 221.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.00 221.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 221.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.00 221.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 221.37 Td (518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 221.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 221.37 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.00 221.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 221.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 207.37 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 193.37 Td (Derivative financial instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.00 193.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 193.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.00 193.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 193.37 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.00 193.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 193.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.00 193.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 193.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 193.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 193.37 Td (161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.00 193.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 193.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 179.37 Td (T) Tj ET Q q 0 0 0 rg BT 82.41 179.37 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.00 179.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 179.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.00 179.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 179.37 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.00 179.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 179.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.00 179.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 179.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 179.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 179.37 Td (161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.00 179.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 179.37 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 164.50 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 152.50 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 152.50 Td (The use of marketable securities held in rabbi trusts is restricted to funding certain deferred compensation and non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 140.50 Td (qualified U.S. pension plans.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.54 140.50 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 72.50 116.50 Td (Nonfinancial Instruments that are Measured at Fair V) Tj ET Q q 0 0 0 rg BT 297.28 116.50 Td (alue on a Nonrecurring Basis) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.08 116.50 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 92.50 Td (V) Tj ET Q q 0 0 0 rg BT 92.30 92.50 Td (aluation of Goodwill and ) Tj ET Q q 0 0 0 rg BT 200.48 92.50 Td (T) Tj ET Q q 0 0 0 rg BT 206.41 92.50 Td (rademarks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 68.50 Td (As of July 31, 2018, we performed our annual goodwill and trademark impairment reviews and we determined there was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.25 68.50 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.25 68.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 56.50 Td (impairment for goodwill or trademarks.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.57 56.50 Td ( ) Tj ET Q endstream endobj 143 0 obj <>] /Rotate 0 /Contents 144 0 R>> endobj 144 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (During 2017, we made a decision to strategically realign our business in ) Tj ET Q q 0 0 0 rg BT 340.77 730.10 Td (Australia, which includes reducing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.17 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (capacity in P&O Cruises \(Australia\). ) Tj ET Q q 0 0 0 rg BT 199.79 718.10 Td (W) Tj ET Q q 0 0 0 rg BT 208.42 718.10 Td (e performed discounted cash flow analyses and determined that the estimated fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (values of the P&O Cruises \(Australia\) reporting unit and its trademark no longer exceeded their carrying values. ) Tj ET Q q 0 0 0 rg BT 501.35 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 509.99 706.10 Td (e recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (a goodwill impairment char) Tj ET Q q 0 0 0 rg BT 160.62 694.10 Td (ge of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.39 694.10 Td ($38 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.78 694.10 Td ( and a trademark impairment char) Tj ET Q q 0 0 0 rg BT 364.81 694.10 Td (ge of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.58 694.10 Td ($50 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.97 694.10 Td ( for the year ended November ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (30, 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.50 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (The determination of our reporting unit goodwill and trademark ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.98 658.10 Td (fair values includes numerous assumptions that are subject to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.92 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (various risks and uncertainties. ) Tj ET Q q 0 0 0 rg BT 176.18 646.10 Td (The principal assumptions, all of which are considered Level 3 inputs, used in our cash flow) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.25 646.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (analyses consisted of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.20 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.10 Td (Forecasted operating results, including net revenue yields and net cruise costs including fuel prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.94 610.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 598.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.10 Td (Capacity changes and the expected rotation of vessels into or out of each of these cruise brands, including decisions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.10 Td (about the allocation of new ships amongst brands, the transfer of ships between brands and the timing of ship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 574.10 Td (dispositions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.29 574.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 562.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 562.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 562.10 Td (eighted-average cost of capital of market participants, adjusted for the risk attributable to the geographic regions in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.10 Td (which these cruise brands operate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.95 550.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 538.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 538.10 Td (Capital expenditures, proceeds from forecasted dispositions of ships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.71 538.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 538.10 Td (terminal values) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.52 538.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 514.10 Td (e believe that we have made reasonable estimates and judgments. Changes in the conditions or circumstances may result in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (need to recognize an additional impairment char) Tj ET Q q 0 0 0 rg BT 243.07 502.10 Td (ge.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.01 502.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 453.60 301.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 453.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 453.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 453.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 453.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 453.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 423.60 301.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 423.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 423.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 423.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 423.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 423.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 393.60 301.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 393.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 393.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 393.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 393.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 393.60 66.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 476.6 m 422.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 476.6 m 426.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 476.6 m 492.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 476.6 m 496.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 476.6 m 562.5 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 453.6 m 422.5 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 453.6 m 492.5 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 453.6 m 562.5 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 453.6 m 422.5 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 453.6 m 492.5 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 453.6 m 562.5 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 408.6 m 492.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 408.6 m 562.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 408.6 m 422.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 408.6 m 492.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 408.6 m 562.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 378.6 m 422.5 378.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 378.6 m 492.5 378.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 378.6 m 562.5 378.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 378.6 m 422.5 378.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 364.6 m 422.5 364.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 362.6 m 422.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 364.6 m 492.5 364.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 362.6 m 492.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 364.6 m 562.5 364.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 362.6 m 562.5 362.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.05 481.28 Td (Goodwill) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 458.31 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.35 458.28 Td (NAA) Tj ET Q q 0 0 0 rg BT 377.74 458.28 Td ( Segment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.75 458.28 Td (EA) Tj ET Q q 0 0 0 rg BT 446.37 458.28 Td ( Segment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.05 458.28 Td (T) Tj ET Q q 0 0 0 rg BT 523.80 458.28 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 444.17 Td (At November 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 443.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 443.27 Td (1,934) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 443.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 443.27 Td (976) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 443.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 443.27 Td (2,910) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 429.17 Td (Impairment char) Tj ET Q q 0 0 0 rg BT 119.27 429.17 Td (ge) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 428.32 Td (\(38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 428.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 428.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 428.32 Td (\(38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 428.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 414.17 Td (Foreign currency translation adjustment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.65 413.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 413.27 Td (93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 413.27 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 399.17 Td (At November 30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 398.27 Td (1,898) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 398.27 Td (1,069) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 398.27 Td (2,967) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 384.17 Td (Foreign currency translation adjustment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 383.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.30 383.32 Td (\(42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 383.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 383.32 Td (\(42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 383.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 369.17 Td (At November 30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 368.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 368.27 Td (1,898) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 368.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 368.27 Td (1,027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 368.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 368.27 Td (2,925) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 303.60 304.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 303.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 303.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 303.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 303.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 303.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 273.60 304.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 273.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 273.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 273.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 273.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 273.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 243.60 304.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 243.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 243.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 243.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 243.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 243.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 326.6 m 425.5 326.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 326.6 m 429.5 326.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 326.6 m 493.5 326.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 326.6 m 497.5 326.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 326.6 m 562.5 326.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 326.6 m 425.5 326.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 303.6 m 425.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 326.6 m 493.5 326.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 303.6 m 493.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 303.6 m 562.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 258.6 m 425.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 258.6 m 493.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 258.6 m 562.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 228.60000000000002 m 425.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 228.60000000000002 m 493.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 228.60000000000002 m 562.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 214.60000000000002 m 425.5 214.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 212.60000000000002 m 425.5 212.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 214.60000000000002 m 493.5 214.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 212.60000000000002 m 493.5 212.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 228.60000000000002 m 562.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 214.60000000000002 m 562.5 214.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 212.60000000000002 m 562.5 212.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.70 331.28 Td (T) Tj ET Q q 0 0 0 rg BT 438.00 331.28 Td (rademarks) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 308.31 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.35 308.28 Td (NAA) Tj ET Q q 0 0 0 rg BT 380.74 308.28 Td ( Segment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.75 308.28 Td (EA) Tj ET Q q 0 0 0 rg BT 448.37 308.28 Td ( Segment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.55 308.28 Td (T) Tj ET Q q 0 0 0 rg BT 524.30 308.28 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 294.17 Td (At November 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.00 293.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 293.27 Td (975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.00 293.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 293.27 Td (231) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 293.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 293.27 Td (1,206) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 279.17 Td (Impairment char) Tj ET Q q 0 0 0 rg BT 119.27 279.17 Td (ge) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 278.32 Td (\(50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 278.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 278.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 278.32 Td (\(50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 278.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 264.17 Td (Foreign currency translation adjustment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 263.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 263.27 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 263.27 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 249.17 Td (At November 30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 248.27 Td (928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 248.27 Td (251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 248.27 Td (1,179) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 234.17 Td (Foreign currency translation adjustment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 233.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.30 233.32 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 233.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 233.32 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 233.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 219.17 Td (At November 30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.00 218.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 218.27 Td (927) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.00 218.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 218.27 Td (242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 218.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 218.27 Td (1,169) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 190.10 Td (Impairments of Ships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 166.10 Td (e review our long-lived assets for impairment whenever events or circumstances indicate potential impairment. Primarily as a) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.97 166.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (result of our decision during 2017 to strategically realign our business in ) Tj ET Q q 0 0 0 rg BT 342.17 154.10 Td (Australia, which includes reducing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.57 154.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.07 154.10 Td (capacity in P&O ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (Cruises \(Australia\), we performed undiscounted cash flow analyses on certain ships as of July 31, 2017. Based on these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (undiscounted cash flow analyses, we determined that some of these ships had net carrying values that exceeded their estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (undiscounted future cash flows. ) Tj ET Q q 0 0 0 rg BT 179.51 118.10 Td (W) Tj ET Q q 0 0 0 rg BT 188.15 118.10 Td (e estimated the July 31, 2017 fair values of these ships based on their discounted cash flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (and comparable market transactions. ) Tj ET Q q 0 0 0 rg BT 198.93 106.10 Td (W) Tj ET Q q 0 0 0 rg BT 207.56 106.10 Td (e then compared these estimated fair values to the net carrying values and, as a result, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (we recognized $162 million and $142 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.24 94.10 Td (of ship impairment char) Tj ET Q q 0 0 0 rg BT 330.87 94.10 Td (ges in the NAA) Tj ET Q q 0 0 0 rg BT 392.81 94.10 Td ( and EA) Tj ET Q q 0 0 0 rg BT 425.02 94.10 Td ( segments, respectively) Tj ET Q q 0 0 0 rg BT 517.40 94.10 Td (, for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (year end November 30, 2017. ) Tj ET Q q 0 0 0 rg BT 171.17 82.10 Td (The impairment is included in other ship operating expenses in our consolidated statements of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.93 70.10 Td ( ) Tj ET Q endstream endobj 145 0 obj <>] /Rotate 0 /Contents 146 0 R>> endobj 146 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The principal assumptions used in our analyses consisted of forecasted future operating results, including net revenue yields ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (and net cruise costs including fuel prices, estimated ship sale proceeds, and changes in strategy) Tj ET Q q 0 0 0 rg BT 429.23 730.10 Td (, including decisions about the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (transfer of ships between brands.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.90 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.85 718.10 Td (All principal assumptions are considered Level 3 inputs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.36 718.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Derivative Instruments and Hedging ) Tj ET Q q 0 0 0 rg BT 208.34 694.10 Td (Activities) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 648.60 254.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 648.60 120.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 648.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 648.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 648.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 648.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 618.60 254.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 618.60 120.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 618.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 618.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 618.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 618.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 588.60 254.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 588.60 120.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 588.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 588.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 588.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 588.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 558.60 254.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 558.60 120.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 558.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 558.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 558.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 558.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 528.60 254.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 528.60 120.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 528.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 528.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 528.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 528.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 498.60 254.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 498.60 120.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 498.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 498.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 498.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 498.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 468.60 254.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 468.60 120.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 468.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 468.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 468.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 468.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 438.60 254.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 438.60 120.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 438.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 438.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 438.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 438.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 408.60 254.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 408.60 120.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 408.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 408.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 408.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 408.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 661.6 m 493.5 661.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 661.6 m 497.5 661.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 661.6 m 562.5 661.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 648.6 m 424.5 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 648.6 m 493.5 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 648.6 m 562.5 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 588.6 m 493.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 588.6 m 562.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 588.6 m 493.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 574.6 m 493.5 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 572.6 m 493.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 588.6 m 562.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 574.6 m 562.5 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 572.6 m 562.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 483.6 m 493.5 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 468.6 m 493.5 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 483.6 m 562.5 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 468.6 m 562.5 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 423.6 m 493.5 423.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 408.6 m 493.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 423.6 m 562.5 423.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 408.6 m 562.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 394.6 m 493.5 394.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 392.6 m 493.5 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 394.6 m 562.5 394.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 392.6 m 562.5 392.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 665.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 665.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.35 665.33 Td (November) Tj ET Q q 0 0 0 rg BT 509.69 665.33 Td ( 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 652.16 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 314.00 652.33 Td (BalanceSheetLocation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.50 652.33 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.50 652.33 Td (2017) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 53 637.76259765625 m 124.3671875 637.76259765625 l s q 0 0 0 rg BT 53.00 639.33 Td (Derivative assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 624.17 Td (Derivatives designated as hedging instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 609.17 Td (Cross currency swaps \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 608.27 Td (Prepaidexpensesandother) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 608.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 608.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 608.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 608.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 594.17 Td (Foreign currency zero cost collars \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 593.27 Td (Prepaid expenses and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 593.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 593.27 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 579.17 Td (T) Tj ET Q q 0 0 0 rg BT 58.76 579.17 Td (otal derivative assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 578.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 578.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 578.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 578.27 Td (15) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 53 562.76259765625 m 138.8154296875 562.76259765625 l s q 0 0 0 rg BT 53.00 564.33 Td (Derivative liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 549.17 Td (Derivatives designated as hedging instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 534.17 Td (Cross currency swaps \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 533.27 Td (Accruedliabilitiesandother) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 533.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 533.27 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 533.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 533.27 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 518.27 Td (Other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 518.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 518.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 504.17 Td (Interest rate swaps \(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 503.27 Td (Accrued liabilities and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 503.27 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 503.27 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 488.27 Td (Other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 488.27 Td (1) Tj ET Q q 0 0 0 rg BT 484.65 488.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 488.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 473.27 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 473.27 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 459.17 Td (Derivatives not designated as hedging instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 444.17 Td (Fuel \(d\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 443.27 Td (Accrued liabilities and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 443.27 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 443.27 Td (95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 428.27 Td (Other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 428.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 428.27 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 413.27 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 413.27 Td (104) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 399.17 Td (T) Tj ET Q q 0 0 0 rg BT 58.41 399.17 Td (otal derivative liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 398.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 398.27 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 398.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 398.27 Td (161) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 383.30 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.30 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 371.30 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.50 371.30 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.21 371.30 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.65 371.30 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.65 371.30 Td (, we had cross currency swaps totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.27 371.30 Td ($156 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.66 371.30 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.10 371.30 Td ($324 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.49 371.30 Td (, respectively) Tj ET Q q 0 0 0 rg BT 540.15 371.30 Td (, that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 359.30 Td (are designated as hedges of our net investments in foreign operations with a euro-denominated functional currency) Tj ET Q q 0 0 0 rg BT 535.36 359.30 Td (. ) Tj ET Q q 0 0 0 rg BT 539.81 359.30 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 347.30 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.71 347.30 Td (, this cross currency swap settles through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.34 347.30 Td (September 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.60 347.30 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.10 347.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.30 Td (\(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 335.30 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.50 335.30 Td (November30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.21 335.30 Td (, we had foreign currency derivatives consisting of foreign currency zero cost collars that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 323.30 Td (designated as foreign currency cash flow hedges for a portion of our euro-denominated shipbuilding payments. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.54 323.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.30 Td (\(c\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 311.30 Td (W) Tj ET Q q 0 0 0 rg BT 85.64 311.30 Td (e have euro interest rate swaps designated as cash flow hedges whereby we receive floating interest rate payments in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 299.30 Td (exchange for making fixed interest rate payments. ) Tj ET Q q 0 0 0 rg BT 279.52 299.30 Td (These interest rate swap agreements ef) Tj ET Q q 0 0 0 rg BT 433.99 299.30 Td (fectively changed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.28 299.30 Td ($385 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.67 299.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 287.30 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.72 287.30 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.42 287.30 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.86 287.30 Td ($479 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.25 287.30 Td ( at November 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.18 287.30 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.18 287.30 Td ( of EURIBOR-based floating rate euro debt to fixed rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 275.30 Td (euro debt. ) Tj ET Q q 0 0 0 rg BT 118.93 275.30 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.43 275.30 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.14 275.30 Td (, these interest rate swaps settle through March 2025.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.86 275.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 263.30 Td (\(d\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 263.30 Td (At November 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.21 263.30 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.21 263.30 Td (, we had fuel derivatives consisting of zero cost collars on Brent crude oil \(Brent\) to cover a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 251.30 Td (portion of our estimated fuel consumption through 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.19 251.30 Td ( ) Tj ET Q endstream endobj 147 0 obj <>] /Rotate 0 /Contents 148 0 R>> endobj 148 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Our derivative contracts include rights of of) Tj ET Q q 0 0 0 rg BT 225.32 742.10 Td (fset with our counterparties. ) Tj ET Q q 0 0 0 rg BT 339.82 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 348.46 742.10 Td (e have elected to net certain of our derivative assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (and liabilities within counterparties. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 666.60 125.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.50 666.60 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 241.50 666.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 666.60 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 666.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 666.60 87.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 666.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 666.60 77.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 666.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 666.60 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 582.60 125.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.50 582.60 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 241.50 582.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 582.60 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 582.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 582.60 87.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 582.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 582.60 77.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 582.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 582.60 68.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 706.6 m 241.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 706.6 m 241.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 666.6 m 241.5 666.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 241.5 706.6 m 245.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 706.6 m 317.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 666.6 m 317.5 666.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 706.6 m 321.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 706.6 m 408.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 666.6 m 408.5 666.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 706.6 m 412.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 706.6 m 489.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 666.6 m 489.5 666.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 706.6 m 493.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 706.6 m 561.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 666.6 m 561.5 666.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 619.6 m 241.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 619.6 m 241.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 241.5 619.6 m 245.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 619.6 m 317.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 619.6 m 321.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 619.6 m 408.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 619.6 m 412.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 619.6 m 489.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 619.6 m 493.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 619.6 m 561.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 582.6 m 241.5 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 582.6 m 317.5 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 582.6 m 408.5 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 582.6 m 489.5 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 582.6 m 561.5 582.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.60 710.33 Td (November) Tj ET Q q 0 0 0 rg BT 370.94 710.33 Td ( 30, 2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.00 671.31 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 195.05 681.28 Td (Gr) Tj ET Q q 0 0 0 rg BT 207.18 681.28 Td (oss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.05 671.28 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.15 691.28 Td (Gr) Tj ET Q q 0 0 0 rg BT 260.28 691.28 Td (oss ) Tj ET Q q 0 0 0 rg BT 275.19 691.28 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.60 681.28 Td (Offset in the) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.10 671.28 Td (Balance Sheet) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.40 691.28 Td (T) Tj ET Q q 0 0 0 rg BT 330.61 691.28 Td (otal Net ) Tj ET Q q 0 0 0 rg BT 365.97 691.28 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 681.28 Td (Pr) Tj ET Q q 0 0 0 rg BT 340.61 681.28 Td (esented in the) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.60 671.28 Td (Balance Sheet) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.65 691.28 Td (Gr) Tj ET Q q 0 0 0 rg BT 429.78 691.28 Td (oss ) Tj ET Q q 0 0 0 rg BT 444.69 691.28 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.90 681.28 Td (not Offset in the) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.60 671.28 Td (Balance Sheet) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.05 671.28 Td (Net ) Tj ET Q q 0 0 0 rg BT 516.26 671.28 Td (Amounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 657.17 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.00 657.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.65 657.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.00 657.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.65 657.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 657.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 657.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 657.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 657.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 657.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 657.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 644.17 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.00 644.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.65 644.17 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.00 644.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.65 644.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 644.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 644.17 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 644.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 644.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 644.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 644.17 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.60 623.33 Td (November) Tj ET Q q 0 0 0 rg BT 370.94 623.33 Td ( 30, 2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.00 587.31 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 195.05 597.28 Td (Gr) Tj ET Q q 0 0 0 rg BT 207.18 597.28 Td (oss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.05 587.28 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.15 607.28 Td (Gr) Tj ET Q q 0 0 0 rg BT 260.28 607.28 Td (oss ) Tj ET Q q 0 0 0 rg BT 275.19 607.28 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.60 597.28 Td (Offset in the) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.10 587.28 Td (Balance Sheet) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.40 607.28 Td (T) Tj ET Q q 0 0 0 rg BT 330.61 607.28 Td (otal Net ) Tj ET Q q 0 0 0 rg BT 365.97 607.28 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 597.28 Td (Pr) Tj ET Q q 0 0 0 rg BT 340.61 597.28 Td (esented in the) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.60 587.28 Td (Balance Sheet) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.65 607.28 Td (Gr) Tj ET Q q 0 0 0 rg BT 429.78 607.28 Td (oss ) Tj ET Q q 0 0 0 rg BT 444.69 607.28 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.90 597.28 Td (not Offset in the) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.60 587.28 Td (Balance Sheet) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.05 587.28 Td (Net ) Tj ET Q q 0 0 0 rg BT 515.99 587.28 Td (Amounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 573.17 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.00 573.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.65 573.17 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.00 573.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.65 573.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 573.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 573.17 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 573.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.30 573.22 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.65 573.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 573.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 573.17 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 560.17 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.00 560.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.65 560.17 Td (161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.00 560.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.65 560.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 560.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 560.17 Td (161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 560.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.30 560.22 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.65 560.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 560.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 560.17 Td (153) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 533.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 75.63 533.10 Td (fective gain \(loss\) portions of our derivatives qualifying and designated as hedging instruments recognized in other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 521.10 Td (comprehensive \(loss\) income were as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.22 521.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 486.60 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 486.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 486.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 486.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 486.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 486.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 458.60 309.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 458.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 458.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 458.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 458.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 458.60 65.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 498.6 m 424.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 498.6 m 428.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 498.6 m 493.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 498.6 m 497.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 498.6 m 562.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 498.6 m 424.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 486.6 m 424.5 486.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 486.6 m 493.5 486.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 486.6 m 562.5 486.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 502.55 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.85 501.33 Td (November) Tj ET Q q 0 0 0 rg BT 475.19 501.33 Td ( 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 489.21 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.50 489.33 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.50 489.33 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.50 489.33 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 477.17 Td (Cross currency swaps - net investment hedges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 477.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 477.17 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 477.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.30 477.22 Td (\(31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 477.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 477.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 477.22 Td (\(33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 477.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 463.17 Td (Foreign currency zero cost collars cash flow hedges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 463.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.30 463.22 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 463.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 463.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 463.17 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 463.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 463.22 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 463.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 449.17 Td (Interest rate swaps cash flow hedges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 449.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 449.17 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 449.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 449.17 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 449.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 449.17 Td (8) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 421.10 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.21 421.10 Td ( and 2017, no collateral was required to be posted to or received from our fuel derivative counterparties. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.10 Td (The amount of estimated cash flow hedges) Tj ET Q q 0 0 0 rg BT 223.65 397.10 Td ( unrealized gains and losses that are expected to be reclassified to earnings in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 385.10 Td (next twelve months is not significant.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (Financial Risk ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 72.50 337.10 Td (Fuel Price Risks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 313.10 Td (e manage our exposure to fuel price risk by managing our consumption of fuel. Substantially all of our exposure to market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 301.10 Td (risk for changes in fuel prices relates to the consumption of fuel on our ships. ) Tj ET Q q 0 0 0 rg BT 361.41 301.10 Td (W) Tj ET Q q 0 0 0 rg BT 370.05 301.10 Td (e manage fuel consumption through ship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 289.10 Td (maintenance practices, modifying our itineraries and implementing innovative technologies. ) Tj ET Q q 0 0 0 rg BT 421.09 289.10 Td (W) Tj ET Q q 0 0 0 rg BT 429.73 289.10 Td (e are also adding new) Tj ET Q q 0 0 0 rg BT 515.71 289.10 Td (, more fuel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 277.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 277.10 Td (ficient ships to our fleet and are strategically disposing of smaller) Tj ET Q q 0 0 0 rg BT 318.78 277.10 Td (, less fuel ef) Tj ET Q q 0 0 0 rg BT 366.91 277.10 Td (ficient ships.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.02 277.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 239.60 379.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 239.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 239.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 239.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 239.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 239.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 209.60 379.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 209.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 209.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 209.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 209.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 209.60 41.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 251.60000000000002 m 470.5 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 251.60000000000002 m 475.5 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 251.60000000000002 m 516.5 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 251.60000000000002 m 521.5 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.5 251.60000000000002 m 562.5 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 251.60000000000002 m 470.5 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 239.60000000000002 m 470.5 239.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 251.60000000000002 m 516.5 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 239.60000000000002 m 516.5 239.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.5 251.60000000000002 m 562.5 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.5 239.60000000000002 m 562.5 239.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 209.60000000000002 m 470.5 209.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 195.60000000000002 m 470.5 195.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 193.60000000000002 m 470.5 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 209.60000000000002 m 516.5 209.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 195.60000000000002 m 516.5 195.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 193.60000000000002 m 516.5 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.5 209.60000000000002 m 562.5 209.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.5 195.60000000000002 m 562.5 195.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.5 193.60000000000002 m 562.5 193.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.85 256.28 Td (November) Tj ET Q q 0 0 0 rg BT 510.19 256.28 Td ( 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 242.21 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.50 242.33 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.50 242.33 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.50 242.33 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 229.27 Td (Unrealized gains on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.00 229.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 229.27 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 229.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.65 229.27 Td (227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.00 229.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 229.27 Td (236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 214.27 Td (Realized losses on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 214.32 Td (\(35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 214.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.30 214.32 Td (\(192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 214.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 214.32 Td (\(283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 214.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 199.27 Td (Gains \(losses\) on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.00 199.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 199.27 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 199.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.65 199.27 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.00 199.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 199.32 Td (\(47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 199.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F5 10.00 Tf ET q 0 0 0 rg BT 72.50 171.10 Td (Foreign Currency Exchange Rate Risks) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 81.50 147.10 Td (Overall Strategy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 123.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 123.10 Td (e manage our exposure to fluctuations in foreign currency exchange rates through our normal operating and financing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 111.10 Td (activities, including netting certain exposures to take advantage of any natural of) Tj ET Q q 0 0 0 rg BT 372.49 111.10 Td (fsets and, when considered appropriate, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 99.10 Td (through the use of derivative and non-derivative financial instruments.Our primary focus is to monitor our exposure to, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 87.10 Td (manage, the economic foreign currency exchange risks faced by our operations and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.75 87.10 Td ( realized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.39 87.10 Td (if we exchange one currency for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 75.10 Td (another) Tj ET Q q 0 0 0 rg BT 79.43 75.10 Td (.) Tj ET Q q 0 0 0 rg BT 84.25 75.10 Td (W) Tj ET Q q 0 0 0 rg BT 92.89 75.10 Td (e currently only hedge certain of our ship commitments and net investments in foreign operations. ) Tj ET Q q 0 0 0 rg BT 487.61 75.10 Td (The financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 63.10 Td (impacts of the hedging instruments we do employ generally of) Tj ET Q q 0 0 0 rg BT 300.04 63.10 Td (fset the changes in the underlying exposures being hedged.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.81 63.10 Td ( ) Tj ET Q endstream endobj 149 0 obj <>] /Rotate 0 /Contents 150 0 R>> endobj 150 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-23) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 95.00 742.25 Td (Operational Currency Risks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (Our operations primarily utilize the U.S. dollar) Tj ET Q q 0 0 0 rg BT 237.33 718.25 Td (, ) Tj ET Q q 0 0 0 rg BT 241.78 718.25 Td (Australian dollar) Tj ET Q q 0 0 0 rg BT 308.86 718.25 Td (, euro or sterling as their functional currencies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.74 718.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.74 718.25 Td (Our operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (also have revenue and expenses denominated in non-functional currencies.Movements in foreign currency exchange rates will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 694.25 Td (fect our financial statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.60 694.25 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 95.00 670.25 Td (Investment Currency Risks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 646.25 Td (e consider our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.78 646.25 Td (investments in foreign operations to be denominated in stable currencies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.92 646.25 Td ( Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.47 646.25 Td (investments in foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (operations are of a long-term nature.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.05 634.25 Td () Tj ET Q q 0 0 0 rg BT 198.37 634.25 Td (W) Tj ET Q q 0 0 0 rg BT 207.01 634.25 Td (e have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.32 634.25 Td ($5.9 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.44 634.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.87 634.25 Td ($848 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.27 634.25 Td ( of euro- and sterling-denominated debt, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 622.25 Td (, including the ef) Tj ET Q q 0 0 0 rg BT 165.24 622.25 Td (fect of cross currency swaps, which provides an economic of) Tj ET Q q 0 0 0 rg BT 408.86 622.25 Td (fset for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.46 622.25 Td ( our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.79 622.25 Td (operations with euro and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (sterling functional currency) Tj ET Q q 0 0 0 rg BT 159.86 610.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.36 610.25 Td ( ) Tj ET Q q 0 0 0 rg BT 164.68 610.25 Td (W) Tj ET Q q 0 0 0 rg BT 173.32 610.25 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.26 610.25 Td (also partially) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.19 610.25 Td ( mitigate our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.79 610.25 Td (net investment currency exposures by denominating a portion of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.50 610.25 Td ( our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (foreign currency intercompany payables in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.60 598.25 Td ( our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.93 598.25 Td (foreign operations) Tj ET Q q 0 0 0 rg BT 315.55 598.25 Td ( functional currencies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.67 598.25 Td () Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 95.00 574.25 Td (Newbuild Currency Risks ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (Our shipbuilding contracts are typically denominated in euros. Our decision to hedge a non-functional currency ship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (commitment for our cruise brands is made on a case-by-case basis, considering the amount and duration of the exposure, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (market volatility) Tj ET Q q 0 0 0 rg BT 115.72 526.25 Td (, economic trends, our overall expected net cash flows by currency and other of) Tj ET Q q 0 0 0 rg BT 433.48 526.25 Td (fsetting risks. ) Tj ET Q q 0 0 0 rg BT 489.68 526.25 Td (W) Tj ET Q q 0 0 0 rg BT 498.32 526.25 Td (e use foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (currency derivative contracts to manage foreign currency exchange rate risk for some of our ship construction payments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.87 514.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.82 514.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.71 502.25 Td ( we had no outstanding foreign currency derivative contracts used to manage shipyard payments.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 478.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.21 478.25 Td (, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.04 478.25 Td (remaining newbuild currency exchange rate risk primarily relates to euro-denominated newbuild ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (contract payments to non-euro functional currency brands, which represent a total unhedged commitment of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.63 466.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.13 466.25 Td ($10.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.25 466.25 Td ( for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (newbuilds scheduled to be delivered from 2019 through 2025.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (The cost of shipbuilding orders that we may place in the future that is denominated in a dif) Tj ET Q q 0 0 0 rg BT 412.78 430.25 Td (ferent currency than our cruise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (brands) Tj ET Q q 0 0 0 rg BT 79.25 418.25 Td ( will be af) Tj ET Q q 0 0 0 rg BT 119.33 418.25 Td (fected by foreign currency exchange rate fluctuations.) Tj ET Q q 0 0 0 rg BT 337.38 418.25 Td (These foreign currency exchange rate fluctuations may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 406.25 Td (fect our decision to order new cruise ships.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.20 406.25 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 95.00 382.25 Td (Interest Rate Risks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 358.25 Td (e manage our exposure to fluctuations in interest rates through our debt portfolio management and investment strategies.) Tj ET Q q 0 0 0 rg BT 543.32 358.25 Td (W) Tj ET Q q 0 0 0 rg BT 551.96 358.25 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (evaluate our debt portfolio to determine whether to make periodic adjustments to the mix of fixed and floating rate debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (through the use of interest rate swaps, issuance of new debt, amendment of existing debt or early retirement of existing debt.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.91 334.25 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 72.50 310.25 Td (Concentrations of Credit Risk) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 195.58 310.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (As part of our ongoing control procedures, we monitor concentrations of credit risk associated with financial and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (institutions with which we conduct significant business.) Tj ET Q q 0 0 0 rg BT 275.91 274.25 Td (W) Tj ET Q q 0 0 0 rg BT 284.55 274.25 Td (e seek to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.53 274.25 Td ( minimize ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.30 274.25 Td (these credit risk exposures, including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (counterparty nonperformance primarily associated with our cash equivalents, investments, committed financing facilities, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (contingent obligations, derivative instruments, insurance contracts and new ship progress payment guarantees, by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.83 250.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 226.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 226.25 Td (Conducting business with lar) Tj ET Q q 0 0 0 rg BT 202.20 226.25 Td (ge, well-established financial institutions, insurance companies and export credit agencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.81 226.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 214.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 214.25 Td (Diversifying our counterparties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.52 214.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 202.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 202.25 Td (Having guidelines regarding credit ratings and investment maturities that we follow to help safeguard liquidity and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.60 202.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 190.25 Td (minimize risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.27 190.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 178.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 178.25 Td (Generally requiring collateral and/or guarantees to support notes receivable on significant asset sales, long-term ship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 166.25 Td (charters and new ship progress payments to shipyards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.23 166.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 142.25 Td (e believe the risk of nonperformance by any of our significant counterparties is remote. ) Tj ET Q q 0 0 0 rg BT 409.35 142.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.85 142.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.56 142.25 Td (, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (exposures under foreign currency) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.11 130.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.61 130.25 Td (contracts and interest rate swap agreements were not material.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.11 130.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.43 130.25 Td (W) Tj ET Q q 0 0 0 rg BT 446.07 130.25 Td (e also monitor the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (creditworthiness of travel agencies and tour operators in ) Tj ET Q q 0 0 0 rg BT 276.59 118.25 Td (Asia, ) Tj ET Q q 0 0 0 rg BT 299.37 118.25 Td (Australia and Europe, which includes charter) Tj ET Q q 0 0 0 rg BT 479.66 118.25 Td (-hire agreements in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (Asia and credit and debit card providers to which we extend credit in the normal course of our business.Our credit exposure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (also includes contingent obligations related to cash payments received directly by travel agents and tour operators for cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.25 Td (collected by them on cruise sales in ) Tj ET Q q 0 0 0 rg BT 194.13 82.25 Td (Australia and most of Europe where we are obligated to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.66 82.25 Td ( honor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.49 82.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.99 82.25 Td (our guests) Tj ET Q q 0 0 0 rg BT 489.41 82.25 Td ( cruise payments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (made by them to their travel agents and tour operators regardless of whether we have received these payments. Concentrations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (of credit risk associated with these trade receivables, charter) Tj ET Q q 0 0 0 rg BT 290.52 58.25 Td (-hire agreements and contingent obligations are not considered to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (be material, principally due to the lar) Tj ET Q q 0 0 0 rg BT 197.82 46.25 Td (ge number of unrelated accounts, the nature of these contingent obligations and their short ) Tj ET Q endstream endobj 151 0 obj <>] /Rotate 0 /Contents 152 0 R>> endobj 152 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (maturities. ) Tj ET Q q 0 0 0 rg BT 94.81 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 103.45 742.10 Td (e have not experienced significant credit losses on our trade receivables, charter) Tj ET Q q 0 0 0 rg BT 422.55 742.10 Td (-hire agreements and contingent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (obligations. ) Tj ET Q q 0 0 0 rg BT 99.26 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 107.90 730.10 Td (e do not normally require collateral or other security to support normal credit sales.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.57 730.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (NOTE 1) Tj ET Q q 0 0 0 rg BT 85.29 706.10 Td (1 Segment Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Beginning in the first quarter of 2018, we revised our operating segments due to changes in our internal reporting as a result of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (the recent strategic realignment of our business in ) Tj ET Q q 0 0 0 rg BT 251.05 670.10 Td (Australia. ) Tj ET Q q 0 0 0 rg BT 292.52 670.10 Td (The presentation of prior period segment information has been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (revised to reflect this change. Our operating segments are reported on the same basis as the internally reported information that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (is provided to our chief operating decision maker \(CODM\), who is the President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 477.76 646.10 Td (ficer of Carnival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Corporation and Carnival plc. ) Tj ET Q q 0 0 0 rg BT 171.73 634.10 Td (The CODM assesses performance and makes decisions to allocate resources for Carnival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Corporation& plc based upon review of the results across all of our segments. Our four reportable segments are comprised of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (\(1\)NAA) Tj ET Q q 0 0 0 rg BT 85.27 610.10 Td ( cruise operations, \(2\)EA) Tj ET Q q 0 0 0 rg BT 187.74 610.10 Td ( cruise operations, \(3\) Cruise Support and \(4\) ) Tj ET Q q 0 0 0 rg BT 371.13 610.10 Td (T) Tj ET Q q 0 0 0 rg BT 376.54 610.10 Td (our and Other) Tj ET Q q 0 0 0 rg BT 431.53 610.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.03 610.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (The operating segments within each of our NAA) Tj ET Q q 0 0 0 rg BT 244.67 586.10 Td ( and EA) Tj ET Q q 0 0 0 rg BT 276.89 586.10 Td ( reportable segments have been aggregated based on the similarity of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (their economic and other characteristics. Our Cruise Support segment includes our portfolio of leading port destinations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (other services, all of which are operated for the benefit of our cruise brands. Our ) Tj ET Q q 0 0 0 rg BT 373.86 562.10 Td (T) Tj ET Q q 0 0 0 rg BT 379.27 562.10 Td (our and Other segment represents the hotel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (and transportation operations of Holland ) Tj ET Q q 0 0 0 rg BT 214.13 550.10 Td (America Princess ) Tj ET Q q 0 0 0 rg BT 286.33 550.10 Td (Alaska ) Tj ET Q q 0 0 0 rg BT 316.42 550.10 Td (T) Tj ET Q q 0 0 0 rg BT 321.83 550.10 Td (ours and other operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.69 550.10 Td ( ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.19 550.10 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 490.60 107.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 157.50 490.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 490.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 490.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 490.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 490.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 490.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 490.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 490.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 490.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 490.60 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 490.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 490.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 490.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 460.60 107.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 157.50 460.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 460.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 460.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 460.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 460.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 460.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 460.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 460.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 460.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 460.60 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 460.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 460.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 460.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 430.60 107.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 157.50 430.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 430.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 430.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 430.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 430.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 430.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 430.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 430.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 430.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 430.60 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 430.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 430.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 430.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 400.60 107.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 157.50 400.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 400.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 400.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 400.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 400.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 400.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 400.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 400.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 400.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 400.60 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 400.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 400.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 400.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 370.60 107.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 157.50 370.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 370.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 370.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 370.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 370.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 370.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 370.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 370.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 370.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 370.60 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 370.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 370.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 370.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 340.60 107.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 157.50 340.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 340.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 340.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 340.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 340.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 340.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 340.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 340.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 340.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 340.60 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 340.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 340.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 340.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 310.60 107.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 157.50 310.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 310.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 310.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 310.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 310.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 310.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 310.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 310.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 310.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 310.60 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 310.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 310.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 310.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 280.60 107.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 157.50 280.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 280.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 280.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 280.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 280.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 280.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 280.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 280.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 280.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 280.60 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 280.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 280.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 280.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 250.60 107.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 157.50 250.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 250.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 250.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 250.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 250.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 250.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 250.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 250.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 250.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 250.60 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 250.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 250.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 250.60 50.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157.5 525.6 m 207.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 525.6 m 211.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 525.6 m 259.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 525.6 m 263.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 525.6 m 321.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 525.6 m 325.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 525.6 m 377.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 525.6 m 382.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 525.6 m 437.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 525.6 m 455.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 525.6 m 508.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 525.6 m 512.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 525.6 m 562.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157.5 525.6 m 207.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157.5 490.6 m 207.5 490.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 525.6 m 211.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 525.6 m 259.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 490.6 m 259.5 490.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 525.6 m 263.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 525.6 m 321.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 490.6 m 321.5 490.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 525.6 m 325.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 525.6 m 377.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 490.6 m 377.5 490.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 490.6 m 437.5 490.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 490.6 m 508.5 490.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 490.6 m 562.5 490.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157.5 415.6 m 207.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157.5 401.6 m 207.5 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157.5 399.6 m 207.5 399.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 415.6 m 259.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 401.6 m 259.5 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 399.6 m 259.5 399.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 415.6 m 321.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 401.6 m 321.5 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 399.6 m 321.5 399.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 415.6 m 377.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 401.6 m 377.5 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 399.6 m 377.5 399.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 415.6 m 437.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 401.6 m 437.5 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 399.6 m 437.5 399.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 415.6 m 508.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 401.6 m 508.5 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 399.6 m 508.5 399.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 415.6 m 562.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 401.6 m 562.5 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 399.6 m 562.5 399.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157.5 325.6 m 207.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157.5 311.6 m 207.5 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157.5 309.6 m 207.5 309.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 325.6 m 259.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 311.6 m 259.5 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 309.6 m 259.5 309.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 325.6 m 321.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 311.6 m 321.5 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 309.6 m 321.5 309.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 325.6 m 377.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 311.6 m 377.5 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 309.6 m 377.5 309.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 325.6 m 437.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 311.6 m 437.5 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 309.6 m 437.5 309.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 325.6 m 508.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 311.6 m 508.5 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 309.6 m 508.5 309.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 325.6 m 562.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 311.6 m 562.5 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 309.6 m 562.5 309.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157.5 235.60000000000002 m 207.5 235.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157.5 221.60000000000002 m 207.5 221.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157.5 219.60000000000002 m 207.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 235.60000000000002 m 259.5 235.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 221.60000000000002 m 259.5 221.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 219.60000000000002 m 259.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 235.60000000000002 m 321.5 235.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 221.60000000000002 m 321.5 221.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 219.60000000000002 m 321.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 235.60000000000002 m 377.5 235.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 221.60000000000002 m 377.5 221.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 219.60000000000002 m 377.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 235.60000000000002 m 437.5 235.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 221.60000000000002 m 437.5 221.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 219.60000000000002 m 437.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 235.60000000000002 m 508.5 235.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 221.60000000000002 m 508.5 221.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 219.60000000000002 m 508.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 235.60000000000002 m 562.5 235.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 221.60000000000002 m 562.5 221.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 219.60000000000002 m 562.5 219.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.20 530.28 Td (As of and for) Tj ET Q q 0 0 0 rg BT 321.85 530.28 Td ( the years ended November) Tj ET Q q 0 0 0 rg BT 437.76 530.28 Td ( 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 495.31 Td (\(in millions\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 165.75 494.83 Td (Revenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 217.40 510.83 Td (Operating) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 219.30 502.83 Td (costs and) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 220.10 494.83 Td (expenses) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 272.95 502.83 Td (Selling and) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.10 494.83 Td (administrative) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.05 510.83 Td (Depr) Tj ET Q q 0 0 0 rg BT 346.31 510.83 Td (eciation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 344.55 502.83 Td (and) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.00 494.83 Td (amortization) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.90 502.83 Td (Operating) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.35 494.83 Td (income \(loss\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.80 502.83 Td (Capital) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 459.55 494.83 Td (expenditur) Tj ET Q q 0 0 0 rg BT 496.81 494.83 Td (es) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.45 494.83 Td (T) Tj ET Q q 0 0 0 rg BT 522.05 494.83 Td (otal assets) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 53 479.76259765625 m 73 479.76259765625 l s q 0 0 0 rg BT 53.00 481.33 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 466.17 Td (NAA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.00 465.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.15 465.27 Td (12,236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 465.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.15 465.27 Td (7,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.00 465.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.15 465.27 Td (1,403) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.00 465.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 465.27 Td (1,264) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.00 465.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 465.27 Td (2,389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 465.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 465.27 Td (2,614) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 465.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 465.27 Td (25,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 451.17 Td (EA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.15 450.27 Td (6,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.15 450.27 Td (3,676) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.65 450.27 Td (751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.65 450.27 Td (61) Tj ET Q q 0 0 0 rg BT 368.65 450.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 450.27 Td (1,205) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 450.27 Td (945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 450.27 Td (13,825) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 436.17 Td (Cruise Support) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.65 435.27 Td (129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.65 435.27 Td (53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.65 435.27 Td (268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.65 435.27 Td (103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.30 435.32 Td (\(296) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.65 435.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 435.27 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 435.27 Td (2,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 421.17 Td (T) Tj ET Q q 0 0 0 rg BT 58.76 421.17 Td (our and Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.65 420.27 Td (272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 420.27 Td (180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 420.27 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 420.27 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 420.27 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 420.27 Td (152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 420.27 Td (660) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.00 405.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.15 405.27 Td (18,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 405.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.10 405.27 Td (1) Tj ET Q q 0 0 0 rg BT 233.10 405.27 Td (1,089) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.00 405.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.15 405.27 Td (2,450) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.00 405.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 405.27 Td (2,017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.00 405.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 405.27 Td (3,325) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 405.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 405.27 Td (3,749) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 405.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 405.27 Td (42,401) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 53 389.76259765625 m 73 389.76259765625 l s q 0 0 0 rg BT 53.00 391.33 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 376.17 Td (NAA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.00 375.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.15 375.27 Td (1) Tj ET Q q 0 0 0 rg BT 181.15 375.27 Td (1,442) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 375.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.15 375.27 Td (6,704) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.00 375.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.15 375.27 Td (1,337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.00 375.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 375.27 Td (1,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.00 375.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 375.27 Td (2,1) Tj ET Q q 0 0 0 rg BT 423.65 375.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 375.27 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 375.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 375.27 Td (1,715) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 375.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 375.27 Td (24,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 361.17 Td (EA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.15 360.27 Td (5,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.15 360.27 Td (3,568) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.65 360.27 Td (667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.65 360.27 Td (561) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 360.27 Td (907) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 360.27 Td (793) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 360.27 Td (14,149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 346.17 Td (Cruise Support) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.65 345.27 Td (129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.65 345.27 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.65 345.27 Td (246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 345.27 Td (53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.30 345.32 Td (\(235) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.65 345.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 345.27 Td (431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 345.27 Td (1,739) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 331.17 Td (T) Tj ET Q q 0 0 0 rg BT 58.76 331.17 Td (our and Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.65 330.27 Td (236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 330.27 Td (163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 330.27 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 330.27 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 330.27 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 330.27 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 330.27 Td (459) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.00 315.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.15 315.27 Td (17,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 315.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.10 315.27 Td (10,501) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.00 315.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.15 315.27 Td (2,265) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.00 315.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 315.27 Td (1,846) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.00 315.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 315.27 Td (2,809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 315.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 315.27 Td (2,944) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 315.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 315.27 Td (40,778) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 53 299.76259765625 m 73 299.76259765625 l s q 0 0 0 rg BT 53.00 301.33 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 286.17 Td (NAA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.00 285.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.15 285.27 Td (10,563) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 285.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.15 285.27 Td (5,961) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.00 285.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.15 285.27 Td (1,273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.00 285.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 285.27 Td (1,1) Tj ET Q q 0 0 0 rg BT 363.65 285.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.00 285.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 285.27 Td (2,21) Tj ET Q q 0 0 0 rg BT 428.65 285.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 285.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 285.27 Td (2,1) Tj ET Q q 0 0 0 rg BT 494.65 285.27 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 285.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 285.27 Td (24,066) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 271.17 Td (EA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.15 270.27 Td (5,464) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.15 270.27 Td (3,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.65 270.27 Td (638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.65 270.27 Td (538) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 270.27 Td (1,086) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 270.27 Td (622) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 270.27 Td (12,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 256.17 Td (Cruise Support) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.65 255.27 Td (131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.65 255.27 Td (67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.65 255.27 Td (278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 255.27 Td (42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.30 255.32 Td (\(256) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.65 255.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 255.27 Td (310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 255.27 Td (1,513) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 241.17 Td (T) Tj ET Q q 0 0 0 rg BT 58.41 241.17 Td (our and Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.65 240.27 Td (231) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 240.27 Td (152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 240.27 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 240.27 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 240.27 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 240.27 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 240.27 Td (458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.00 225.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.15 225.27 Td (16,389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 225.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.15 225.27 Td (9,383) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.00 225.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.15 225.27 Td (2,197) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.00 225.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 225.27 Td (1,738) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.00 225.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 225.27 Td (3,071) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 225.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 225.27 Td (3,062) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 225.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 225.27 Td (38,881) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 210.30 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.30 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 77.00 198.30 Td (Includes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.38 198.30 Td ($89 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.77 198.30 Td ( of impairment char) Tj ET Q q 0 0 0 rg BT 238.72 198.30 Td (ges related to NAA) Tj ET Q q 0 0 0 rg BT 315.09 198.30 Td () Tj ET Q q 0 0 0 rg BT 317.87 198.30 Td (s goodwill and trademarks.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 174.30 Td (Revenues by geographic areas, which are based on where our guests are sourced, were as follows:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.35 174.30 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 135.80 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 135.80 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 135.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 135.80 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 135.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 135.80 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 105.80 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 105.80 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 105.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 105.80 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 105.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 105.80 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 75.80 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 75.80 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 75.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 75.80 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 75.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 75.80 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 148.79999999999995 m 424.5 148.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 148.79999999999995 m 428.5 148.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 148.79999999999995 m 493.5 148.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 148.79999999999995 m 497.5 148.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 148.79999999999995 m 562.5 148.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 135.79999999999995 m 424.5 135.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 135.79999999999995 m 493.5 135.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 135.79999999999995 m 562.5 135.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 135.79999999999995 m 493.5 135.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 75.79999999999995 m 424.5 75.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 75.79999999999995 m 493.5 75.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 75.79999999999995 m 562.5 75.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 75.79999999999995 m 424.5 75.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 61.799999999999955 m 424.5 61.799999999999955 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 59.799999999999955 m 424.5 59.799999999999955 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 75.79999999999995 m 493.5 75.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 61.799999999999955 m 493.5 61.799999999999955 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 59.799999999999955 m 493.5 59.799999999999955 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 75.79999999999995 m 562.5 75.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 61.799999999999955 m 562.5 61.799999999999955 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 59.799999999999955 m 562.5 59.799999999999955 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 153.47 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 55.50 153.47 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.50 153.48 Td (Y) Tj ET Q q 0 0 0 rg BT 409.17 153.48 Td (ears Ended November) Tj ET Q q 0 0 0 rg BT 503.51 153.48 Td ( 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 139.36 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.50 139.53 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.50 139.53 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.50 139.53 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 126.37 Td (North ) Tj ET Q q 0 0 0 rg BT 78.55 126.37 Td (America) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 125.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 125.47 Td (10,066) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 125.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 125.47 Td (9,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 125.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 125.47 Td (8,327) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 111.37 Td (Europe) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 110.47 Td (5,957) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 110.47 Td (5,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 110.47 Td (5,254) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 96.37 Td (Australia and ) Tj ET Q q 0 0 0 rg BT 108.82 96.37 Td (Asia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 95.47 Td (2,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 95.47 Td (2,604) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 95.47 Td (2,506) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 81.37 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 80.47 Td (327) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 80.47 Td (297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 80.47 Td (302) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 65.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 65.47 Td (18,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 65.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 65.47 Td (17,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 65.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 65.47 Td (16,389) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 153 0 obj <>] /Rotate 0 /Contents 154 0 R>> endobj 154 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Substantially all of our long-lived assets consist of our ships and move between geographic areas.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.74 742.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (NOTE 12 Compensation Plans ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Equity Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 670.10 Td (e issue our share-based compensation awards, which at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.62 670.10 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.33 670.10 Td ( included time-based share awards \(restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (stock awards and restricted stock units\), performance-based share awards and market-based share awards \(collectively equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (awards\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.09 646.10 Td (, under the Carnival Corporation and Carnival plc stock plans. Equity awards are principally granted to management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (level employees and members of our Boards of Directors. ) Tj ET Q q 0 0 0 rg BT 283.64 634.10 Td (The plans are administered by the Compensation Committee which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (is made up of independent directors who determine which employees are eligible to participate, the monetary value or number ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (of shares for which equity awards are to be granted and the amounts that may be exercised or sold within a specified term. ) Tj ET Q q 0 0 0 rg BT 541.32 610.10 Td (W) Tj ET Q q 0 0 0 rg BT 549.96 610.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (had an aggregate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.07 598.10 Td (13.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.96 598.10 Td ( shares available for future grant at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.84 598.10 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.55 598.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.37 598.10 Td (W) Tj ET Q q 0 0 0 rg BT 415.00 598.10 Td (e fulfill our equity award obligations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (using shares purchased in the open market or with unissued shares or treasury shares. Our equity awards generally vest over a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.99 574.10 Td (-year period, subject to earlier vesting under certain conditions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.73 574.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 526.60 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 526.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 526.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 526.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 496.60 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 496.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 496.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 496.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 466.60 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 466.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 466.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 466.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 436.60 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 436.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 436.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 436.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 406.60 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 406.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 406.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 406.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 376.60 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 376.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 376.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 376.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 346.60 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 346.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 346.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 346.60 96.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 526.6 m 462.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 526.6 m 562.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 526.6 m 462.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 526.6 m 562.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 466.6 m 462.5 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 466.6 m 462.5 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 406.6 m 462.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 346.6 m 462.5 346.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 332.6 m 462.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 330.6 m 462.5 330.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 530.85 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.60 531.28 Td (Shar) Tj ET Q q 0 0 0 rg BT 440.07 531.28 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 551.28 Td (W) Tj ET Q q 0 0 0 rg BT 484.10 551.28 Td (eighted-A) Tj ET Q q 0 0 0 rg BT 525.02 551.28 Td (verage) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.35 541.28 Td (GrantDateFair) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.95 531.28 Td (V) Tj ET Q q 0 0 0 rg BT 508.25 531.28 Td (alue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 517.17 Td (Outstanding at November 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.60 516.27 Td (3,609,395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 516.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 516.27 Td (42.84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 502.17 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.60 501.27 Td (1,451,917) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 501.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 501.27 Td (53.98) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 487.17 Td (V) Tj ET Q q 0 0 0 rg BT 59.67 487.17 Td (ested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.30 486.32 Td (\(1,454,381) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 486.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 486.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 486.27 Td (38.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 472.17 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.80 471.32 Td (\(193,806) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 471.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 471.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 471.27 Td (47.76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 457.17 Td (Outstanding at November 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.60 456.27 Td (3,413,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 456.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 456.27 Td (48.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 442.17 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.60 441.27 Td (1,1) Tj ET Q q 0 0 0 rg BT 431.10 441.27 Td (16,314) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 441.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 441.27 Td (54.79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 427.17 Td (V) Tj ET Q q 0 0 0 rg BT 59.67 427.17 Td (ested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.30 426.32 Td (\(1,466,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 426.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 426.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 426.27 Td (38.95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 412.17 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.80 411.32 Td (\(1) Tj ET Q q 0 0 0 rg BT 431.13 411.32 Td (12,781) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 411.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 411.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 411.27 Td (51.72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 397.17 Td (Outstanding at November 30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.60 396.27 Td (2,949,968) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 396.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 396.27 Td (51.82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 382.17 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.15 381.27 Td (951,906) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 381.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 381.27 Td (66.68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 367.17 Td (V) Tj ET Q q 0 0 0 rg BT 59.67 367.17 Td (ested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.30 366.32 Td (\(1,419,218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 366.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 366.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 366.27 Td (45.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 352.17 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.80 351.32 Td (\(202,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 351.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 351.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 351.27 Td (56.57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 337.17 Td (Outstanding at November 30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.60 336.27 Td (2,280,517) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 336.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 336.27 Td (61.57) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 308.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 308.10 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.15 308.10 Td (, there was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.69 308.10 Td ($65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.69 308.10 Td ( million of total unrecognized compensation cost related to equity awards, which is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 296.10 Td (expected to be recognized over a weighted-average period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.26 296.10 Td (1.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.76 296.10 Td ( years.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.86 296.10 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 272.10 Td (Defined Benefit Pension Plans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 176.94 272.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 248.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 248.10 Td (e have several single-employer defined benefit pension plans, which cover some of our shipboard and shoreside employees. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 236.10 Td (The U.S. and UK shoreside employee plans are closed to new membership and are funded at or above the level required by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 224.10 Td (U.S. or UK regulations. ) Tj ET Q q 0 0 0 rg BT 147.31 224.10 Td (The remaining defined benefit plans are primarily unfunded. In determining all of our plans) Tj ET Q q 0 0 0 rg BT 516.45 224.10 Td ( benefit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 212.10 Td (obligations at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.66 212.10 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.37 212.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.81 212.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.81 212.10 Td (, we assumed a weighted-average discount rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.11 212.10 Td (3.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.94 212.10 Td ( for 2018 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.04 212.10 Td (2.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.87 212.10 Td ( for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 200.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 200.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 176.10 Td (In addition, we participate in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.74 176.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.74 176.10 Td ( multiemployer defined benefit pension plans in the UK, the British Merchant Navy Of) Tj ET Q q 0 0 0 rg BT 530.81 176.10 Td (ficers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 164.10 Td (Pension Fund \(registration number 10005645\) \(MNOPF\), which is divided into two sections, the New Section and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 152.10 Td (Old Section and the British Merchant Navy Ratings Pension Fund \(registration number 10005646\) \(MNRPF\). Collectively) Tj ET Q q 0 0 0 rg BT 558.44 152.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 140.10 Td (we refer to these as the multiemployer plans. ) Tj ET Q q 0 0 0 rg BT 240.58 140.10 Td (The multiemployer plans are maintained for the benefit of the employees of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.10 Td (participating employers who make contributions to the plans. However) Tj ET Q q 0 0 0 rg BT 333.70 128.10 Td (, contributions made by employers, including us, may be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 116.10 Td (used to provide benefits to employees of other participating employers, and if any of the participating employers withdraw ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 104.10 Td (from the multiemployer plans or fail to make their required contributions, any unfunded obligations would be the responsibility ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 92.10 Td (of the remaining participating employers. ) Tj ET Q q 0 0 0 rg BT 218.10 92.10 Td (W) Tj ET Q q 0 0 0 rg BT 226.74 92.10 Td (e are contractually obligated to make all required contributions as determined by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 80.10 Td (the plans) Tj ET Q q 0 0 0 rg BT 88.41 80.10 Td ( trustees. ) Tj ET Q q 0 0 0 rg BT 125.91 80.10 Td (All of our multiemployer plans are closed to new membership and future benefit accrual. ) Tj ET Q q 0 0 0 rg BT 484.22 80.10 Td (The MNOPF Old ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 68.10 Td (Section is fully funded.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.32 68.10 Td ( ) Tj ET Q endstream endobj 155 0 obj <>] /Rotate 0 /Contents 156 0 R>> endobj 156 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 742.10 Td (e expense our portion of the MNOPF New Section deficit as amounts are invoiced by) Tj ET Q q 0 0 0 rg BT 400.13 742.10 Td (, and become due and payable to, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (trustees. ) Tj ET Q q 0 0 0 rg BT 85.37 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.00 730.10 Td (e accrue and expense our portion of the MNRPF deficit based on our estimated probable obligation from the most ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (recent actuarial review) Tj ET Q q 0 0 0 rg BT 140.40 718.10 Td (. ) Tj ET Q q 0 0 0 rg BT 145.22 718.10 Td (T) Tj ET Q q 0 0 0 rg BT 150.63 718.10 Td (otal expense for all defined benefit pension plans, including the multiemployer plans, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.48 718.10 Td ($36 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.87 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.28 706.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.28 706.10 Td (, $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.28 706.10 Td (53 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.67 706.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.45 706.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.45 706.10 Td ( and $27 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.78 706.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.06 706.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.06 706.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.56 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Based on the most recent valuation at March31, 2015 of the MNOPF New Section, it was determined that this plan was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.24 682.10 Td (90%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.57 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (funded. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.60 670.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.60 670.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.60 670.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.60 670.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.04 670.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.04 670.10 Td (, our contributions to the MNOPF New Section did not exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.78 670.10 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.11 670.10 Td ( of total contributions to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (fund. Based on the most recent valuation at March31, 2017 of the MNRPF) Tj ET Q q 0 0 0 rg BT 350.54 658.10 Td (, it was determined that this plan was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.34 658.10 Td (84%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.67 658.10 Td ( funded. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (In 2018, 2017 and 2016 our contributions to the MNRPF did not exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.08 646.10 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.41 646.10 Td ( of total contributions to the fund. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.62 646.10 Td (It is possible that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (we will be required to fund and expense additional amounts for the multiemployer plans in the future; however) Tj ET Q q 0 0 0 rg BT 493.64 634.10 Td (, such amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (are not expected to be material to our consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.84 622.10 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (Defined Contribution Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 574.10 Td (e have several defined contribution plans available to most of our employees. ) Tj ET Q q 0 0 0 rg BT 370.30 574.10 Td (W) Tj ET Q q 0 0 0 rg BT 378.94 574.10 Td (e contribute to these plans based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (employee contributions, salary levels and length of service. ) Tj ET Q q 0 0 0 rg BT 289.75 562.10 Td (T) Tj ET Q q 0 0 0 rg BT 295.16 562.10 Td (otal expense for these plans was $39 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.12 562.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.40 562.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.40 562.10 Td (, $37 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.79 562.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.28 550.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.28 550.10 Td ( and $30 million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.89 550.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.89 550.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.39 550.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (NOTE 13 Earnings Per) Tj ET Q q 0 0 0 rg BT 157.05 526.10 Td ( Shar) Tj ET Q q 0 0 0 rg BT 179.93 526.10 Td (e) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 491.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 491.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 491.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 491.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 491.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 491.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 461.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 461.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 461.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 461.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 461.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 461.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 431.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 431.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 431.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 431.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 431.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 431.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 503.6 m 424.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 503.6 m 428.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 503.6 m 493.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 503.6 m 497.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 503.6 m 562.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 503.6 m 424.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 491.6 m 424.5 491.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 491.6 m 493.5 491.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 491.6 m 562.5 491.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 491.6 m 424.5 491.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 477.6 m 424.5 477.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 475.6 m 424.5 475.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 491.6 m 493.5 491.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 477.6 m 493.5 477.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 475.6 m 493.5 475.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 491.6 m 562.5 491.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 477.6 m 562.5 477.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 475.6 m 562.5 475.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 475.6 m 424.5 475.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 477.6 m 424.5 477.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 446.6 m 424.5 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 446.6 m 493.5 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 446.6 m 562.5 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 432.6 m 424.5 432.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 430.6 m 424.5 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 432.6 m 493.5 432.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 430.6 m 493.5 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 432.6 m 562.5 432.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 430.6 m 562.5 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 430.6 m 424.5 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 432.6 m 424.5 432.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 417.6 m 424.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 415.6 m 424.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 430.6 m 493.5 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 432.6 m 493.5 432.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 417.6 m 493.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 415.6 m 493.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 430.6 m 562.5 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 432.6 m 562.5 432.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 417.6 m 562.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 415.6 m 562.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 415.6 m 424.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 417.6 m 424.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 402.6 m 424.5 402.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 400.6 m 424.5 400.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 415.6 m 493.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 417.6 m 493.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 402.6 m 493.5 402.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 400.6 m 493.5 400.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 415.6 m 562.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 417.6 m 562.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 402.6 m 562.5 402.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 400.6 m 562.5 400.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 507.55 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.50 506.33 Td (Y) Tj ET Q q 0 0 0 rg BT 409.17 506.33 Td (ears Ended November) Tj ET Q q 0 0 0 rg BT 503.51 506.33 Td ( 30,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 53.00 494.21 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 55.00 494.21 Td (\(in millions, except per shar) Tj ET Q q 0 0 0 rg BT 167.11 494.21 Td (e data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.50 494.33 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.50 494.33 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.50 494.33 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 482.17 Td (Net income for basic and diluted earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 481.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 481.27 Td (3,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 481.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 481.27 Td (2,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 481.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 481.27 Td (2,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 467.17 Td (W) Tj ET Q q 0 0 0 rg BT 62.04 467.17 Td (eighted-average shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 466.27 Td (709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 466.27 Td (722) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 466.27 Td (745) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 452.17 Td (Dilutive ef) Tj ET Q q 0 0 0 rg BT 95.95 452.17 Td (fect of equity plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 451.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 451.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 451.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 437.17 Td (Diluted weighted-average shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 436.27 Td (710) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 436.27 Td (725) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 436.27 Td (747) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 422.17 Td (Basic earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 421.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 421.27 Td (4.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 421.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 421.27 Td (3.61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 421.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 421.27 Td (3.73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 406.27 Td (Diluted earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 406.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 406.27 Td (4.44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 406.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 406.27 Td (3.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 406.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 406.27 Td (3.72) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 378.10 Td (NOTE 14 Supplemental Cash Flow Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 354.10 Td (Cash paid for interest, net of capitalized interest, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.65 354.10 Td ($182) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.65 354.10 Td ( million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.82 354.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.82 354.10 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.32 354.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.82 354.10 Td ($191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.82 354.10 Td ( million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.99 354.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.99 354.10 Td ( and $21) Tj ET Q q 0 0 0 rg BT 472.06 354.10 Td (1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.56 354.10 Td (million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.23 354.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.23 354.10 Td (. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.10 Td (addition, cash paid for income taxes, net of recoveries, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.08 342.10 Td ($58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.08 342.10 Td ( million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.25 342.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.25 342.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.25 342.10 Td ($43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.25 342.10 Td ( million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.42 342.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.42 342.10 Td ( and $48 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.25 342.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.03 342.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.03 342.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.53 342.10 Td ( ) Tj ET Q endstream endobj 157 0 obj <>] /Rotate 0 /Contents 158 0 R>> endobj 158 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.05 730.10 Td (Report of Independent Register) Tj ET Q q 0 0 0 rg BT 316.13 730.10 Td (ed Public ) Tj ET Q q 0 0 0 rg BT 357.81 730.10 Td (Accounting Firm ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 706.10 Td (o the) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 0 0 rg BT 75.13 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 77.63 706.10 Td (Boards of Directors and Shareholders of Carnival Corporation and Carnival plc: ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Opinions on the Financial Statements and Internal Control over Financial Reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 658.10 Td (e have audited the accompanying consolidated balance sheets of Carnival Corporation& plc \(comprising Carnival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (Corporation and Carnival plc and their respective subsidiaries, the Company\) as of November 30, 2018 and 2017, and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (related consolidated statements of income, comprehensive income, shareholders) Tj ET Q q 0 0 0 rg BT 373.31 634.10 Td ( equity and cash flows for each of the three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (years in the period ended November 30, 2018, including the related notes \(collectively referred to as the consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (statements\). ) Tj ET Q q 0 0 0 rg BT 107.30 610.10 Td (W) Tj ET Q q 0 0 0 rg BT 115.94 610.10 Td (e also have audited the Company's internal control over financial reporting as of November 30, 2018, based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (criteria established in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 138.02 598.10 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 195.71 598.10 Td (ol - Integrated Framework) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 0 0 rg BT 302.63 598.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 305.13 598.10 Td (\(2013\)) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 0 0 rg BT 331.79 598.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 334.29 598.10 Td (issued by the Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 505.21 598.10 Td (ganizations of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.54 586.10 Td (T) Tj ET Q q 0 0 0 rg BT 70.29 586.10 Td (readway Commission \(COSO\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (In our opinion, the consolidated financial statements referred to above present fairly) Tj ET Q q 0 0 0 rg BT 385.34 562.10 Td (, in all material respects, the financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (position of the Company as of November 30, 2018 and 2017, and the results of their operations and their cash flows for each of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (the three years in the period ended November 30, 2018 in conformity with accounting principles generally accepted in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (United States of ) Tj ET Q q 0 0 0 rg BT 116.38 526.10 Td (America. ) Tj ET Q q 0 0 0 rg BT 157.75 526.10 Td (Also in our opinion, the Company maintained, in all material respects, ef) Tj ET Q q 0 0 0 rg BT 449.17 526.10 Td (fective internal control over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (financial reporting as of November 30, 2018, based on criteria established in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 358.79 514.10 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 416.48 514.10 Td (ol - Integrated Framework) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 0 0 rg BT 523.40 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 525.90 514.10 Td (\(2013\)) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 0 0 rg BT 552.56 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 50.00 502.10 Td (issued by the COSO. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (Basis for Opinions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (The Company's management is responsible for these consolidated financial statements, for maintaining ef) Tj ET Q q 0 0 0 rg BT 472.89 454.10 Td (fective internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (control over financial reporting, and for its assessment of the ef) Tj ET Q q 0 0 0 rg BT 303.35 442.10 Td (fectiveness of internal control over financial reporting, included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (in Management's ) Tj ET Q q 0 0 0 rg BT 120.12 430.10 Td (Annual Report on Internal Control over Financial Reporting appearing under Item9A. Our responsibility is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (to express opinions on the Company) Tj ET Q q 0 0 0 rg BT 198.60 418.10 Td (s consolidated financial statements and on the Company's internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (reporting based on our audits. ) Tj ET Q q 0 0 0 rg BT 173.96 406.10 Td (W) Tj ET Q q 0 0 0 rg BT 182.60 406.10 Td (e are a public accounting firm registered with the Public Company ) Tj ET Q q 0 0 0 rg BT 450.58 406.10 Td (Accounting Oversight ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (Board \(United States\) \(PCAOB\) and are required to be independent with respect to the Company in accordance with the U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 358.10 Td (e conducted our audits in accordance with the standards of the PCAOB. ) Tj ET Q q 0 0 0 rg BT 348.10 358.10 Td (Those standards require that we plan and perform the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (whether due to error or fraud, and whether ef) Tj ET Q q 0 0 0 rg BT 230.01 334.10 Td (fective internal control over financial reporting was maintained in all material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (respects. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (Our audits of the consolidated financial statements included performing procedures to assess the risks of material misstatement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (management, as well as evaluating the overall presentation of the consolidated financial statements. Our audit of internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (risk that a material weakness exists, and testing and evaluating the design and operating ef) Tj ET Q q 0 0 0 rg BT 411.10 226.10 Td (fectiveness of internal control based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (circumstances. ) Tj ET Q q 0 0 0 rg BT 111.46 202.10 Td (W) Tj ET Q q 0 0 0 rg BT 120.10 202.10 Td (e believe that our audits provide a reasonable basis for our opinions. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (Definition and Limitations of Internal Control over Financial Reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 154.10 Td ( company) Tj ET Q q 0 0 0 rg BT 98.60 154.10 Td (s internal control over financial reporting is a process designed to provide reasonable assurance regarding the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (accepted accounting principles. ) Tj ET Q q 0 0 0 rg BT 180.22 130.10 Td (A) Tj ET Q q 0 0 0 rg BT 186.89 130.10 Td ( company) Tj ET Q q 0 0 0 rg BT 228.83 130.10 Td (s internal control over financial reporting includes those policies and procedures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (that \(i\)pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (dispositions of the assets of the company; \(ii\)provide reasonable assurance that transactions are recorded as necessary to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (expenditures of the company are being made only in accordance with authorizations of management and directors of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (company; and \(iii\)provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (disposition of the company) Tj ET Q q 0 0 0 rg BT 161.38 58.10 Td (s assets that could have a material ef) Tj ET Q q 0 0 0 rg BT 306.97 58.10 Td (fect on the financial statements. ) Tj ET Q endstream endobj 159 0 obj <>] /Rotate 0 /Contents 160 0 R>> endobj 160 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. ) Tj ET Q q 0 0 0 rg BT 520.70 742.10 Td (Also, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (projections of any evaluation of ef) Tj ET Q q 0 0 0 rg BT 187.27 730.10 Td (fectiveness to future periods are subject to the risk that controls may become inadequate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 692.7669921875 m 181.26953125 692.7669921875 l s q 0 0 0 rg BT 50.00 694.10 Td (/s/PricewaterhouseCoopers LLP) Tj ET Q q 0 0 0 rg BT 178.77 694.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Miami, Florida ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (January28, 2019) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 640.10 Td (e have served as the Company) Tj ET Q q 0 0 0 rg BT 182.76 640.10 Td (s auditors since 2003. Prior to that, we served as Carnival Corporation) Tj ET Q q 0 0 0 rg BT 466.32 640.10 Td (s auditors since at least ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (1986.) Tj ET Q q 0 0 0 rg BT 74.82 628.10 Td (W) Tj ET Q q 0 0 0 rg BT 83.46 628.10 Td (e have not been able to determine the specific year we began serving as auditor of Carnival Corporation. ) Tj ET Q endstream endobj 161 0 obj <>] /Rotate 0 /Contents 162 0 R>> endobj 162 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 742.25 Td (MANAGEMENTS DISCUSSION ) Tj ET Q q 0 0 0 rg BT 177.02 742.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 200.64 742.25 Td (ANAL) Tj ET Q q 0 0 0 rg BT 228.05 742.25 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 266.31 742.25 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 324.92 742.25 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 388.27 742.25 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 444.86 742.25 Td (TS OF) Tj ET Q q 0 0 0 rg BT 473.11 742.25 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 509.87 742.25 Td (TIONS ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 718.25 Td (Cautionary Note Concerning Factors ) Tj ET Q q 0 0 0 rg BT 187.91 718.25 Td (That May ) Tj ET Q q 0 0 0 rg BT 232.36 718.25 Td (Affect Futur) Tj ET Q q 0 0 0 rg BT 285.76 718.25 Td (e Results) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 694.25 Td (Some of the statements, estimates or projections contained in this document are forward-looking statements that involve risks, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 682.25 Td (uncertainties and assumptions with respect to us, including some statements concerning future results, outlooks, plans, goals and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 670.25 Td (other events which have not yet occurred. ) Tj ET Q q 0 0 0 rg BT 196.20 670.25 Td (These statements are intended to qualify for the safe harbors from liability provided by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 658.25 Td (Section 27A) Tj ET Q q 0 0 0 rg BT 76.17 658.25 Td ( of the Securities ) Tj ET Q q 0 0 0 rg BT 145.59 658.25 Td (Act of 1933 and Section 21E of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 372.76 658.25 Td (Act of 1934. ) Tj ET Q q 0 0 0 rg BT 424.97 658.25 Td (All statements other than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 646.25 Td (statements of historical facts are statements that could be deemed forward-looking. ) Tj ET Q q 0 0 0 rg BT 361.15 646.25 Td (These statements are based on current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 634.25 Td (expectations, estimates, forecasts and projections about our business and the industry in which we operate and the beliefs and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 622.25 Td (assumptions of our management. ) Tj ET Q q 0 0 0 rg BT 161.52 622.25 Td (W) Tj ET Q q 0 0 0 rg BT 170.15 622.25 Td (e have tried, whenever possible, to identify these statements by using words like will, may) Tj ET Q q 0 0 0 rg BT 544.13 622.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 610.25 Td (could, should, would, believe, depends, expect, goal, anticipate, forecast, project, future, intend, plan, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 598.25 Td (estimate, tar) Tj ET Q q 0 0 0 rg BT 89.00 598.25 Td (get, indicate, outlook, and similar expressions of future intent or the negative of such terms.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.77 598.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 574.25 Td (Forward-looking statements include those statements that relate to our outlook and financial position including, but not limited to, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 562.25 Td (statements regarding: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.31 562.25 Td ( ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 48.00 540.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.20 540.93 Td ( ) Tj ET Q q 0 0 0 rg BT 66.00 540.93 Td (Net revenue yields) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 279.00 540.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.20 540.93 Td ( ) Tj ET Q q 0 0 0 rg BT 297.00 540.93 Td (Net cruise costs, excluding fuel per available lower berth day) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 48.00 524.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.20 524.93 Td ( ) Tj ET Q q 0 0 0 rg BT 66.00 524.93 Td (Booking levels) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 279.00 524.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.20 524.93 Td ( ) Tj ET Q q 0 0 0 rg BT 297.00 524.93 Td (Estimates of ship depreciable lives and residual values) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 48.00 508.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.20 508.93 Td ( ) Tj ET Q q 0 0 0 rg BT 66.00 508.93 Td (Pricing and occupancy) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 279.00 508.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.20 508.93 Td ( ) Tj ET Q q 0 0 0 rg BT 297.00 508.93 Td (Goodwill, ship and trademark fair values) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 48.00 492.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.20 492.93 Td ( ) Tj ET Q q 0 0 0 rg BT 66.00 492.93 Td (Interest, tax and fuel expenses) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 279.00 492.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.20 492.93 Td ( ) Tj ET Q q 0 0 0 rg BT 297.00 492.93 Td (Liquidity) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 48.00 476.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.20 476.93 Td ( ) Tj ET Q q 0 0 0 rg BT 66.00 476.93 Td (Currency exchange rates) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 279.00 476.93 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.20 476.93 Td ( ) Tj ET Q q 0 0 0 rg BT 297.00 476.93 Td (Adjusted earnings per share) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 448.25 Td (Because forward-looking statements involve risks and uncertainties, there are many factors that could cause our actual results, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 436.25 Td (performance or achievements to dif) Tj ET Q q 0 0 0 rg BT 168.98 436.25 Td (fer materially from those expressed or implied) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.47 436.25 Td ( by our forward looking statements. ) Tj ET Q q 0 0 0 rg BT 499.54 436.25 Td (This note ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 424.25 Td (contains important cautionary statements of the known factors that we consider could materially af) Tj ET Q q 0 0 0 rg BT 421.97 424.25 Td (fect the accuracy of our forward-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 412.25 Td (looking statements and adversely af) Tj ET Q q 0 0 0 rg BT 170.11 412.25 Td (fect our business, results of operations and financial position. It is not possible to predict or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 400.25 Td (identify all such risks. ) Tj ET Q q 0 0 0 rg BT 117.64 400.25 Td (There may be additional risks that we consider immaterial or which are unknown.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.04 400.25 Td ( ) Tj ET Q q 0 0 0 rg BT 447.36 400.25 Td (These factors include, but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 388.25 Td (are not limited to, the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 361.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 361.85 Td (Adverse world events impacting the ability or desire of people to travel may lead to a decline in demand for cruises) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 347.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 347.45 Td (Incidents concerning our ships, guests or the cruise vacation industry as well as adverse weather conditions and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 333.05 Td (natural disasters may impact the satisfaction of our guests and crew and lead to reputational damage) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 318.65 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 318.65 Td (Changes in and non-compliance with laws and regulations under which we operate, such as those relating to health, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 304.25 Td (environment, safety and security) Tj ET Q q 0 0 0 rg BT 192.86 304.25 Td (, data privacy and protection, anti-corruption, economic sanctions, trade protection and tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 289.85 Td (may lead to litigation, enforcement actions, fines, penalties, and reputational damage) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 275.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 275.45 Td (Breaches in data security and lapses in data privacy as well as disruptions and other damages to our principal of) Tj ET Q q 0 0 0 rg BT 509.63 275.45 Td (fices, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 261.05 Td (information technology operations and system networks and failure to keep pace with developments in technology may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 246.65 Td (adversely impact our business operations, the satisfaction of our guests and crew and lead to reputational damage) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.92 246.65 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.92 246.65 Td ( ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 232.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 232.25 Td (Ability to recruit, develop and retain qualified shipboard personnel who live away from home for extended periods of time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 217.85 Td (may adversely impact our business operations, guest services and satisfaction) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 203.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 203.45 Td (Increases in fuel prices and availability of fuel supply may adversely impact our scheduled itineraries and costs ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 189.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 189.05 Td (Fluctuations in foreign currency exchange rates may adversely impact our financial results ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 174.65 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 174.65 Td (Overcapacity and competition in the cruise and land-based vacation industry may lead to a decline in our cruise sales and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 160.25 Td (pricing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.83 160.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 145.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 145.85 Td (Geographic regions in which we try to expand our business may be slow to develop or ultimately not develop how we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 131.45 Td (expect ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 117.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 117.05 Td (Inability to implement our shipbuilding programs and ship repairs, maintenance and refurbishments may adversely impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 102.65 Td (our business operations and the satisfaction of our guests) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 78.65 Td (The ordering of the risk factors set forth above is not intended to reflect our indication of priority or likelihood.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.32 78.65 Td ( ) Tj ET Q endstream endobj 163 0 obj <>] /Rotate 0 /Contents 164 0 R>> endobj 164 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 742.10 Td (Forward-looking statements should not be relied upon as a prediction of actual results. Subject to any continuing obligations under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 730.10 Td (applicable law or any relevant stock exchange rules, we expressly disclaim any obligation to disseminate, after the date of this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 718.10 Td (document) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.43 718.10 Td (, any updates or revisions to any such forward-looking statements to reflect any change in expectations or events, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 706.10 Td (conditions or circumstances on which any such statements are based.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 682.10 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 47.00 682.10 Td ( Executive Overview ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 137.25 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 658.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.00 658.10 Td ( marked another strong financial performance, achieving double-digit ROIC and the highest full year earnings in the company) Tj ET Q q 0 0 0 rg BT 554.06 658.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 646.10 Td (history) Tj ET Q q 0 0 0 rg BT 54.13 646.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.13 646.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 622.10 Td (Key information for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.03 622.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.03 622.10 Td ( compared to the prior year \(see Key Performance Non-GAAP) Tj ET Q q 0 0 0 rg BT 384.29 622.10 Td ( Financial Indicators for definitions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 610.10 Td (reconciliations\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.98 610.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 586.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 586.10 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.37 586.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.87 586.10 Td (increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.13 586.10 Td (21%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.46 586.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.23 586.10 Td ($3.2 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.35 586.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.79 586.10 Td ($2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.29 586.10 Td ( billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.68 586.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.68 586.10 Td ( and diluted earnings per share increased to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.17 586.10 Td ($4.44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.67 586.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 574.10 Td ($3.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 574.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.28 574.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.28 574.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.78 574.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 562.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 562.10 Td (Adjusted net income increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.51 562.10 Td (9.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.34 562.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.12 562.10 Td ($3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.62 562.10 Td ( billion from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.67 562.10 Td ($2.8 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.79 562.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.56 562.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.56 562.10 Td ( and adjusted diluted earnings per share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 550.10 Td (increased to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.53 550.10 Td ($4.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.03 550.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.47 550.10 Td ($3.82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.97 550.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.75 550.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.75 550.10 Td (. ) Tj ET Q q 0 0 0 rg BT 220.20 550.10 Td (Adjusted net income excludes for the full year 2018 unrealized gains and losses on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 538.10 Td (fuel derivatives and other net gains, totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.28 538.10 Td ($123) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.28 538.10 Td ( million in net gains and for the full year 2017 unrealized gains and losses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 526.10 Td (on fuel derivatives of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.25 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.75 526.10 Td ($227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.75 526.10 Td ( million in net gains and impairments and other net char) Tj ET Q q 0 0 0 rg BT 394.40 526.10 Td (ges of $390 million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.95 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 514.10 Td (Revenues increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.63 514.10 Td ($1.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.13 514.10 Td ( billion to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.52 514.10 Td ($18.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.02 514.10 Td ( billion from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.07 514.10 Td ($17.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.57 514.10 Td ( billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.97 514.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.97 514.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 502.10 Td (Gross cruise revenues increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.50 502.10 Td (7.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.33 502.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.11 502.10 Td ($18.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.22 502.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.66 502.10 Td ($17.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.78 502.10 Td ( in 2017. In constant currency) Tj ET Q q 0 0 0 rg BT 472.54 502.10 Td (, net cruise revenues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 490.10 Td (increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.25 490.10 Td (5.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.08 490.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.86 490.10 Td ($15.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.36 490.10 Td ( billion from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.41 490.10 Td ($14.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.53 490.10 Td ( in 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 478.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 478.10 Td (Gross revenue yields increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.62 478.10 Td (5.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.45 478.10 Td (. In constant currency) Tj ET Q q 0 0 0 rg BT 296.43 478.10 Td (, net revenue yields increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.94 478.10 Td (3.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.77 478.10 Td (, comprised of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.69 478.10 Td (3.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.52 478.10 Td ( increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 466.10 Td (in net passenger ticket revenue yields and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.04 466.10 Td (5.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.88 466.10 Td ( increase in net onboard and other revenue yields.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.41 466.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 454.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 454.10 Td (Gross cruise costs including fuel per ) Tj ET Q q 0 0 0 rg BT 210.75 454.10 Td (ALBD increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.72 454.10 Td (3.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.55 454.10 Td (. Net cruise costs excluding fuel per ) Tj ET Q q 0 0 0 rg BT 447.07 454.10 Td (ALBD in constant currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 442.10 Td (increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.25 442.10 Td (1.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.08 442.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.58 442.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 430.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 430.10 Td (Changes in fuel prices \(including realized fuel derivatives\) and currency exchange rates decreased earnings by $0.21 per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 418.10 Td (share. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.10 418.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 394.10 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 394.10 Td (e achieved double-digit ROIC and the highest full year earnings in our company) Tj ET Q q 0 0 0 rg BT 359.44 394.10 Td (s history) Tj ET Q q 0 0 0 rg BT 392.96 394.10 Td (, our fifth consecutive year of adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 382.10 Td (earnings growth and third consecutive record year) Tj ET Q q 0 0 0 rg BT 226.93 382.10 Td (. Our 120,000 team members went above and beyond to deliver a more than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 370.10 Td (doubling in ROIC and near tripling of adjusted earnings per share, in just five years, by executing on our strategy to create demand in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 358.10 Td (excess of measured capacity growth while leveraging our industry leading scale, despite numerous headwinds. ) Tj ET Q q 0 0 0 rg BT 471.68 358.10 Td (Their ef) Tj ET Q q 0 0 0 rg BT 503.43 358.10 Td (forts, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 346.10 Td (combined with the strong support of our valued travel agent partners, enabled our record breaking results. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.42 346.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 322.10 Td (While the journey over the last five years to sustained double-digit ROIC was built on the foundation of exceeding guest expectations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 310.10 Td (every single day) Tj ET Q q 0 0 0 rg BT 91.88 310.10 Td (, we had many other contributions that helped pave the way) Tj ET Q q 0 0 0 rg BT 329.77 310.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.77 310.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 286.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 286.10 Td (Our proactive public relations ef) Tj ET Q q 0 0 0 rg BT 192.77 286.10 Td (fort to increase understanding and reduce misconceptions has clearly had a positive impact. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 274.10 Td (The absolute number of positive media mentions are multiples of what they were five years ago and our brands consistently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 262.10 Td (capture over 75 percent of all positive media in our industry) Tj ET Q q 0 0 0 rg BT 302.28 262.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.28 262.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 238.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 238.10 Td (Our brands marketing ef) Tj ET Q q 0 0 0 rg BT 160.84 238.10 Td (forts have shared the spotlight with many well-known personalities who brought with them a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 226.10 Td (greater audience of potential new-to-cruise to our respective brands, including Oprah ) Tj ET Q q 0 0 0 rg BT 405.47 226.10 Td (W) Tj ET Q q 0 0 0 rg BT 414.50 226.10 Td (infrey for Holland ) Tj ET Q q 0 0 0 rg BT 489.21 226.10 Td (America Line, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 214.10 Td (Shaquille ONeal for Carnival Cruise Line, Shakira for Costa, and Her Majesty the Queen for P&O Cruises \(UK\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.50 214.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 190.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 190.10 Td (Our brands were featured on television programs all around the world including ) Tj ET Q q 0 0 0 rg BT 384.95 190.10 Td (The New Celebrity ) Tj ET Q q 0 0 0 rg BT 463.54 190.10 Td (Apprentice, ) Tj ET Q q 0 0 0 rg BT 512.78 190.10 Td (The Ellen ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 178.10 Td (DeGeneres Show) Tj ET Q q 0 0 0 rg BT 132.05 178.10 Td (, ITV) Tj ET Q q 0 0 0 rg BT 153.53 178.10 Td ( reality show) Tj ET Q q 0 0 0 rg BT 204.54 178.10 Td (, ) Tj ET Q q 0 0 0 rg BT 209.36 178.10 Td (The Cruise, in its 6) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 285.74 182.63 Td (th) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.79 178.10 Td ( season in the UK, and ) Tj ET Q q 0 0 0 rg BT 383.28 178.10 Td (Ant & Dec, also in the UK. ) Tj ET Q q 0 0 0 rg BT 495.02 178.10 Td (W) Tj ET Q q 0 0 0 rg BT 503.66 178.10 Td (e created our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 166.10 Td (own original content ) Tj ET Q q 0 0 0 rg BT 148.08 166.10 Td (TV) Tj ET Q q 0 0 0 rg BT 161.23 166.10 Td ( programs which have already reached more than 400 million views airing on major U.S. networks. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 154.10 Td (Our proprietary shows, which include the ) Tj ET Q q 0 0 0 rg BT 231.39 154.10 Td (V) Tj ET Q q 0 0 0 rg BT 237.32 154.10 Td (oyager with Josh Garcia, Ocean ) Tj ET Q q 0 0 0 rg BT 367.09 154.10 Td (T) Tj ET Q q 0 0 0 rg BT 372.85 154.10 Td (reks with Jef) Tj ET Q q 0 0 0 rg BT 423.77 154.10 Td (f Corwin, ) Tj ET Q q 0 0 0 rg BT 464.42 154.10 Td (V) Tj ET Q q 0 0 0 rg BT 470.53 154.10 Td (acation Creation, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 142.10 Td (La Gran Sorpresa, are among the most popular travel series on ) Tj ET Q q 0 0 0 rg BT 315.51 142.10 Td (TV) Tj ET Q q 0 0 0 rg BT 327.56 142.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.06 142.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 118.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 118.10 Td (W) Tj ET Q q 0 0 0 rg BT 72.04 118.10 Td (ith our history making voyage to Cuba in 2016, we became the first U.S. cruise operator in over 40 years to bring U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 106.10 Td (cruise guests directly from the U.S. to Cuba, and opened up an exciting new destination option for guests of Carnival Cruise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 94.10 Td (Line, Holland ) Tj ET Q q 0 0 0 rg BT 120.49 94.10 Td (America Line and Seabourn. Our cruise brands continue to further the guest experience through new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 82.10 Td (destinations like Cuba and ) Tj ET Q q 0 0 0 rg BT 170.76 82.10 Td (Amber Cove and new terminals like Barcelona and Dubai.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.86 82.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 58.10 Td (Our ongoing fleet replenishment ef) Tj ET Q q 0 0 0 rg BT 167.33 58.10 Td (forts are central to our strategy to create demand in excess of measured capacity growth. Over the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 46.10 Td (last five years, we welcomed 12 state-of-the-art, lar) Tj ET Q q 0 0 0 rg BT 232.56 46.10 Td (ger) Tj ET Q q 0 0 0 rg BT 244.93 46.10 Td (, more ef) Tj ET Q q 0 0 0 rg BT 280.56 46.10 Td (ficient vessels and exited nine less ef) Tj ET Q q 0 0 0 rg BT 428.11 46.10 Td (ficient ships from our fleet, ) Tj ET Q endstream endobj 165 0 obj <>] /Rotate 0 /Contents 166 0 R>> endobj 166 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 742.10 Td (building a more return resilient fleet. ) Tj ET Q q 0 0 0 rg BT 176.49 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 185.13 742.10 Td (e leveraged our scale to reduce costs, achieving cumulative savings of over $350 million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 730.10 Td (just five years. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.09 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 706.10 Td (e also created many innovations and made other investments along the way) Tj ET Q q 0 0 0 rg BT 336.29 706.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.29 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 682.10 Td (OceanMedallion debuted onboard ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 201.56 682.10 Td (Caribbean Princess) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.28 682.10 Td ( and has received 36 billion favorable media impressions. ) Tj ET Q q 0 0 0 rg BT 513.81 682.10 Td (W) Tj ET Q q 0 0 0 rg BT 522.45 682.10 Td (e have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 670.10 Td (been recognized globally for our innovation ef) Tj ET Q q 0 0 0 rg BT 248.86 670.10 Td (forts, including being recognized by Fast Company as one of the ) Tj ET Q q 0 0 0 rg BT 509.74 670.10 Td (T) Tj ET Q q 0 0 0 rg BT 515.15 670.10 Td (op ) Tj ET Q q 0 0 0 rg BT 527.47 670.10 Td (T) Tj ET Q q 0 0 0 rg BT 532.88 670.10 Td (en ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 658.10 Td (Most Innovative Companies in the travel category) Tj ET Q q 0 0 0 rg BT 262.85 658.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.85 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 634.10 Td (Our state-of-the-art revenue management tool has been deployed across half the company to facilitate further yield growth.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.31 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 610.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 610.10 Td (Across many of our brands, we are in the process of rolling out new technology both onboard and shoreside. ) Tj ET Q q 0 0 0 rg BT 499.10 610.10 Td (This includes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 598.10 Td (enhanced tar) Tj ET Q q 0 0 0 rg BT 113.62 598.10 Td (geted marketing, improved CRM capabilities, new mobile apps and redesigned websites, which collectively ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 586.10 Td (contribute to an enhanced guest experience, added empowerment to our travel agent partners, increased revenues and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 574.10 Td (reduced cost of sales. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.52 574.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 550.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 550.10 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 550.10 Td (e underwent multibillion dollar fleet wide reinvestment ef) Tj ET Q q 0 0 0 rg BT 302.78 550.10 Td (forts, including Funship 2.0 for Carnival Cruise Line and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 538.10 Td (Signature of Excellence for Holland ) Tj ET Q q 0 0 0 rg BT 209.34 538.10 Td (America Line.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.09 538.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 514.10 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 514.10 Td (e signed a historic joint venture agreement with CSSC, China State Shipbuilding Corporation, forming a local cruise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 502.10 Td (operating company and for) Tj ET Q q 0 0 0 rg BT 170.84 502.10 Td (ging a significant long-term relationship to help build the cruise industry in China. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.00 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 478.10 Td (Over the past five years, we also had many notable achievements in our sustainability ef) Tj ET Q q 0 0 0 rg BT 379.76 478.10 Td (forts including the opening of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 466.10 Td (significantly expanded ) Tj ET Q q 0 0 0 rg BT 119.75 466.10 Td (Arison Maritime Center in the Netherlands, delivering state of the art maritime training through cutting-edge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 454.10 Td (bridge and engine room simulators and curriculum. ) Tj ET Q q 0 0 0 rg BT 234.54 454.10 Td (W) Tj ET Q q 0 0 0 rg BT 243.18 454.10 Td (e also opened three state-of-the-art Fleet Operations Centers around the globe ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 442.10 Td (to provide real time support, ship to shore. On the environmental front, we exceeded our tar) Tj ET Q q 0 0 0 rg BT 393.38 442.10 Td (get unit fuel consumption reduction of 25 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 430.10 Td (percent, three years ahead of schedule. ) Tj ET Q q 0 0 0 rg BT 183.96 430.10 Td (W) Tj ET Q q 0 0 0 rg BT 192.60 430.10 Td (e are fully committed to continuous improvement in health, environment, safety and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 418.10 Td (security) Tj ET Q q 0 0 0 rg BT 58.01 418.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.51 418.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 394.10 Td (Our strong and growing cash from operations, which reached $5.5 billion in 2018, allows us to internally fund our capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 382.10 Td (improvements, debt maturities and dividend payments. In addition, we have $1) Tj ET Q q 0 0 0 rg BT 342.95 382.10 Td (1.5 billion of committed export credit facilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 370.10 Td (available at attractive rates to fund the vast majority of our new ship growth capital. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.67 370.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 346.10 Td (Going forward, our fleet replenishment ef) Tj ET Q q 0 0 0 rg BT 193.98 346.10 Td (forts are purposely designed to achieve greater economies. Over the next five years, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 334.10 Td (expect net capacity growth of approximately five percent compounded annually) Tj ET Q q 0 0 0 rg BT 345.95 334.10 Td (. ) Tj ET Q q 0 0 0 rg BT 350.77 334.10 Td (The higher rate of capacity growth will enable us to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 322.10 Td (better contain costs, leaving us less reliant on revenue yield growth to produce double-digit earnings growth over time. ) Tj ET Q q 0 0 0 rg BT 504.47 322.10 Td (This, in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 310.10 Td (combination with our strategy of creating demand in excess of measured capacity growth, will allow us to continue to grow our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 298.10 Td (earnings and to deliver sustainable and growing double-digit ROIC over time.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.88 298.10 Td ( ) Tj ET Q endstream endobj 167 0 obj <>] /Rotate 0 /Contents 168 0 R>> endobj 168 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-32) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 27.00 730.25 Td (New ) Tj ET Q q 0 0 0 rg BT 47.46 730.25 Td (Accounting Pronouncements) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 167.76 730.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 706.25 Td (Refer to our consolidated financial statements for further information on ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 319.13 706.25 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 376.80 706.25 Td (onouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.01 706.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.01 706.25 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 27.00 682.25 Td (Critical ) Tj ET Q q 0 0 0 rg BT 60.24 682.25 Td (Accounting Estimates ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 153.04 682.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 658.25 Td (Our critical accounting estimates are those we believe require our most significant judgments about the ef) Tj ET Q q 0 0 0 rg BT 449.73 658.25 Td (fect of matters that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 646.25 Td (inherently uncertain.) Tj ET Q q 0 0 0 rg BT 111.69 646.25 Td (A) Tj ET Q q 0 0 0 rg BT 118.36 646.25 Td ( discussion of our critical accounting estimates, the underlying judgments and uncertainties used to make them ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 634.25 Td (and the likelihood that materially dif) Tj ET Q q 0 0 0 rg BT 173.17 634.25 Td (ferent estimates would be reported under dif) Tj ET Q q 0 0 0 rg BT 350.14 634.25 Td (ferent conditions or using dif) Tj ET Q q 0 0 0 rg BT 466.05 634.25 Td (ferent assumptions is as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 622.25 Td (follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.78 622.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 598.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 598.25 Td (Ship ) Tj ET Q q 0 0 0 rg BT 84.41 598.25 Td (Accounting) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 133.30 598.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 574.25 Td (Our most significant assets are our ships, including ship improvements and ships under construction, which represent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.58 574.25 Td (78%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.91 574.25 Td ( of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 562.25 Td (total assets at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.82 562.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.53 562.25 Td (. ) Tj ET Q q 0 0 0 rg BT 167.35 562.25 Td (W) Tj ET Q q 0 0 0 rg BT 175.98 562.25 Td (e make several critical accounting estimates with respect to our ship accounting.First, in order ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 550.25 Td (to compute our ships) Tj ET Q q 0 0 0 rg BT 113.19 550.25 Td ( depreciation expense, which represented 1) Tj ET Q q 0 0 0 rg BT 284.97 550.25 Td (1% of our cruise costs and expenses in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 550.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 550.25 Td (, we have to estimate the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 538.25 Td (useful life of each of our ships as well as their residual values.Secondly) Tj ET Q q 0 0 0 rg BT 314.60 538.25 Td (, we account for ship improvement costs by capitalizing those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 526.25 Td (costs we believe add value to our ships and have a useful life greater than one year and depreciate those improvements over its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 514.25 Td (estimated remaining useful life. ) Tj ET Q q 0 0 0 rg BT 155.95 514.25 Td (The costs of repairs and maintenance, including minor improvement costs and dry-dock expenses, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 502.25 Td (are char) Tj ET Q q 0 0 0 rg BT 58.73 502.25 Td (ged to expense as incurred.) Tj ET Q q 0 0 0 rg BT 169.62 502.25 Td (When we record the retirement of a ship component included within the ship) Tj ET Q q 0 0 0 rg BT 479.53 502.25 Td (s cost basis, we may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 490.25 Td (have to estimate the net book value of the asset being retired in order to remove it from the ship) Tj ET Q q 0 0 0 rg BT 412.16 490.25 Td (s cost basis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.66 490.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 466.25 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 466.25 Td (e determine the useful life of our ships and ship improvements based on our estimates of the period over which the assets will be of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 454.25 Td (economic benefit to us, including the impact of long-term vacation market conditions, marketing and technical obsolescence, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 442.25 Td (competition, physical deterioration, historical useful lives of similarly-built ships, regulatory constraints and maintenance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 430.25 Td (requirements.In addition, we consider estimates of the weighted-average useful lives of the ships) Tj ET Q q 0 0 0 rg BT 419.19 430.25 Td ( major component systems, such as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 418.25 Td (the hull, cabins, main electric, superstructure and engines.) Tj ET Q q 0 0 0 rg BT 261.18 418.25 Td (T) Tj ET Q q 0 0 0 rg BT 266.59 418.25 Td (aking all of this into consideration, we have estimated our new ships) Tj ET Q q 0 0 0 rg BT 543.01 418.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 406.25 Td (useful lives at 30 years.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.14 406.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 382.25 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 382.25 Td (e determine the residual value of our ships based on our long-term estimates of their resale value at the end of their useful life to us ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 370.25 Td (but before the end of their physical and economic lives to others, historical resale values of our and other cruise ships and viability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 358.25 Td (the secondary cruise ship market. ) Tj ET Q q 0 0 0 rg BT 162.88 358.25 Td (W) Tj ET Q q 0 0 0 rg BT 171.52 358.25 Td (e have estimated our residual values at 15% of our original ship cost.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.28 358.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 334.25 Td (Given the lar) Tj ET Q q 0 0 0 rg BT 79.02 334.25 Td (ge size and complexity of our ships, ship accounting estimates require considerable judgment and are inherently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 322.25 Td (uncertain.) Tj ET Q q 0 0 0 rg BT 69.02 322.25 Td (W) Tj ET Q q 0 0 0 rg BT 77.66 322.25 Td (e do not have cost segregation studies performed to specifically componentize our ships.In addition, since we do not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 310.25 Td (separately componentize our ships, we do not identify and track depreciation of original ship components.) Tj ET Q q 0 0 0 rg BT 453.65 310.25 Td (Therefore, we typically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 298.25 Td (have to estimate the net book value of components that are retired, based primarily upon their replacement cost, their age and their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 286.25 Td (original estimated useful lives.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.75 286.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 262.25 Td (If materially dif) Tj ET Q q 0 0 0 rg BT 90.13 262.25 Td (ferent conditions existed, or if we materially changed our assumptions of ship useful lives and residual values, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 250.25 Td (depreciation expense, loss on retirement of ship components and net book value of our ships would be materially dif) Tj ET Q q 0 0 0 rg BT 492.54 250.25 Td (ferent.In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 238.25 Td (addition, if we change our assumptions in making our determinations as to whether improvements to a ship add value, the amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 226.25 Td (we expense each year as repair and maintenance expense could increase, which would be partially of) Tj ET Q q 0 0 0 rg BT 430.53 226.25 Td (fset by a decrease in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 214.25 Td (depreciation expense, resulting from a reduction in capitalized costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.35 214.25 Td (Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.90 214.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.90 214.25 Td ( ship depreciation expense would have increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 202.25 Td (approximately $42 million assuming we had reduced our estimated 30-year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.86 202.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.36 202.25 Td (ship useful life estimate by one year at the time we took ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 190.25 Td (delivery or acquired each of our ships.In addition, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.49 190.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.49 190.25 Td ( ship depreciation expense would have increased by approximately $213 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 178.25 Td (million assuming we had estimated our ships to have no residual value at the time of their delivery or acquisition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.78 178.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 154.25 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 154.25 Td (e believe that the estimates we made for ship accounting purposes are reasonable and our methods are consistently applied in all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 142.25 Td (material respects and result in depreciation expense that is based on a rational and systematic method to equitably allocate the costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 130.25 Td (of our ships to the periods during which we use them.In addition, we believe that the estimates we made are reasonable. ) Tj ET Q q 0 0 0 rg BT 510.84 130.25 Td (W) Tj ET Q q 0 0 0 rg BT 519.48 130.25 Td (e applied ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 118.25 Td (our methods consistently in determining \(1\) the useful life and residual values of our ships, including ship improvements; \(2\) which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 106.25 Td (improvement costs add value to our ships and \(3\) the net book value of ship component assets being retired.Finally) Tj ET Q q 0 0 0 rg BT 489.03 106.25 Td (, we believe our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 94.25 Td (critical ship accounting estimates are generally comparable with those of other major cruise companies. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.00 94.25 Td ( ) Tj ET Q endstream endobj 169 0 obj <>] /Rotate 0 /Contents 170 0 R>> endobj 170 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 742.25 Td (Asset Impairments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 143.83 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 718.25 Td (Impairment reviews of our cruise ships, goodwill and trademarks require us to make significant estimates to determine the fair values ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 706.25 Td (of these assets and reporting units.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.25 706.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 682.25 Td (For our cruise ships, we perform our impairment reviews, if required, at the individual cruise ship level, which is the lowest level for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 670.25 Td (which we have identifiable cash flows independent of the cash flows of other assets and liabilities. Refer to our consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 658.25 Td (statements for additional discussion of ship impairment reviews.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 634.25 Td (The determination of ship fair value includes numerous assumptions that are subject to various risks and uncertainties, unless a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 622.25 Td (comparable, viable actively-traded market exists, which is usually not the case for cruise ships, cruise brands and trademarks. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 610.25 Td (ships) Tj ET Q q 0 0 0 rg BT 50.15 610.25 Td ( fair values are typically estimated based either on ship sales price negotiations or discounted future cash flows.) Tj ET Q q 0 0 0 rg BT 498.44 610.25 Td (The principal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 598.25 Td (assumptions used to calculate our discounted future cash flows include forecasted future operating results over the expected period. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 586.25 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 586.25 Td (e believe the ships, including their estimated residual values, will have economic benefit to us. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.09 586.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 562.25 Td (As of July 31, 2018, we performed our annual goodwill and trademark impairment reviews. Refer to our consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 550.25 Td (statements for additional discussion of our goodwill and trademark impairment reviews. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.92 550.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 526.25 Td (The determination of our reporting unit goodwill and trademark fair values includes numerous assumptions that are subject to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.92 526.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 514.25 Td (various risks and uncertainties. ) Tj ET Q q 0 0 0 rg BT 153.18 514.25 Td (The principal assumptions, all of which are considered Level 3 inputs, used in our cash flow) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.25 514.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 502.25 Td (analyses consisted of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.20 502.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 478.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 478.25 Td (Forecasted operating results, including net revenue yields and net cruise costs including fuel prices) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.44 478.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 466.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 466.25 Td (Capacity changes and the expected rotation of vessels into or out of each of these cruise brands, including decisions about ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 454.25 Td (the allocation of new ships amongst brands, the transfer of ships between brands and the timing of ship dispositions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.42 454.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 442.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 442.25 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 442.25 Td (eighted-average cost of capital of market participants, adjusted for the risk attributable to the geographic regions in which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 430.25 Td (these cruise brands operate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.01 430.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 418.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 418.25 Td (Capital expenditures, proceeds from forecasted dispositions of ships and terminal values) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.52 418.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 394.25 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 394.25 Td (e believe that we have made reasonable estimates and judgments. Changes in the conditions or circumstances may result in a need ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 382.25 Td (to recognize an additional impairment char) Tj ET Q q 0 0 0 rg BT 198.69 382.25 Td (ge.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.63 382.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 358.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 358.25 Td (Contingencies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 123.00 358.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 334.25 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 334.25 Td (e periodically assess the potential liabilities related to any lawsuits or claims brought against us, as well as for other known ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 322.25 Td (unasserted claims, including environmental, legal, regulatory) Tj ET Q q 0 0 0 rg BT 270.72 322.25 Td (, guest and crew and tax matters.In addition, we periodically assess the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 310.25 Td (recoverability of our trade and other receivables and our charter) Tj ET Q q 0 0 0 rg BT 281.95 310.25 Td (-hire and other counterparty credit exposures, by financial and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 298.25 Td (institutions with which we conduct significant business. Our credit exposure also includes contingent obligations related to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 286.25 Td (guests) Tj ET Q q 0 0 0 rg BT 54.59 286.25 Td ( cash payments received directly by travel agents and tour operators in ) Tj ET Q q 0 0 0 rg BT 338.38 286.25 Td (Australia and Europe. In most of Europe, we are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 274.25 Td (obligated to honor our guests) Tj ET Q q 0 0 0 rg BT 146.24 274.25 Td ( cruise payments made to their travel agents and tour operators regardless of whether we have received ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 262.25 Td (these payments. ) Tj ET Q q 0 0 0 rg BT 93.19 262.25 Td (While it is typically very dif) Tj ET Q q 0 0 0 rg BT 206.04 262.25 Td (ficult to determine the timing and ultimate outcome of these matters, we use our best ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 250.25 Td (judgment to determine if it is probable, or more likely than not \(ML) Tj ET Q q 0 0 0 rg BT 301.85 250.25 Td (TN\) for income tax matters, that we will incur an expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 238.25 Td (related to the settlement or final adjudication of such matters and whether a reasonable estimation of such probable or ML) Tj ET Q q 0 0 0 rg BT 514.53 238.25 Td (TN loss, if ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 226.25 Td (any) Tj ET Q q 0 0 0 rg BT 40.79 226.25 Td (, can be made.In assessing probable losses, we make estimates of the amount of probable insurance recoveries, if any) Tj ET Q q 0 0 0 rg BT 511.37 226.25 Td (, which are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 214.25 Td (recorded as assets where appropriate.) Tj ET Q q 0 0 0 rg BT 178.42 214.25 Td (W) Tj ET Q q 0 0 0 rg BT 187.05 214.25 Td (e accrue a liability and establish a reserve when we believe a loss is probable or ML) Tj ET Q q 0 0 0 rg BT 522.12 214.25 Td (TN for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 202.25 Td (income tax matters, and the amount of the loss can be reasonably estimated in accordance with U.S. GAAP) Tj ET Q q 0 0 0 rg BT 455.21 202.25 Td (.Such accruals and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 190.25 Td (reserves are typically based on developments to date, management) Tj ET Q q 0 0 0 rg BT 296.07 190.25 Td (s estimates of the outcomes of these matters, our experience in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 178.25 Td (contesting, litigating and settling other similar non-income tax matters, historical claims experience, actuarially determined estimates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 166.25 Td (of liabilities and any related insurance coverages.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.92 166.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 142.25 Td (Given the inherent uncertainty related to the eventual outcome of these matters and potential insurance recoveries, it is possible that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 130.25 Td (all or some of these matters may be resolved for amounts materially dif) Tj ET Q q 0 0 0 rg BT 312.29 130.25 Td (ferent from any provisions or disclosures that we may have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 118.25 Td (made.In addition, as new information becomes available, we may need to reassess the amount of asset or liability that needs to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 106.25 Td (accrued related to our contingencies.) Tj ET Q q 0 0 0 rg BT 175.82 106.25 Td (All such changes in our estimates could materially impact our results of operations and financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 94.25 Td (position.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.73 94.25 Td ( ) Tj ET Q endstream endobj 171 0 obj <>] /Rotate 0 /Contents 172 0 R>> endobj 172 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-34) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 27.00 742.25 Td (Results of Operations ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 118.40 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 718.25 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 718.25 Td (e earn substantially all of our cruise revenues from the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.22 718.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 694.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 694.25 Td (Sales of passenger cruise tickets and, in some cases, the sale of air and other transportation to and from airports near our ships) Tj ET Q q 0 0 0 rg BT 542.33 694.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 682.25 Td (home ports and cancellation fees. ) Tj ET Q q 0 0 0 rg BT 171.88 682.25 Td (W) Tj ET Q q 0 0 0 rg BT 180.52 682.25 Td (e also collect fees, taxes and other char) Tj ET Q q 0 0 0 rg BT 336.37 682.25 Td (ges from our guests ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.47 682.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 658.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 658.25 Td (The cruise ticket price typically includes the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.32 658.25 Td ( ) Tj ET Q /GS0 gs q 4.00 0 0 10.09 58.50 632.09 cm /I42 Do Q /GS0 gs q 10.00 0 0 10.09 62.50 632.09 cm /I43 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 634.25 Td (Accommodations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.04 634.25 Td ( ) Tj ET Q /GS0 gs q 4.00 0 0 10.09 58.50 620.09 cm /I44 Do Q /GS0 gs q 10.00 0 0 10.09 62.50 620.09 cm /I45 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 622.25 Td (Most meals, including snacks at numerous venues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.74 622.25 Td ( ) Tj ET Q /GS0 gs q 4.00 0 0 10.09 58.50 608.09 cm /I46 Do Q /GS0 gs q 10.00 0 0 10.09 62.50 608.09 cm /I47 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 610.25 Td (Access to amenities such as swimming pools, water slides, water parks, whirlpools, a health club and sun decks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.79 610.25 Td ( ) Tj ET Q /GS0 gs q 4.00 0 0 10.09 58.50 596.09 cm /I48 Do Q /GS0 gs q 10.00 0 0 10.09 62.50 596.09 cm /I49 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 598.25 Td (Supervised youth programs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.48 598.25 Td ( ) Tj ET Q /GS0 gs q 4.00 0 0 10.09 58.50 584.09 cm /I50 Do Q /GS0 gs q 10.00 0 0 10.09 62.50 584.09 cm /I51 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 586.25 Td (Entertainment, such as theatrical and comedy shows, live music and nightclubs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.09 586.25 Td ( ) Tj ET Q /GS0 gs q 4.00 0 0 10.09 58.50 572.09 cm /I52 Do Q /GS0 gs q 10.00 0 0 10.09 62.50 572.09 cm /I53 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 574.25 Td (V) Tj ET Q q 0 0 0 rg BT 79.12 574.25 Td (isits to multiple destinations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.12 574.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 550.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 550.25 Td (Sales of goods and services not included in the cruise ticket price are generally the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.05 550.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 529.87 Td ( Substantially all liquor and some non-alcoholic beverage sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.75 529.87 Td ( Internet and communication services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 514.87 Td ( Casino gaming) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.75 514.87 Td ( Full service spas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 499.87 Td ( Shore excursions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.75 499.87 Td ( Specialty restaurants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 484.87 Td ( Gift shop sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.75 484.87 Td ( ) Tj ET Q q 0 0 0 rg BT 369.48 484.87 Td (Art sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 469.87 Td ( Photo sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.75 469.87 Td ( Laundry and dry cleaning services) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 441.25 Td (These goods and services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.41 441.25 Td (are provided either directly by us or by independent concessionaires, from which we receive either a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 429.25 Td (percentage of their revenues or a fee.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.97 429.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.47 429.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 405.25 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 405.25 Td (e incur cruise operating costs and expenses for the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.84 405.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 381.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 381.25 Td (The costs of passenger cruise bookings, which represent costs that are directly associated with passenger cruise ticket revenues, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 369.25 Td (and include travel agent commissions, cost of air and other transportation and credit and debit card fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.47 369.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 345.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 345.25 Td (Onboard and other cruise costs, which represent costs that are directly associated with onboard and other revenues, and include the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 333.25 Td (costs of liquor and some non-alcoholic beverages, costs of tangible goods sold by us in our gift shops and from our photo ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 321.25 Td (packages, communication costs, costs of cruise vacation protection programs, costs of pre- and post-cruise land packages and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 309.25 Td (credit and debit card fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.50 309.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 285.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 285.25 Td (Fuel costs, which include fuel delivery costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.46 285.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 261.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 261.25 Td (Payroll and related costs, which represent all costs related to our shipboard personnel, including bridge and engineering of) Tj ET Q q 0 0 0 rg BT 524.84 261.25 Td (ficers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 249.25 Td (and crew and hotel and administrative employees, while costs associated with our shoreside personnel are included in selling and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 237.25 Td (administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.81 237.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 213.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 213.25 Td (Food costs, which include both our guest and crew food costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.35 213.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 189.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 189.25 Td (Other ship operating expenses, which include port costs that do not vary with guest head counts; repairs and maintenance, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 177.25 Td (including minor improvements and dry-dock expenses; hotel costs; entertainment; gains and losses on ship sales; ship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 165.25 Td (impairments; freight and logistics; insurance premiums and all other ship operating expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.80 165.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 141.25 Td (Concession revenues do not have significant associated expenses because the costs and services incurred for concession revenues are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 129.25 Td (borne by our concessionaires.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.85 129.25 Td ( ) Tj ET Q endstream endobj 173 0 obj <>] /Rotate 0 /Contents 174 0 R>> endobj 174 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-35) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 742.25 Td (Statistical Information ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 703.75 340.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 703.75 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 703.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 703.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 703.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 703.75 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 675.75 340.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 675.75 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 675.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 675.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 675.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 675.75 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 647.75 340.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 647.75 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 647.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 647.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 647.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 647.75 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 619.75 340.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 619.75 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 619.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 619.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 619.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 619.75 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 591.75 340.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 591.75 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 591.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 591.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 591.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 591.75 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 563.75 340.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 563.75 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 563.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 563.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 563.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 563.75 62.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 717.75 m 429.5 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 717.75 m 433.5 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 717.75 m 496.5 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 717.75 m 500.5 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 717.75 m 562.5 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 703.75 m 429.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 717.75 m 496.5 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 703.75 m 496.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 717.75 m 562.5 717.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 703.75 m 562.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 703.75 m 429.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 703.75 m 562.5 703.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.50 722.43 Td (Y) Tj ET Q q 0 0 0 rg BT 413.17 722.43 Td (ears Ended November) Tj ET Q q 0 0 0 rg BT 507.51 722.43 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.00 708.43 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.50 708.43 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.00 708.43 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 694.32 Td (ALBDs \(in thousands\) \(a\) \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 694.32 Td (83,872) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 694.32 Td (82,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 694.32 Td (80,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 680.32 Td (Occupancy percentage \(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 680.32 Td (106.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 680.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 680.32 Td (105.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 680.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 680.32 Td (105.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 680.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 666.32 Td (Passengers carried \(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 666.32 Td (12,407) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 666.32 Td (12,130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 666.32 Td (1) Tj ET Q q 0 0 0 rg BT 531.15 666.32 Td (1,520) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 652.32 Td (Fuel consumption in metric tons \(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 652.32 Td (3,296) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 652.32 Td (3,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 652.32 Td (3,233) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 30.00 645.25 216.37 -9.09 re f /GS0 gs q 0 0 0 rg BT 30.00 638.32 Td (Fuel consumption in metric tons per thousand ) Tj ET Q q 0 0 0 rg BT 215.26 638.32 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 638.32 Td (39.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 638.32 Td (39.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 638.32 Td (40.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 624.32 Td (Fuel cost per metric ton consumed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 624.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 624.32 Td (491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 624.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 624.32 Td (378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.00 624.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 624.32 Td (283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 610.32 Td (Currencies \(USD to 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 596.32 Td ( ) Tj ET Q q 0 0 0 rg BT 42.22 596.32 Td (AUD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 596.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 596.32 Td (0.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 596.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 596.32 Td (0.77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.00 596.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 596.32 Td (0.74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 582.32 Td ( CAD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 582.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 582.32 Td (0.78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 582.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 582.32 Td (0.77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.00 582.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 582.32 Td (0.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 568.32 Td ( EUR) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 568.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 568.32 Td (1.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 568.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 568.32 Td (1.12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.00 568.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 568.32 Td (1.1) Tj ET Q q 0 0 0 rg BT 548.65 568.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 554.32 Td ( GBP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 554.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 554.32 Td (1.34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 554.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 554.32 Td (1.28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.00 554.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 554.32 Td (1.37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 540.32 Td ( RMB) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 540.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 540.32 Td (0.15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 540.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 540.32 Td (0.15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.00 540.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 540.32 Td (0.15) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 512.25 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 63.00 512.25 Td (ALBD is a standard measure of passenger capacity for the period that we use to approximate rate and capacity variances, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 500.25 Td (based on consistently applied formulas that we use to perform analyses to determine the main non-capacity driven factors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 488.25 Td (that cause our cruise revenues and expenses to vary) Tj ET Q q 0 0 0 rg BT 268.38 488.25 Td (.) Tj ET Q q 0 0 0 rg BT 272.83 488.25 Td (ALBDs assume that each cabin we of) Tj ET Q q 0 0 0 rg BT 423.16 488.25 Td (fer for sale accommodates two ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 476.25 Td (passengers and is computed by multiplying passenger capacity by revenue-producing ship operating days in the period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.10 476.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 452.25 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 63.00 452.25 Td (In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.83 452.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.83 452.25 Td ( compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.53 452.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.53 452.25 Td (, we had a 1.9% capacity increase in ) Tj ET Q q 0 0 0 rg BT 315.69 452.25 Td (ALBDs comprised of a 2.9% capacity increase in our NAA) Tj ET Q q 0 0 0 rg BT 552.84 452.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 440.25 Td (segment and a 0.2% capacity increase in our EA) Tj ET Q q 0 0 0 rg BT 255.98 440.25 Td ( segment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.31 440.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 416.25 Td (Our NAA) Tj ET Q q 0 0 0 rg BT 102.17 416.25 Td ( segment) Tj ET Q q 0 0 0 rg BT 140.77 416.25 Td (s capacity increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.76 416.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.26 416.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 416.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 404.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 404.25 Td (Partial period impact from one Princess Cruises 3,560-passenger capacity ship that entered into service in ) Tj ET Q q 0 0 0 rg BT 523.33 404.25 Td (April ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 392.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.00 392.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 380.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 380.25 Td (Partial period impact from one Carnival Cruise Line 3,960-passenger capacity ship that entered into service in ) Tj ET Q q 0 0 0 rg BT 541.36 380.25 Td (April ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 368.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.00 368.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 356.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 356.25 Td (Partial period impact from one Seabourn 600-passenger capacity ship that entered into service in May 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.15 356.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 344.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 332.25 Td (These increases were partially of) Tj ET Q q 0 0 0 rg BT 194.42 332.25 Td (fset by the partial period impact from one P&O Cruises \(Australia\) 1,550-passenger ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 320.25 Td (capacity ship removed from service in ) Tj ET Q q 0 0 0 rg BT 217.95 320.25 Td (April 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.05 320.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 296.25 Td (Our EA) Tj ET Q q 0 0 0 rg BT 93.83 296.25 Td ( segment) Tj ET Q q 0 0 0 rg BT 132.43 296.25 Td (s capacity increase was caused by: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.93 296.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 284.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 284.25 Td (Partial period impact from one ) Tj ET Q q 0 0 0 rg BT 223.69 284.25 Td (AIDA) Tj ET Q q 0 0 0 rg BT 248.13 284.25 Td ( 3,290-passenger capacity ship that entered into service in June 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.77 284.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 260.25 Td (This increase was partially of) Tj ET Q q 0 0 0 rg BT 180.55 260.25 Td (fset by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.99 260.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 248.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 248.25 Td (Partial period impact from one P&O Cruises \(UK\) 700-passenger capacity ship removed from service in March ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 236.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.00 236.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 224.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 224.25 Td (Partial period impact from one Costa Cruises 1,300-passenger capacity ship removed from service in ) Tj ET Q q 0 0 0 rg BT 504.72 224.25 Td (April 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.33 224.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 200.25 Td (In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.83 200.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.83 200.25 Td ( compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.53 200.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.53 200.25 Td (, we had a 2.9% capacity increase in ) Tj ET Q q 0 0 0 rg BT 315.69 200.25 Td (ALBDs comprised of a 2.8% capacity increase in our NAA) Tj ET Q q 0 0 0 rg BT 552.84 200.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 188.25 Td (segment and a 3.0% capacity increase in our EA) Tj ET Q q 0 0 0 rg BT 255.98 188.25 Td ( segment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.31 188.25 Td ( ) Tj ET Q endstream endobj 175 0 obj <>] /Rotate 0 /Contents 176 0 R>> endobj 176 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 742.10 Td (Our NAA) Tj ET Q q 0 0 0 rg BT 102.17 742.10 Td ( segment) Tj ET Q q 0 0 0 rg BT 140.77 742.10 Td (s capacity increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.76 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 730.10 Td (Full period impact from one Seabourn 600-passenger capacity ship that entered into service in December 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.92 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 718.10 Td (Partial period impact from one Holland ) Tj ET Q q 0 0 0 rg BT 258.40 718.10 Td (America Line 2,650-passenger capacity ship that entered into service in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 706.10 Td (April 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.61 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 694.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 694.10 Td (Partial period impact from one Carnival Cruise Line 3,930-passenger capacity ship that entered into service in May ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 682.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.00 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 670.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 670.10 Td (Partial period impact from one Princess Cruises 3,560-passenger capacity ship that entered into service in ) Tj ET Q q 0 0 0 rg BT 523.33 670.10 Td (April ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 658.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.00 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 634.10 Td (These increases were partially of) Tj ET Q q 0 0 0 rg BT 194.42 634.10 Td (fset by the partial period impact from one P&O Cruises \(Australia\) 1,550-passenger ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 622.10 Td (capacity ship removed from service in ) Tj ET Q q 0 0 0 rg BT 217.95 622.10 Td (April 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.05 622.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 598.10 Td (Our EA) Tj ET Q q 0 0 0 rg BT 93.83 598.10 Td ( segment) Tj ET Q q 0 0 0 rg BT 132.43 598.10 Td (s capacity increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.43 598.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 586.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 586.10 Td (Partial period impact from one ) Tj ET Q q 0 0 0 rg BT 223.69 586.10 Td (AIDA) Tj ET Q q 0 0 0 rg BT 248.13 586.10 Td ( 3,290-passenger capacity ship that entered into service in ) Tj ET Q q 0 0 0 rg BT 481.39 586.10 Td (April 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.00 586.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 574.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 574.10 Td (Partial period impact from one ) Tj ET Q q 0 0 0 rg BT 223.69 574.10 Td (AIDA) Tj ET Q q 0 0 0 rg BT 248.13 574.10 Td ( 3,290-passenger capacity ship that entered into service in June 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.77 574.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 550.10 Td (\(c\) ) Tj ET Q q 0 0 0 rg BT 63.00 550.10 Td (In accordance with cruise industry practice, occupancy is calculated using a denominator of ) Tj ET Q q 0 0 0 rg BT 431.75 550.10 Td (ALBDs, which assumes two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.63 550.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 538.10 Td (passengers per cabin even though some cabins can accommodate three or more passengers. Percentages in excess of 100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.93 538.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 526.10 Td (indicate that on average more than two passengers occupied some cabins.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.06 526.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 502.10 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 47.00 502.10 Td ( Compar) Tj ET Q q 0 0 0 rg BT 84.87 502.10 Td (ed to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 108.20 502.10 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 128.20 502.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 130.70 502.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 478.10 Td ( Revenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 80.05 478.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 454.10 Td (Consolidated) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.12 454.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 430.10 Td (Cruise passenger ticket revenues made up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.94 430.10 Td (74%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.27 430.10 Td ( of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.43 430.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.43 430.10 Td ( total revenues.Cruise passenger ticket revenues increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.78 430.10 Td ($986 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.17 430.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 418.10 Td (7.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.83 418.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.11 418.10 Td ($13.9 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.22 418.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.00 418.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.00 418.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.44 418.10 Td ($12.9 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.55 418.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.33 418.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.33 418.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.83 418.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 394.10 Td (This increase was caused by: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.57 394.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 382.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 382.10 Td ($264 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.39 382.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.72 382.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.48 382.10 Td ( in cruise ticket revenues, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.88 382.10 Td (driven primarily by price improvements in our European, ) Tj ET Q q 0 0 0 rg BT 491.21 382.10 Td (Australian, China and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 370.10 Td (various other programs and net favorable foreign currency transactional impacts) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 358.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 358.10 Td ($247 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.39 358.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.72 358.10 Td (1.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.55 358.10 Td ( capacity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.86 358.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.62 358.10 Td ( in ) Tj ET Q q 0 0 0 rg BT 226.84 358.10 Td (ALBDs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.46 358.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 346.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 346.10 Td ($246 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.39 346.10 Td ( - foreign currency translational impact from a weaker U.S. dollar against the functional currencies of our foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 334.10 Td (operations \(foreign currency translational impact\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.19 334.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 322.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 322.10 Td ($1) Tj ET Q q 0 0 0 rg BT 72.63 322.10 Td (19 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.02 322.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.35 322.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.10 322.10 Td ( in occupancy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.64 322.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 310.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 310.10 Td ($81 million - increase in air transportation revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.88 310.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 298.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 298.10 Td ($29 million - increase in other passenger revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.88 298.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 274.10 Td (The remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.09 274.10 Td (26%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.42 274.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.75 274.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.75 274.10 Td ( total revenues were substantially all comprised of onboard and other cruise revenues, which increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 564.88 274.10 Td ($349 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 262.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.89 262.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.72 262.10 Td (8.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.55 262.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.83 262.10 Td ($4.7 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.94 262.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.72 262.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.72 262.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.16 262.10 Td ($4.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.27 262.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.05 262.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.05 262.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.55 262.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 238.10 Td (This increase was caused by: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 226.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 226.10 Td ($132 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.39 226.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.72 226.10 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.27 226.10 Td ( onboard spending by our guests ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 214.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 214.10 Td ($83 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.39 214.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.72 214.10 Td (1.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.55 214.10 Td ( capacity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.86 214.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.62 214.10 Td ( in ) Tj ET Q q 0 0 0 rg BT 221.84 214.10 Td (ALBDs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 202.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 202.10 Td ($52 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.39 202.10 Td ( - foreign currency translational impact) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 190.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 190.10 Td ($42 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.39 190.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.22 190.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.98 190.10 Td ( in other revenues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 178.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 178.10 Td ($40 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.39 178.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.72 178.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.48 178.10 Td ( in occupancy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 154.10 Td (Concession revenues, which are included in onboard and other revenues, increased by $83 million, or 7.9%, to $1.1 billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.77 154.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.77 154.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 142.10 Td ($1.1 billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.89 142.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.89 142.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.89 142.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 118.10 Td (NAA) Tj ET Q q 0 0 0 rg BT 75.11 118.10 Td ( Segment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 116.77 118.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 94.10 Td (Cruise passenger ticket revenues made up 72% of our NAA) Tj ET Q q 0 0 0 rg BT 265.54 94.10 Td ( segment) Tj ET Q q 0 0 0 rg BT 304.15 94.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.54 94.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.54 94.10 Td ( total revenues.Cruise passenger ticket revenues increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 82.10 Td ($562 million, or 6.8% to $8.8 billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.72 82.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.72 82.10 Td ( from $8.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.27 82.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.05 82.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.05 82.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.55 82.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 58.10 Td (This increase was driven by: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.91 58.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 46.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 46.10 Td ($239 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.39 46.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.72 46.10 Td (2.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.55 46.10 Td ( capacity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.86 46.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.62 46.10 Td ( in ) Tj ET Q q 0 0 0 rg BT 226.84 46.10 Td (ALBDs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.46 46.10 Td ( ) Tj ET Q endstream endobj 177 0 obj <>] /Rotate 0 /Contents 178 0 R>> endobj 178 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 33.60 Td (F-37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 740.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 740.10 Td ($229 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.39 740.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.72 740.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.48 740.10 Td ( in cruise ticket revenues, driven primarily by price improvements in the European, ) Tj ET Q q 0 0 0 rg BT 490.09 740.10 Td (Australian and China ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 728.10 Td (programs and net favorable foreign currency transactional impacts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.72 728.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 716.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 716.10 Td ($70 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.39 716.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.72 716.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.48 716.10 Td ( in air transportation revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.88 716.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 704.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 704.10 Td ($21 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.39 704.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.72 704.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.48 704.10 Td ( in occupancy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.51 704.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 680.10 Td (The remaining 28% of our NAA) Tj ET Q q 0 0 0 rg BT 156.69 680.10 Td ( segment) Tj ET Q q 0 0 0 rg BT 195.30 680.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.69 680.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.69 680.10 Td ( total revenues were comprised of onboard and other cruise revenues, which increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 668.10 Td ($232 million, or 7.3%, to $3.4 billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.22 668.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.22 668.10 Td ( from $3.2 billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.55 668.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.55 668.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.55 668.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.05 668.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 644.10 Td (This increase was driven by: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.91 644.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 632.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 632.10 Td ($100 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.39 632.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.72 632.10 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.27 632.10 Td ( onboard spending by our guests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.98 632.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 620.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 620.10 Td ($92 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.39 620.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.72 620.10 Td (2.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.55 620.10 Td ( capacity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.86 620.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.62 620.10 Td ( in ) Tj ET Q q 0 0 0 rg BT 221.84 620.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.96 620.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 608.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 608.10 Td ($35 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.39 608.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.72 608.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.48 608.10 Td ( in other revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.84 608.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 584.10 Td (Concession revenues, which are included in onboard and other revenues, increased by $57 million, or 7.5%, to $807 million in 2018 from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 572.10 Td ($751 million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.17 572.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.17 572.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.67 572.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 548.10 Td (EA) Tj ET Q q 0 0 0 rg BT 67.34 548.10 Td ( Segment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 106.50 548.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 524.10 Td (Cruise passenger ticket revenues made up 82% of our EA) Tj ET Q q 0 0 0 rg BT 257.21 524.10 Td ( segment) Tj ET Q q 0 0 0 rg BT 295.81 524.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.21 524.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.21 524.10 Td ( total revenues.Cruise passenger ticket revenues increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 512.10 Td ($442 million, or 9.4%, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.33 512.10 Td ($5.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.44 512.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.22 512.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.22 512.10 Td ( from $4.7 billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.55 512.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.55 512.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.05 512.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 488.10 Td (This increase was driven by: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.91 488.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 476.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 476.10 Td ($251 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.39 476.10 Td ( - foreign currency translational impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.21 476.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 464.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 464.10 Td ($96 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.39 464.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.72 464.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.48 464.10 Td ( in occupancy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.51 464.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 452.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 452.10 Td ($69 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.39 452.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.72 452.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.48 452.10 Td ( in cruise ticket revenues, driven primarily by price improvements in the European, China and various other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 440.10 Td (programs, partially of) Tj ET Q q 0 0 0 rg BT 149.74 440.10 Td (fset by decrease in the Caribbean programs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.45 440.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.95 440.10 Td (and net unfavorable foreign currency transactional impacts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.40 440.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 416.10 Td (The remaining 18% of our EA) Tj ET Q q 0 0 0 rg BT 148.36 416.10 Td ( segment) Tj ET Q q 0 0 0 rg BT 186.96 416.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.35 416.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.35 416.10 Td ( total revenues were comprised of onboard and other cruise revenues, which increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 404.10 Td ($98 million, or 9.7%, to $1.1 billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.22 404.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.22 404.10 Td ( from $1.0 billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.55 404.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.55 404.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.55 404.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 380.10 Td (This increase was driven by: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.91 380.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 368.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 368.10 Td ($55 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.39 368.10 Td ( - foreign currency translational impact) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.71 368.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 356.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 356.10 Td ($21 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.39 356.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.72 356.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.48 356.10 Td ( in occupancy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.01 356.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 332.10 Td (Concession revenues, which are included in onboard and other revenues, increased by $26 million, or 8.7%, to $328 million in 2018 from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 320.10 Td ($301 million in 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.67 320.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 296.10 Td (Costs and Expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 124.41 296.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 272.10 Td (Consolidated) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.12 272.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 248.10 Td (Operating costs and expenses increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.28 248.10 Td ($588 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.67 248.10 Td ( or 5.6%, to $1) Tj ET Q q 0 0 0 rg BT 310.74 248.10 Td (1.1 billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.63 248.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.63 248.10 Td ( from $10.5 billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.96 248.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.96 248.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.96 248.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 224.10 Td (This increase was caused by: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.07 224.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 212.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 212.10 Td ($371 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.39 212.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.72 212.10 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.27 212.10 Td ( fuel prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.69 212.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 200.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 200.10 Td ($197 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.39 200.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.72 200.10 Td (1.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.55 200.10 Td ( capacity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.86 200.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.62 200.10 Td ( in ) Tj ET Q q 0 0 0 rg BT 226.84 200.10 Td (ALBDs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.46 200.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 188.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 188.10 Td ($169 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.39 188.10 Td ( - foreign currency translational impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.21 188.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 176.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 176.10 Td ($100 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.39 176.10 Td ( - 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.88 478.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 454.10 Td (Depreciation and amortization expenses increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.47 454.10 Td ($70 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.86 454.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.69 454.10 Td (5.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.52 454.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.80 454.10 Td ($1.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.91 454.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.69 454.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.69 454.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.13 454.10 Td ($1.2 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.24 454.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.02 454.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.02 454.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.02 454.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 430.10 Td (Goodwill and trademark impairment char) Tj ET Q q 0 0 0 rg BT 192.87 430.10 Td (ges of $89 million include a goodwill impairment char) Tj ET Q q 0 0 0 rg BT 410.98 430.10 Td (ge of $38 million and a trademark ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 418.10 Td (impairment char) Tj ET Q q 0 0 0 rg BT 92.63 418.10 Td (ge of $50 million during 2017. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.89 418.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 394.10 Td (EA) Tj ET Q q 0 0 0 rg BT 71.84 394.10 Td ( Segment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 111.00 394.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 365.10 Td (Operating costs and expenses increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.28 365.10 Td ($108 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.67 365.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.50 365.10 Td (3.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.33 365.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.61 365.10 Td ($3.7 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.72 365.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 365.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.50 365.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.94 365.10 Td (3.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.05 365.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.83 365.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.83 365.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.83 365.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 348.10 Td (This increase was caused by: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.57 348.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 336.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 336.10 Td ($174 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.39 336.10 Td ( - foreign currency translational impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.21 336.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 324.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 324.10 Td ($1) Tj ET Q q 0 0 0 rg BT 72.63 324.10 Td (17 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.02 324.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.35 324.10 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.90 324.10 Td ( fuel prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.82 324.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 312.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 312.10 Td ($29 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.39 312.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.72 312.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.48 312.10 Td ( in occupancy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.51 312.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 288.10 Td (These increases were partially of) Tj ET Q q 0 0 0 rg BT 176.42 288.10 Td (fset by: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.14 288.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 276.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 276.10 Td ($141 million - ship impairments in 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.66 276.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 264.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 264.10 Td ($39 million - gains on ship sales in 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.22 264.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 252.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 252.10 Td ($21 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.39 252.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.72 252.10 Td (lower) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.49 252.10 Td ( cruise payroll and related expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.43 252.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 228.10 Td (Selling and administrative expenses increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.83 228.10 Td ($84 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.22 228.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.05 228.10 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.38 228.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.66 228.10 Td ($751 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.05 228.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.83 228.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.83 228.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.27 228.10 Td ($667 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.66 228.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.44 228.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.44 228.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.94 228.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 204.10 Td (This increase was driven by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.41 204.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 192.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 192.10 Td ($39 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.39 192.10 Td ( - foreign currency translational impact) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.71 192.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 180.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 180.10 Td ($27 million - higher administrative expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.18 180.10 Td (s) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 156.10 Td (Depreciation and amortization expenses increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.47 156.10 Td ($50 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.86 156.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.69 156.10 Td (9.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.52 156.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.80 156.10 Td ($61) Tj ET Q q 0 0 0 rg BT 355.43 156.10 Td (1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.82 156.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.60 156.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.60 156.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.04 156.10 Td ($561 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.43 156.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.21 156.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.21 156.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.21 156.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 132.10 Td (Operating Income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 118.55 132.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 108.10 Td (Our consolidated operating income increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.04 108.10 Td ($516 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.44 108.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.27 108.10 Td (18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.60 108.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.88 108.10 Td ($3.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.99 108.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.77 108.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.77 108.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.21 108.10 Td ($2.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.71 108.10 Td ( billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.10 108.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.10 108.10 Td (. Our NAA) Tj ET Q q 0 0 0 rg BT 550.26 108.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 96.10 Td (segment) Tj ET Q q 0 0 0 rg BT 63.10 96.10 Td (s operating income increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.45 96.10 Td ($272 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.84 96.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.67 96.10 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.00 96.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.28 96.10 Td ($2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.78 96.10 Td ( billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.17 96.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.17 96.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.61 96.10 Td ($2.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.72 96.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.50 96.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.50 96.10 Td (, and our EA) Tj ET Q q 0 0 0 rg BT 528.04 96.10 Td ( segment) Tj ET Q q 0 0 0 rg BT 566.65 96.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 84.10 Td (operating income increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.95 84.10 Td ($298 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.34 84.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.17 84.10 Td (33%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.50 84.10 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.78 84.10 Td ($1.2 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.89 84.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.67 84.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.67 84.10 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.11 84.10 Td ($0.9 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.22 84.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 84.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.00 84.10 Td (. ) Tj ET Q q 0 0 0 rg BT 439.82 84.10 Td (These changes were primarily due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 72.10 Td (to the reasons discussed above.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.69 72.10 Td ( ) Tj ET Q endstream endobj 181 0 obj <>] /Rotate 0 /Contents 182 0 R>> endobj 182 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 33.60 Td (F-39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 740.25 Td (Nonoperating Income \(Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.94 740.25 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.27 740.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 699.75 418.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 699.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 699.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 699.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 669.75 418.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 669.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 669.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 669.75 68.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 714.75 m 512.5 714.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 714.75 m 516.5 714.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 714.75 m 584.5 714.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 714.75 m 512.5 714.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 699.75 m 512.5 699.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 714.75 m 584.5 714.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 699.75 m 584.5 699.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 669.75 m 512.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 655.75 m 512.5 655.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 653.75 m 512.5 653.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 669.75 m 584.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 655.75 m 584.5 655.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 653.75 m 584.5 653.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.00 719.43 Td (Y) Tj ET Q q 0 0 0 rg BT 462.67 719.43 Td (ears Ended November) Tj ET Q q 0 0 0 rg BT 557.01 719.43 Td ( 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 29.00 704.46 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.00 704.43 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 540.00 704.43 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 689.42 Td (Unrealized gains on fuel derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.00 689.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.65 689.42 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 689.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.65 689.42 Td (227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 674.42 Td (Realized \(losses\) on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.30 674.47 Td (\(35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.65 674.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.30 674.42 Td (\(192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 580.65 674.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 659.42 Td (Gains on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.00 659.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.65 659.42 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 659.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 570.65 659.42 Td (35) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 638.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 626.25 Td (Explanations of Non-GAAP) Tj ET Q q 0 0 0 rg BT 145.35 626.25 Td ( Financial Measur) Tj ET Q q 0 0 0 rg BT 222.95 626.25 Td (es ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 233.78 626.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 27 600.68505859375 m 161.814453125 600.68505859375 l s q 0 0 0 rg BT 27.00 602.25 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 75.89 602.25 Td ( Financial Measur) Tj ET Q q 0 0 0 rg BT 153.48 602.25 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 161.81 602.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 572.25 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 572.25 Td (e use net cruise revenues per ) Tj ET Q q 0 0 0 rg BT 152.25 572.25 Td (ALBD \(net revenue yields\), net cruise costs excluding fuel per ) Tj ET Q q 0 0 0 rg BT 413.55 572.25 Td (ALBD, adjusted net income and adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 560.25 Td (earnings per share as non-GAAP) Tj ET Q q 0 0 0 rg BT 158.26 560.25 Td ( financial measures of our cruise segments) Tj ET Q q 0 0 0 rg BT 330.79 560.25 Td ( and the company) Tj ET Q q 0 0 0 rg BT 404.38 560.25 Td (s financial performance.) Tj ET Q q 0 0 0 rg BT 503.59 560.25 Td (These non-GAAP) Tj ET Q q 0 0 0 rg BT 575.15 560.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 548.25 Td (financial measures are provided along with U.S. GAAP) Tj ET Q q 0 0 0 rg BT 249.08 548.25 Td ( gross cruise revenues per ) Tj ET Q q 0 0 0 rg BT 354.32 548.25 Td (ALBD \(gross revenue yields\), gross cruise costs per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 536.25 Td (ALBD and U.S. GAAP) Tj ET Q q 0 0 0 rg BT 120.80 536.25 Td ( net income and U.S. GAAP) Tj ET Q q 0 0 0 rg BT 234.03 536.25 Td ( earnings per share.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.27 536.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 512.25 Td (Net revenue yields and net cruise costs excluding fuel per ) Tj ET Q q 0 0 0 rg BT 259.70 512.25 Td (ALBD enable us to separate the impact of predictable capacity or ) Tj ET Q q 0 0 0 rg BT 523.21 512.25 Td (ALBD ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 500.25 Td (changes from price and other changes that af) Tj ET Q q 0 0 0 rg BT 205.91 500.25 Td (fect our business. ) Tj ET Q q 0 0 0 rg BT 277.93 500.25 Td (W) Tj ET Q q 0 0 0 rg BT 286.57 500.25 Td (e believe these non-GAAP) Tj ET Q q 0 0 0 rg BT 393.11 500.25 Td ( measures provide useful information to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 488.25 Td (investors and expanded insight to measure our revenue and cost performance as a supplement to our U.S. GAAP) Tj ET Q q 0 0 0 rg BT 477.35 488.25 Td ( consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 476.25 Td (statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.71 476.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.21 476.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 452.25 Td (Under U.S. GAAP) Tj ET Q q 0 0 0 rg BT 100.89 452.25 Td (, the realized and unrealized gains and losses on fuel derivatives not qualifying as fuel hedges are recognized currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 440.25 Td (in earnings. ) Tj ET Q q 0 0 0 rg BT 75.97 440.25 Td (W) Tj ET Q q 0 0 0 rg BT 84.61 440.25 Td (e believe that unrealized gains and losses on fuel derivatives are not an indication of our earnings performance since they ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 428.25 Td (relate to future periods and may not ultimately be realized in our future earnings. ) Tj ET Q q 0 0 0 rg BT 352.54 428.25 Td (Therefore, we believe it is more meaningful for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 416.25 Td (unrealized gains and losses on fuel derivatives to be excluded from our net income and earnings per share and, accordingly) Tj ET Q q 0 0 0 rg BT 518.40 416.25 Td (, we present ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 404.25 Td (adjusted net income and adjusted earnings per share excluding these unrealized gains and losses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.54 404.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 380.25 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 380.25 Td (e believe that gains and losses on ship sales, impairment char) Tj ET Q q 0 0 0 rg BT 280.12 380.25 Td (ges, restructuring and other expenses are not part of our core operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 368.25 Td (business and are not an indication of our future earnings performance. ) Tj ET Q q 0 0 0 rg BT 309.50 368.25 Td (Therefore, we believe it is more meaningful for gains and losses on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 356.25 Td (ship sales, impairment char) Tj ET Q q 0 0 0 rg BT 136.23 356.25 Td (ges, and restructuring and other non-core gains and char) Tj ET Q q 0 0 0 rg BT 360.69 356.25 Td (ges to be excluded from our net income and earnings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 344.25 Td (per share and, accordingly) Tj ET Q q 0 0 0 rg BT 131.86 344.25 Td (, we present adjusted net income and adjusted earnings per share excluding these items.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.02 344.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 320.25 Td (The presentation of our non-GAAP) Tj ET Q q 0 0 0 rg BT 168.26 320.25 Td ( financial information is not intended to be considered in isolation from, as substitute for) Tj ET Q q 0 0 0 rg BT 521.96 320.25 Td (, or superior to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 308.25 Td (the financial information prepared in accordance with U.S. GAAP) Tj ET Q q 0 0 0 rg BT 290.80 308.25 Td (. It is possible that our non-GAAP) Tj ET Q q 0 0 0 rg BT 427.37 308.25 Td ( financial measures may not be exactly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 296.25 Td (comparable to the like-kind information presented by other companies, which is a potential risk associated with using these measures to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 284.25 Td (compare us to other companies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.90 284.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 260.9169921875 m 101.970703125 260.9169921875 l s q 0 0 0 rg BT 27.00 262.25 Td (Net revenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.97 262.25 Td ( are commonly used in the cruise industry to measure a company) Tj ET Q q 0 0 0 rg BT 364.40 262.25 Td (s cruise segment revenue performance and for revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 250.25 Td (management purposes. ) Tj ET Q q 0 0 0 rg BT 120.96 250.25 Td (W) Tj ET Q q 0 0 0 rg BT 129.60 250.25 Td (e use net cruise revenues rather than gross cruise revenues to calculate net revenue yields.) Tj ET Q q 0 0 0 rg BT 508.68 250.25 Td (W) Tj ET Q q 0 0 0 rg BT 517.32 250.25 Td (e believe that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 238.25 Td (net cruise revenues is a more meaningful measure in determining revenue yield than gross cruise revenues because it reflects the cruise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 226.25 Td (revenues earned net of our most significant variable costs, which are travel agent commissions, cost of air and other transportation, certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 214.25 Td (other costs that are directly associated with onboard and other revenues and credit and debit card fees.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 188.9169921875 m 146.1162109375 188.9169921875 l s q 0 0 0 rg BT 27.00 190.25 Td (Net passenger ticket revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.12 190.25 Td ( reflect gross passenger ticket revenues, net of commissions, transportation and other costs. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 164.9169921875 m 154.7294921875 164.9169921875 l s q 0 0 0 rg BT 27.00 166.25 Td (Net onboard and other revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.73 166.25 Td ( reflect gross onboard and other revenues, net of onboard and other cruise costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.34 166.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 140.9169921875 m 194.734375 140.9169921875 l s q 0 0 0 rg BT 27.00 142.25 Td (Net cruise costs excluding fuel per ) Tj ET Q q 0 0 0 rg BT 167.51 142.25 Td (ALBD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.73 142.25 Td ( is the measure we use to monitor our ability to control our cruise segments) Tj ET Q q 0 0 0 rg BT 498.37 142.25 Td ( costs rather than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 130.25 Td (gross cruise costs per ) Tj ET Q q 0 0 0 rg BT 114.21 130.25 Td (ALBD.) Tj ET Q q 0 0 0 rg BT 146.25 130.25 Td (W) Tj ET Q q 0 0 0 rg BT 154.89 130.25 Td (e exclude the same variable costs that are included in the calculation of net cruise revenues as well as fuel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 118.25 Td (expense to calculate net cruise costs without fuel to avoid duplicating these variable costs in our non-GAAP) Tj ET Q q 0 0 0 rg BT 458.74 118.25 Td ( financial measures. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 106.25 Td (Substantially all of our net cruise costs excluding fuel are lar) Tj ET Q q 0 0 0 rg BT 269.52 106.25 Td (gely fixed, except for the impact of changing prices once the number of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 94.25 Td (ALBDs has been determined.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.30 94.25 Td ( ) Tj ET Q endstream endobj 183 0 obj <>] /Rotate 0 /Contents 184 0 R>> endobj 184 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 33.60 Td (F-40) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 27 738.68505859375 m 170.9501953125 738.68505859375 l s q 0 0 0 rg BT 27.00 740.25 Td (Reconciliation of For) Tj ET Q q 0 0 0 rg BT 116.80 740.25 Td (ecasted Data) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 170.95 740.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 716.25 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 716.25 Td (e have not provided a reconciliation of forecasted gross cruise revenues to forecasted net cruise revenues or forecasted gross cruise costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 704.25 Td (to forecasted net cruise costs without fuel or forecasted U.S. GAAP) Tj ET Q q 0 0 0 rg BT 297.11 704.25 Td ( net income to forecasted adjusted net income or forecasted U.S. GAAP) Tj ET Q q 0 0 0 rg BT 584.15 704.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 692.25 Td (earnings per share to forecasted adjusted earnings per share because preparation of meaningful U.S. GAAP) Tj ET Q q 0 0 0 rg BT 455.36 692.25 Td ( forecasts of gross cruise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 680.25 Td (revenues, gross cruise costs, net income and earnings per share would require unreasonable ef) Tj ET Q q 0 0 0 rg BT 402.52 680.25 Td (fort. ) Tj ET Q q 0 0 0 rg BT 421.78 680.25 Td (W) Tj ET Q q 0 0 0 rg BT 430.41 680.25 Td (e are unable to predict, without ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 668.25 Td (unreasonable ef) Tj ET Q q 0 0 0 rg BT 89.84 668.25 Td (fort, the future movement of foreign exchange rates and fuel prices. ) Tj ET Q q 0 0 0 rg BT 362.61 668.25 Td (While we forecast realized gains and losses on fuel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 656.25 Td (derivatives by applying current Brent prices to the derivatives that settle in the forecast period, we do not forecast the impact of unrealized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 644.25 Td (gains and losses on fuel derivatives because we do not believe they are an indication of our future earnings performance. ) Tj ET Q q 0 0 0 rg BT 511.92 644.25 Td (W) Tj ET Q q 0 0 0 rg BT 520.56 644.25 Td (e are unable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 632.25 Td (determine the future impact of gains or losses on ships sales, restructuring expenses and other non-core gains and char) Tj ET Q q 0 0 0 rg BT 499.73 632.25 Td (ges.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 27 608.68505859375 m 198.8701171875 608.68505859375 l s q 0 0 0 rg BT 27.00 610.25 Td (Constant Dollar) Tj ET Q q 0 0 0 rg BT 95.43 610.25 Td ( and Constant Curr) Tj ET Q q 0 0 0 rg BT 179.43 610.25 Td (ency) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.87 610.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 586.25 Td (Our operations primarily utilize the U.S. dollar) Tj ET Q q 0 0 0 rg BT 214.33 586.25 Td (, ) Tj ET Q q 0 0 0 rg BT 218.78 586.25 Td (Australian dollar) Tj ET Q q 0 0 0 rg BT 285.86 586.25 Td (, euro and sterling as functional currencies to measure results and financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 574.25 Td (condition. Functional currencies other than the U.S. dollar subject us to foreign currency translational risk. Our operations also have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 562.25 Td (revenues and expenses that are in currencies other than their functional currency) Tj ET Q q 0 0 0 rg BT 347.60 562.25 Td (, which subject us to foreign currency transactional risk.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 571.97 562.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 538.25 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 538.25 Td (e ) Tj ET Q q 0 0 0 rg BT 41.92 538.25 Td (report ) Tj ET Q q 0 0 0 rg BT 67.64 538.25 Td (net ) Tj ET Q q 0 0 0 rg BT 81.70 538.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 115.18 538.25 Td (yields, ) Tj ET Q q 0 0 0 rg BT 143.41 538.25 Td (net ) Tj ET Q q 0 0 0 rg BT 157.47 538.25 Td (passenger ) Tj ET Q q 0 0 0 rg BT 198.74 538.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 232.23 538.25 Td (yields, ) Tj ET Q q 0 0 0 rg BT 260.46 538.25 Td (net ) Tj ET Q q 0 0 0 rg BT 274.52 538.25 Td (onboard ) Tj ET Q q 0 0 0 rg BT 309.13 538.25 Td (and ) Tj ET Q q 0 0 0 rg BT 325.41 538.25 Td (other ) Tj ET Q q 0 0 0 rg BT 347.80 538.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 381.29 538.25 Td (yields ) Tj ET Q q 0 0 0 rg BT 407.02 538.25 Td (and ) Tj ET Q q 0 0 0 rg BT 423.30 538.25 Td (net ) Tj ET Q q 0 0 0 rg BT 437.36 538.25 Td (cruise ) Tj ET Q q 0 0 0 rg BT 463.08 538.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 484.92 538.25 Td (excluding ) Tj ET Q q 0 0 0 rg BT 526.19 538.25 Td (fuel ) Tj ET Q q 0 0 0 rg BT 543.58 538.25 Td (per ) Tj ET Q q 0 0 0 rg BT 557.79 538.25 Td (ALBD ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 526.25 Td (on ) Tj ET Q q 0 0 0 rg BT 39.58 526.25 Td (a ) Tj ET Q q 0 0 0 rg BT 46.59 526.25 Td (constant ) Tj ET Q q 0 0 0 rg BT 86.93 526.25 Td (dollar ) Tj ET Q q 0 0 0 rg BT 117.27 526.25 Td (and ) Tj ET Q q 0 0 0 rg BT 134.29 526.25 Td (constant ) Tj ET Q q 0 0 0 rg BT 174.63 526.25 Td (currency ) Tj ET Q q 0 0 0 rg BT 216.62 526.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 239.20 526.25 Td (assuming ) Tj ET Q q 0 0 0 rg BT 279.55 526.25 Td (the ) Tj ET Q q 0 0 0 rg BT 294.35 526.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 316.93 526.25 Td (and ) Tj ET Q q 0 0 0 rg BT 333.94 526.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 356.52 526.25 Td (periods) Tj ET Q q 0 0 0 rg BT 388.54 526.25 Td ( ) Tj ET Q q 0 0 0 rg BT 391.12 526.25 Td (currency ) Tj ET Q q 0 0 0 rg BT 428.67 526.25 Td (exchange ) Tj ET Q q 0 0 0 rg BT 469.01 526.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 490.46 526.25 Td (have ) Tj ET Q q 0 0 0 rg BT 511.91 526.25 Td (remained ) Tj ET Q q 0 0 0 rg BT 551.69 526.25 Td (constant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 514.25 Td (with ) Tj ET Q q 0 0 0 rg BT 47.60 514.25 Td (the ) Tj ET Q q 0 0 0 rg BT 62.65 514.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 85.47 514.25 Td (and ) Tj ET Q q 0 0 0 rg BT 102.74 514.25 Td (2016 ) Tj ET Q q 0 0 0 rg BT 125.56 514.25 Td (periods) Tj ET Q q 0 0 0 rg BT 157.59 514.25 Td ( ) Tj ET Q q 0 0 0 rg BT 160.42 514.25 Td (rates. ) Tj ET Q q 0 0 0 rg BT 184.42 514.25 Td (These ) Tj ET Q q 0 0 0 rg BT 211.12 514.25 Td (metrics ) Tj ET Q q 0 0 0 rg BT 243.38 514.25 Td (facilitate ) Tj ET Q q 0 0 0 rg BT 281.18 514.25 Td (a ) Tj ET Q q 0 0 0 rg BT 288.44 514.25 Td (comparative ) Tj ET Q q 0 0 0 rg BT 340.69 514.25 Td (view ) Tj ET Q q 0 0 0 rg BT 362.95 514.25 Td (for ) Tj ET Q q 0 0 0 rg BT 377.44 514.25 Td (the ) Tj ET Q q 0 0 0 rg BT 392.48 514.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 427.52 514.25 Td (in ) Tj ET Q q 0 0 0 rg BT 438.12 514.25 Td (our ) Tj ET Q q 0 0 0 rg BT 454.28 514.25 Td (business ) Tj ET Q q 0 0 0 rg BT 491.00 514.25 Td (in ) Tj ET Q q 0 0 0 rg BT 501.60 514.25 Td (an ) Tj ET Q q 0 0 0 rg BT 513.86 514.25 Td (environment ) Tj ET Q q 0 0 0 rg BT 567.23 514.25 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 502.25 Td (fluctuating ) Tj ET Q q 0 0 0 rg BT 72.82 502.25 Td (exchange ) Tj ET Q q 0 0 0 rg BT 113.07 502.25 Td (rates.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 476.9169921875 m 88.3818359375 476.9169921875 l s q 0 0 0 rg BT 27.00 478.25 Td (Constant ) Tj ET Q q 0 0 0 rg BT 65.06 478.25 Td (dollar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.38 478.25 Td ( ) Tj ET Q q 0 0 0 rg BT 90.88 478.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 130.04 478.25 Td (removes ) Tj ET Q q 0 0 0 rg BT 166.41 478.25 Td (only ) Tj ET Q q 0 0 0 rg BT 186.69 478.25 Td (the ) Tj ET Q q 0 0 0 rg BT 201.41 478.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 231.12 478.25 Td (of ) Tj ET Q q 0 0 0 rg BT 241.95 478.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 276.66 478.25 Td (in ) Tj ET Q q 0 0 0 rg BT 286.94 478.25 Td (exchange ) Tj ET Q q 0 0 0 rg BT 327.19 478.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 348.57 478.25 Td (on ) Tj ET Q q 0 0 0 rg BT 361.07 478.25 Td (the ) Tj ET Q q 0 0 0 rg BT 375.78 478.25 Td (translation ) Tj ET Q q 0 0 0 rg BT 420.50 478.25 Td (of ) Tj ET Q q 0 0 0 rg BT 431.33 478.25 Td (our ) Tj ET Q q 0 0 0 rg BT 447.16 478.25 Td (operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.81 478.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 452.9169921875 m 99.85302734375 452.9169921875 l s q 0 0 0 rg BT 27.00 454.25 Td (Constant ) Tj ET Q q 0 0 0 rg BT 64.88 454.25 Td (currency) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.85 454.25 Td ( ) Tj ET Q q 0 0 0 rg BT 102.17 454.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 141.15 454.25 Td (removes ) Tj ET Q q 0 0 0 rg BT 177.35 454.25 Td (the ) Tj ET Q q 0 0 0 rg BT 191.89 454.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 221.42 454.25 Td (of ) Tj ET Q q 0 0 0 rg BT 232.07 454.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 266.60 454.25 Td (in ) Tj ET Q q 0 0 0 rg BT 276.70 454.25 Td (exchange ) Tj ET Q q 0 0 0 rg BT 316.77 454.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 337.97 454.25 Td (on ) Tj ET Q q 0 0 0 rg BT 350.29 454.25 Td (the ) Tj ET Q q 0 0 0 rg BT 364.83 454.25 Td (translation ) Tj ET Q q 0 0 0 rg BT 409.36 454.25 Td (of ) Tj ET Q q 0 0 0 rg BT 420.01 454.25 Td (our ) Tj ET Q q 0 0 0 rg BT 435.66 454.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 479.64 454.25 Td (\(as ) Tj ET Q q 0 0 0 rg BT 493.62 454.25 Td (in ) Tj ET Q q 0 0 0 rg BT 503.72 454.25 Td (constant ) Tj ET Q q 0 0 0 rg BT 539.36 454.25 Td (dollar\) ) Tj ET Q q 0 0 0 rg BT 568.34 454.25 Td (plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 442.25 Td (the ) Tj ET Q q 0 0 0 rg BT 41.14 442.25 Td (transactional ) Tj ET Q q 0 0 0 rg BT 94.16 442.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 123.30 442.25 Td (of ) Tj ET Q q 0 0 0 rg BT 133.55 442.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 167.69 442.25 Td (in ) Tj ET Q q 0 0 0 rg BT 177.39 442.25 Td (exchange ) Tj ET Q q 0 0 0 rg BT 217.07 442.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 237.87 442.25 Td (from ) Tj ET Q q 0 0 0 rg BT 259.24 442.25 Td (revenues ) Tj ET Q q 0 0 0 rg BT 296.70 442.25 Td (and ) Tj ET Q q 0 0 0 rg BT 313.07 442.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 351.09 442.25 Td (that ) Tj ET Q q 0 0 0 rg BT 368.01 442.25 Td (are ) Tj ET Q q 0 0 0 rg BT 382.15 442.25 Td (denominated ) Tj ET Q q 0 0 0 rg BT 435.72 442.25 Td (in ) Tj ET Q q 0 0 0 rg BT 445.43 442.25 Td (a ) Tj ET Q q 0 0 0 rg BT 451.79 442.25 Td (currency ) Tj ET Q q 0 0 0 rg BT 488.69 442.25 Td (other ) Tj ET Q q 0 0 0 rg BT 511.17 442.25 Td (than ) Tj ET Q q 0 0 0 rg BT 530.31 442.25 Td (the ) Tj ET Q q 0 0 0 rg BT 544.45 442.25 Td (functional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 430.25 Td (currency) Tj ET Q q 0 0 0 rg BT 61.33 430.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.33 430.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 418.25 Td ( ) Tj ET Q q 0 0 0 rg BT 29.50 418.25 Td ( ) Tj ET Q q 0 0 0 rg BT 32.00 418.25 Td ( ) Tj ET Q q 0 0 0 rg BT 34.50 418.25 Td ( ) Tj ET Q q 0 0 0 rg BT 37.00 418.25 Td ( ) Tj ET Q q 0 0 0 rg BT 39.50 418.25 Td ( ) Tj ET Q q 0 0 0 rg BT 42.00 418.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 404.9169921875 m 69.20703125 404.9169921875 l s q 0 0 0 rg BT 27.00 406.25 Td (Examples:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 69.21 406.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 382.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 382.25 Td (The translation of our operations with functional currencies other than U.S. dollar to our U.S. dollar reporting currency results in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 370.25 Td (decreases in reported U.S. dollar revenues and expenses if the U.S. dollar strengthens against these foreign currencies and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 358.25 Td (increases in reported U.S. dollar revenues and expenses if the U.S. dollar weakens against these foreign currencies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.12 358.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 334.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 334.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 80.73 334.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 124.57 334.25 Td (have ) Tj ET Q q 0 0 0 rg BT 145.62 334.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 179.45 334.25 Td (and ) Tj ET Q q 0 0 0 rg BT 196.06 334.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 230.45 334.25 Td (transactions ) Tj ET Q q 0 0 0 rg BT 280.39 334.25 Td (in ) Tj ET Q q 0 0 0 rg BT 290.35 334.25 Td (currencies ) Tj ET Q q 0 0 0 rg BT 333.61 334.25 Td (other ) Tj ET Q q 0 0 0 rg BT 356.34 334.25 Td (than ) Tj ET Q q 0 0 0 rg BT 375.74 334.25 Td (their ) Tj ET Q q 0 0 0 rg BT 396.24 334.25 Td (functional ) Tj ET Q q 0 0 0 rg BT 438.96 334.25 Td (currency) Tj ET Q q 0 0 0 rg BT 473.29 334.25 Td (. ) Tj ET Q q 0 0 0 rg BT 477.97 334.25 Td (If ) Tj ET Q q 0 0 0 rg BT 486.81 334.25 Td (their ) Tj ET Q q 0 0 0 rg BT 507.31 334.25 Td (functional ) Tj ET Q q 0 0 0 rg BT 550.03 334.25 Td (currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 322.25 Td (strengthens ) Tj ET Q q 0 0 0 rg BT 112.09 322.25 Td (against ) Tj ET Q q 0 0 0 rg BT 143.96 322.25 Td (these ) Tj ET Q q 0 0 0 rg BT 168.04 322.25 Td (other ) Tj ET Q q 0 0 0 rg BT 192.13 322.25 Td (currencies, ) Tj ET Q q 0 0 0 rg BT 239.26 322.25 Td (it ) Tj ET Q q 0 0 0 rg BT 248.36 322.25 Td (reduces ) Tj ET Q q 0 0 0 rg BT 282.43 322.25 Td (the ) Tj ET Q q 0 0 0 rg BT 298.19 322.25 Td (functional ) Tj ET Q q 0 0 0 rg BT 342.28 322.25 Td (currency ) Tj ET Q q 0 0 0 rg BT 380.79 322.25 Td (revenues ) Tj ET Q q 0 0 0 rg BT 419.87 322.25 Td (and ) Tj ET Q q 0 0 0 rg BT 437.85 322.25 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 479.99 322.25 Td (If ) Tj ET Q q 0 0 0 rg BT 490.19 322.25 Td (the ) Tj ET Q q 0 0 0 rg BT 505.95 322.25 Td (functional ) Tj ET Q q 0 0 0 rg BT 550.04 322.25 Td (currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 310.25 Td (weakens ) Tj ET Q q 0 0 0 rg BT 99.93 310.25 Td (against ) Tj ET Q q 0 0 0 rg BT 130.75 310.25 Td (these ) Tj ET Q q 0 0 0 rg BT 153.80 310.25 Td (other ) Tj ET Q q 0 0 0 rg BT 176.85 310.25 Td (currencies, ) Tj ET Q q 0 0 0 rg BT 222.93 310.25 Td (it ) Tj ET Q q 0 0 0 rg BT 230.99 310.25 Td (increases ) Tj ET Q q 0 0 0 rg BT 270.13 310.25 Td (the ) Tj ET Q q 0 0 0 rg BT 284.85 310.25 Td (functional ) Tj ET Q q 0 0 0 rg BT 327.89 310.25 Td (currency ) Tj ET Q q 0 0 0 rg BT 365.37 310.25 Td (revenues ) Tj ET Q q 0 0 0 rg BT 403.41 310.25 Td (and ) Tj ET Q q 0 0 0 rg BT 420.34 310.25 Td (expenses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.94 310.25 Td ( ) Tj ET Q q 0 0 0 rg BT 461.44 310.25 Td ( ) Tj ET Q q 0 0 0 rg BT 463.94 310.25 Td ( ) Tj ET Q endstream endobj 185 0 obj <>] /Rotate 0 /Contents 186 0 R>> endobj 186 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 33.60 Td (F-41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 728.10 Td (Consolidated gross and net revenue yields were computed by dividing the gross and net cruise revenues by ) Tj ET Q q 0 0 0 rg BT 456.62 728.10 Td (ALBDs as follows: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.34 728.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 671.60 183.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 671.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 671.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 671.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 671.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 671.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 671.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 671.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 671.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 671.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 643.60 183.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 643.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 643.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 643.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 643.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 643.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 643.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 643.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 643.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 643.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 615.60 183.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 615.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 615.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 615.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 615.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 615.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 615.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 615.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 615.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 615.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 587.60 183.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 587.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 587.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 587.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 587.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 587.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 587.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 587.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 587.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 587.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 558.60 183.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 558.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 558.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 558.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 558.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 558.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 558.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 558.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 558.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 558.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 528.60 183.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 528.60 70.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 528.60 4.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 528.60 70.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 528.60 4.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 528.60 70.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 528.60 4.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 528.60 70.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 528.60 4.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 528.60 70.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 524.60 183.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 524.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 524.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 524.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 524.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 524.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 491.60 183.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 491.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 491.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 491.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 491.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 491.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 491.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 491.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 491.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 491.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 462.60 183.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 462.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 462.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 462.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 462.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 462.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 462.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 462.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 462.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 462.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 433.60 183.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 433.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 433.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 433.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 433.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 433.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 433.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 433.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 433.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 433.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 404.60 183.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 404.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 404.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 404.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 404.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 404.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 404.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 404.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 404.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 404.60 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 704.6 m 284 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 704.6 m 288 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 704.6 m 358 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 704.6 m 362 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 704.6 m 432 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 704.6 m 436 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 704.6 m 506 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 704.6 m 510 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 704.6 m 580 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 671.6 m 284 671.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 671.6 m 358 671.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 671.6 m 432 671.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 671.6 m 506 671.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 704.6 m 580 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 671.6 m 580 671.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 643.6 m 284 643.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 643.6 m 358 643.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 643.6 m 432 643.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 643.6 m 506 643.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 643.6 m 580 643.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 587.6 m 506 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 587.6 m 580 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 587.6 m 284 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 573.6 m 284 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 587.6 m 358 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 573.6 m 358 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 587.6 m 432 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 573.6 m 432 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 587.6 m 506 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 573.6 m 506 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 587.6 m 580 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 573.6 m 580 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 543.6 m 284 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 529.6 m 284 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 527.6 m 284 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 543.6 m 358 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 529.6 m 358 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 527.6 m 358 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 543.6 m 432 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 529.6 m 432 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 527.6 m 432 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 543.6 m 506 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 529.6 m 506 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 527.6 m 506 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 543.6 m 580 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 529.6 m 580 529.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 527.6 m 580 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214 509.6 m 284 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 509.6 m 358 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 509.6 m 432 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 509.6 m 506 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 509.6 m 580 509.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 31 505.6 m 31 491.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 31 505.6 m 214 505.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 214 505.6 m 284 505.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 284 505.6 m 288 505.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 288 505.6 m 358 505.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 358 505.6 m 362 505.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 362 505.6 m 432 505.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 432 505.6 m 436 505.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 436 505.6 m 506 505.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 506 505.6 m 510 505.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 580 505.6 m 580 491.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 510 505.6 m 580 505.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 31 491.6 m 31 477.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 580 491.6 m 580 477.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 31 477.6 m 31 462.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 580 477.6 m 580 462.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 31 462.6 m 31 448.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 580 462.6 m 580 448.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 31 448.6 m 31 433.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 580 448.6 m 580 433.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 31 433.6 m 31 419.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 580 433.6 m 580 419.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 31 419.6 m 31 404.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 580 419.6 m 580 404.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 31 404.6 m 31 389.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 31 389.6 m 214 389.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 214 389.6 m 284 389.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 284 389.6 m 288 389.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 288 389.6 m 358 389.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 358 389.6 m 362 389.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 362 389.6 m 432 389.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 432 389.6 m 436 389.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 436 389.6 m 506 389.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 506 389.6 m 510 389.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 580 404.6 m 580 389.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 510 389.6 m 580 389.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.50 708.33 Td (Y) Tj ET Q q 0 0 0 rg BT 345.17 708.33 Td (ears Ended November) Tj ET Q q 0 0 0 rg BT 439.51 708.33 Td ( 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 33.50 676.31 Td (\(dollars in millions, except yields\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 238.50 676.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.80 686.28 Td (2018 Constant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.95 676.28 Td (Dollar) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.50 676.28 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.80 686.28 Td (2017 Constant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.95 676.28 Td (Dollar) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.50 676.28 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 33.50 662.17 Td (Passenger ticket revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.50 662.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 662.17 Td (13,930) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.50 662.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 662.17 Td (13,684) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.50 662.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 662.17 Td (12,944) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.50 662.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 662.17 Td (12,998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 662.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 662.17 Td (12,090) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 33.50 648.17 Td (Onboard and other revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.65 648.17 Td (4,679) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.65 648.17 Td (4,627) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 648.17 Td (4,330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 648.17 Td (4,338) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 648.17 Td (4,068) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 634.28 Td (Gr) Tj ET Q q 0 0 0 rg BT 45.63 634.28 Td (oss cruise r) Tj ET Q q 0 0 0 rg BT 93.21 634.28 Td (evenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 634.17 Td (18,609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 634.17 Td (18,31) Tj ET Q q 0 0 0 rg BT 344.15 634.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 634.17 Td (17,274) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 634.17 Td (17,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 634.17 Td (16,158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 33.50 620.17 Td (Less cruise costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 33.50 606.17 Td ( Commissions, transportation and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.30 606.17 Td (\(2,590) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 606.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.30 606.22 Td (\(2,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.15 606.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.30 606.22 Td (\(2,359) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 606.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.30 606.22 Td (\(2,371) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 606.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 606.17 Td (\(2,240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 571.15 606.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 33.50 592.17 Td ( Onboard and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.80 592.17 Td (\(638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 592.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.80 592.22 Td (\(630) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.15 592.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.80 592.22 Td (\(587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 592.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.80 592.22 Td (\(589) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 592.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.80 592.17 Td (\(553) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 571.15 592.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.30 578.17 Td (\(3,228) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 578.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.30 578.22 Td (\(3,156) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.15 578.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.30 578.22 Td (\(2,946) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 578.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.30 578.22 Td (\(2,960) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 578.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 578.17 Td (\(2,793) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 571.15 578.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 33.50 563.27 Td (Net passenger ticket revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 563.27 Td (1) Tj ET Q q 0 0 0 rg BT 252.65 563.27 Td (1,340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 563.27 Td (1) Tj ET Q q 0 0 0 rg BT 326.65 563.27 Td (1,158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 563.27 Td (10,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 563.27 Td (10,627) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 563.27 Td (9,850) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 33.50 548.27 Td (Net onboard and other revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.65 548.27 Td (4,041) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.65 548.27 Td (3,997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 548.27 Td (3,744) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 548.27 Td (3,749) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 548.27 Td (3,515) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 533.28 Td (Net cruise r) Tj ET Q q 0 0 0 rg BT 83.39 533.28 Td (evenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.50 533.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 533.27 Td (15,381) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.50 533.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 533.27 Td (15,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.50 533.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 533.27 Td (14,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.50 533.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 533.27 Td (14,376) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 533.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 533.27 Td (13,365) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 514.28 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.10 514.27 Td (83,872,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.10 514.27 Td (83,872,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.10 514.27 Td (82,302,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.10 514.27 Td (82,302,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.10 514.27 Td (80,002,092) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 496.28 Td (Gr) Tj ET Q q 0 0 0 rg BT 45.63 496.28 Td (oss r) Tj ET Q q 0 0 0 rg BT 65.17 496.28 Td (evenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.50 496.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 496.17 Td (221.87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.50 496.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 496.17 Td (218.32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.50 496.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 496.17 Td (209.88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.50 496.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 496.17 Td (210.63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 496.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 496.17 Td (201.97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 33.50 482.17 Td (% increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.65 482.17 Td (5.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 482.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 482.17 Td (4.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.15 482.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 482.17 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 482.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 482.17 Td (4.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 482.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 467.28 Td (Net r) Tj ET Q q 0 0 0 rg BT 55.25 467.28 Td (evenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.50 467.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 467.27 Td (183.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.50 467.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 467.27 Td (180.69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.50 467.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 467.27 Td (174.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.50 467.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 467.27 Td (174.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 467.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 467.27 Td (167.06) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 33.50 460.10 43.58 -9.09 re f /GS0 gs q 0 0 0 rg BT 33.50 453.17 Td (% increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.65 453.17 Td (5.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 453.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 453.17 Td (3.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.15 453.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 453.17 Td (4.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 453.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 453.17 Td (4.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 453.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 42.50 438.28 Td (Net passenger) Tj ET Q q 0 0 0 rg BT 102.12 438.28 Td ( ticket r) Tj ET Q q 0 0 0 rg BT 135.26 438.28 Td (evenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.50 438.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 438.27 Td (135.21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.50 438.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 438.27 Td (133.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.50 438.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 438.27 Td (128.62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.50 438.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 438.27 Td (129.12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 438.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 438.27 Td (123.1) Tj ET Q q 0 0 0 rg BT 566.15 438.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 42.50 424.17 Td (% increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.65 424.17 Td (5.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 424.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 424.17 Td (3.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.15 424.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 424.17 Td (4.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 424.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 424.17 Td (4.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 424.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 42.50 409.28 Td (Net onboard and other) Tj ET Q q 0 0 0 rg BT 139.82 409.28 Td ( r) Tj ET Q q 0 0 0 rg BT 146.58 409.28 Td (evenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.50 409.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.65 409.27 Td (48.17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.50 409.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.65 409.27 Td (47.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.50 409.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 409.27 Td (45.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.50 409.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 409.27 Td (45.55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 409.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 409.27 Td (43.95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 42.50 394.27 Td (% increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.65 394.27 Td (5.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 394.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 394.27 Td (4.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.15 394.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 394.27 Td (3.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 394.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 394.27 Td (3.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 394.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 321.60 192.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 321.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 321.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 321.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 321.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 321.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 321.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 321.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 321.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 321.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 291.60 192.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 291.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 291.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 291.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 291.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 291.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 291.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 291.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 291.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 291.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 253.60 192.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 253.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 253.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 253.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 253.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 253.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 253.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 253.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 253.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 253.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 223.60 192.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 223.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 223.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 223.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 223.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 223.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 223.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 223.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 223.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 223.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 193.60 192.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 193.60 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 193.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 193.60 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 193.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 193.60 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 193.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 193.60 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 193.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 193.60 70.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 354.6 m 288.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 321.6 m 288.5 321.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 354.6 m 292.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 354.6 m 362.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 321.6 m 362.5 321.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 354.6 m 366.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 354.6 m 436.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 321.6 m 436.5 321.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 354.6 m 440.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 354.6 m 510.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 321.6 m 510.5 321.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 354.6 m 514.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 354.6 m 584.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 321.6 m 584.5 321.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 291.6 m 288.5 291.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 291.6 m 362.5 291.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 291.6 m 288.5 291.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 277.6 m 288.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 275.6 m 288.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 291.6 m 362.5 291.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 277.6 m 362.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 275.6 m 362.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 291.6 m 436.5 291.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 277.6 m 436.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 275.6 m 436.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 291.6 m 510.5 291.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 277.6 m 510.5 277.6 l s 0 0 0 RG /GS0 gs 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161.60000000000002 m 288.5 161.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 161.60000000000002 m 292.5 161.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 161.60000000000002 m 362.5 161.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 161.60000000000002 m 366.5 161.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 161.60000000000002 m 436.5 161.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 161.60000000000002 m 440.5 161.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 161.60000000000002 m 510.5 161.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 161.60000000000002 m 514.5 161.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 584.5 177.60000000000002 m 584.5 161.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 161.60000000000002 m 584.5 161.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.00 358.33 Td (Y) Tj ET Q q 0 0 0 rg BT 349.67 358.33 Td (ears Ended November) Tj ET Q q 0 0 0 rg BT 444.01 358.33 Td ( 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 29.00 326.31 Td (\(dollars in millions, except yields\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 243.00 326.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.30 336.28 Td (2018 Constant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.50 326.28 Td (Curr) Tj ET Q q 0 0 0 rg BT 328.07 326.28 Td (ency) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.00 326.28 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.30 336.28 Td (2017 Constant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.50 326.28 Td (Curr) Tj ET Q q 0 0 0 rg BT 476.07 326.28 Td (ency) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.00 326.28 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 311.27 Td (Net passenger ticket revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.00 311.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.15 311.27 Td (1) Tj ET Q q 0 0 0 rg BT 257.15 311.27 Td (1,340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 311.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 311.27 Td (1) Tj ET Q q 0 0 0 rg BT 331.15 311.27 Td (1,137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 311.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 311.27 Td (10,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 311.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 311.27 Td (10,632) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.00 311.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 311.27 Td (9,850) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 296.27 Td (Net onboard and other revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.15 296.27 Td (4,041) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 296.27 Td (4,008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 296.27 Td (3,744) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 296.27 Td (3,741) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 296.27 Td (3,515) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 281.28 Td (Net cruise r) Tj ET Q q 0 0 0 rg BT 78.89 281.28 Td (evenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.00 281.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.15 281.27 Td (15,381) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 281.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 281.27 Td (15,145) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 281.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 281.27 Td (14,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 281.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 281.27 Td (14,373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.00 281.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 281.27 Td (13,365) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 262.28 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.60 262.27 Td (83,872,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.60 262.27 Td (83,872,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.60 262.27 Td (82,302,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 262.27 Td (82,302,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 262.27 Td (80,002,092) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 243.28 Td (Net r) Tj ET Q q 0 0 0 rg BT 59.84 243.28 Td (evenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.00 243.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.15 243.27 Td (183.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 243.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 243.27 Td (180.57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 243.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 243.27 Td (174.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 243.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 243.27 Td (174.63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.00 243.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 243.27 Td (167.06) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 38.00 228.27 Td (% increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 228.27 Td (5.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.65 228.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 228.27 Td (3.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 228.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 228.27 Td (4.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 228.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 228.27 Td (4.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.65 228.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 213.28 Td (Net passenger) Tj ET Q q 0 0 0 rg BT 97.62 213.28 Td ( ticket r) Tj ET Q q 0 0 0 rg BT 130.76 213.28 Td (evenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.00 213.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.15 213.27 Td (135.21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 213.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 213.27 Td (132.79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 213.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 213.27 Td (128.62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 213.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 213.27 Td (129.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.00 213.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 213.27 Td (123.1) Tj ET Q q 0 0 0 rg BT 575.65 213.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 38.00 198.27 Td (% increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 198.27 Td (5.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.65 198.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 198.27 Td (3.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 198.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 198.27 Td (4.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 198.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 198.27 Td (4.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.65 198.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 182.28 Td (Net onboard and other) Tj ET Q q 0 0 0 rg BT 135.32 182.28 Td ( r) Tj ET Q q 0 0 0 rg BT 142.08 182.28 Td (evenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.00 182.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.15 182.27 Td (48.17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 182.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 182.27 Td (47.78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 182.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 182.27 Td (45.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 182.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 182.27 Td (45.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.00 182.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 182.27 Td (43.95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 38.00 166.27 Td (% increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 166.27 Td (5.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.65 166.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 166.27 Td (5.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 166.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 166.27 Td (3.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 166.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 166.27 Td (3.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.65 166.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 187 0 obj <>] /Rotate 0 /Contents 188 0 R>> endobj 188 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 33.60 Td (F-42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 740.10 Td (Consolidated gross and net cruise costs and net cruise costs excluding fuel per ) Tj ET Q q 0 0 0 rg BT 341.65 740.10 Td (ALBD were computed by dividing the gross and net cruise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 728.10 Td (costs and net cruise costs excluding fuel by ) Tj ET Q q 0 0 0 rg BT 201.96 728.10 Td (ALBDs as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.18 728.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 27.00 671.60 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 248.00 671.60 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 671.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 671.60 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 671.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 671.60 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 671.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 671.60 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 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/F2 10.00 Tf ET q 0 0 0 rg BT 333.95 675.33 Td (Dollar) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.50 676.28 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.50 695.33 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.05 685.33 Td (Constant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.95 675.33 Td (Dollar) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.50 676.28 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.50 662.17 Td (Cruise operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.50 662.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.25 662.17 Td (10,910) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 662.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.25 662.17 Td (10,740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.50 662.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.25 662.17 Td (10,338) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.50 662.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.25 662.17 Td (10,372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.50 662.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 662.17 Td (9,231) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.50 648.17 Td (Cruise selling and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.25 648.17 Td (2,422) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.25 648.17 Td (2,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.25 648.17 Td (2,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.25 648.17 Td (2,259) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 648.17 Td (2,188) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.50 634.28 Td (Gr) Tj ET Q q 0 0 0 rg BT 41.63 634.28 Td (oss cruise costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.25 634.17 Td (13,332) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.25 634.17 Td (13,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.25 634.17 Td (12,588) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.25 634.17 Td (12,631) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 634.17 Td (1) Tj ET Q q 0 0 0 rg BT 552.65 634.17 Td (1,419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.50 620.17 Td (Less cruise costs included above) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.50 606.17 Td (Commissions, transportation and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.95 606.17 Td (\(2,590) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.80 606.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.95 606.17 Td (\(2,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.80 606.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.95 606.17 Td (\(2,359) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.80 606.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.95 606.17 Td (\(2,371) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.80 606.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 606.17 Td (\(2,240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 575.15 606.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.50 592.17 Td (Onboard and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.45 592.17 Td (\(638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.80 592.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.45 592.17 Td (\(630) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.80 592.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.45 592.17 Td (\(587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.80 592.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.45 592.17 Td (\(589) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.80 592.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.80 592.17 Td (\(553) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 575.15 592.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.50 578.17 Td (Gains \(losses\) on ship sales and impairments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.80 578.17 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.80 578.17 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.45 578.17 Td (\(298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.80 578.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.45 578.17 Td (\(288) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.80 578.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 570.15 578.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.50 564.17 Td (Restructuring expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.45 564.17 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.80 564.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.45 564.17 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.80 564.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.45 564.17 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.80 564.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.45 564.17 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.80 564.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 566.80 564.17 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 575.15 564.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 41.50 557.10 22.77 -9.09 re f /GS0 gs q 0 0 0 rg BT 41.50 550.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.45 550.17 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.80 550.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.45 550.17 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.80 550.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.80 550.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.80 550.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.80 550.17 Td (\(41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 575.15 550.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.50 537.33 Td (Net cruise costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.25 537.17 Td (10,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.25 537.17 Td (10,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.25 537.17 Td (9,341) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.25 537.17 Td (9,380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 537.17 Td (8,585) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.50 531.10 36.38 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.50 524.17 Td (Less fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.95 524.17 Td (\(1,619) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.80 524.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.95 524.17 Td (\(1,619) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.80 524.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.95 524.17 Td (\(1,244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.80 524.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.95 524.17 Td (\(1,244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.80 524.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.80 524.17 Td (\(915) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 575.15 524.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.50 510.28 Td (Net cruise costs excluding fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.50 510.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.25 510.17 Td (8,521) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 510.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.25 510.17 Td (8,382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.50 510.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.25 510.17 Td (8,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.50 510.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.25 510.17 Td (8,136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.50 510.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 510.17 Td (7,670) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.50 491.28 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.75 491.27 Td (83,872,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.75 491.27 Td (83,872,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.75 491.27 Td (82,302,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.75 491.27 Td (82,302,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 491.27 Td (80,002,092) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.50 473.28 Td (Gr) Tj ET Q q 0 0 0 rg BT 41.63 473.28 Td (oss cruise costs per) Tj ET Q q 0 0 0 rg BT 122.27 473.28 Td ( ) Tj ET Q q 0 0 0 rg BT 124.40 473.28 Td (ALBD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.50 473.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.25 473.17 Td (158.96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 473.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.25 473.17 Td (156.49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.50 473.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.25 473.17 Td (152.94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.50 473.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.25 473.17 Td (153.46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.50 473.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 473.17 Td (142.73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.50 458.27 Td (% increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.30 458.27 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.15 458.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.30 458.27 Td (2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 458.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.30 458.27 Td (7.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 458.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.30 458.27 Td (7.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.15 458.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.50 443.28 Td (Net cruise costs excluding fuel per) Tj ET Q q 0 0 0 rg BT 174.57 443.28 Td ( ) Tj ET Q q 0 0 0 rg BT 176.52 443.28 Td (ALBD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.50 443.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.25 443.27 Td (101.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 443.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.25 443.27 Td (99.93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.50 443.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.25 443.27 Td (98.37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.50 443.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.25 443.27 Td (98.84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.50 443.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 443.27 Td (95.87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.50 429.17 Td (% increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.30 429.17 Td (3.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.15 429.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.30 429.17 Td (1.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 429.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.30 429.17 Td (2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 429.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.30 429.17 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.15 429.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 344.60 192.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 344.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 344.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 344.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 344.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 344.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 344.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 344.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 344.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 344.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 308.60 192.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 308.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 308.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 308.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 308.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 308.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 308.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 308.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 308.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 308.60 70.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 377.6 m 288.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 377.6 m 292.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 377.6 m 362.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 377.6 m 366.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 377.6 m 436.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 377.6 m 440.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 377.6 m 510.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 377.6 m 514.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 377.6 m 584.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 344.6 m 288.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 344.6 m 362.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 344.6 m 436.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 344.6 m 510.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 344.6 m 584.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 331.6 m 288.5 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 329.6 m 288.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 331.6 m 362.5 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 329.6 m 362.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 331.6 m 436.5 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 329.6 m 436.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 344.6 m 510.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 331.6 m 510.5 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 329.6 m 510.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 344.6 m 584.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 331.6 m 584.5 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 329.6 m 584.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 329.6 m 288.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 331.6 m 288.5 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 329.6 m 362.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 331.6 m 362.5 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 329.6 m 436.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 331.6 m 436.5 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 329.6 m 510.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 331.6 m 510.5 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 329.6 m 584.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 331.6 m 584.5 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218.5 312.6 m 288.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 312.6 m 362.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 312.6 m 436.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 312.6 m 510.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 312.6 m 584.5 312.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 308.6 m 26.5 294.6 l s 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 26.5 308.6 m 218.5 308.6 l s 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 218.5 308.6 m 288.5 308.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 308.6 m 292.5 308.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 308.6 m 362.5 308.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 308.6 m 366.5 308.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 308.6 m 436.5 308.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 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280.6 m 510.5 280.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 280.6 m 514.5 280.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 584.5 294.6 m 584.5 280.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 280.6 m 584.5 280.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.00 381.33 Td (Y) Tj ET Q q 0 0 0 rg BT 349.67 381.33 Td (ears Ended November) Tj ET Q q 0 0 0 rg BT 444.01 381.33 Td ( 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 29.00 349.31 Td (\(dollars in millions, except costs per ) Tj ET Q q 0 0 0 rg BT 176.86 349.31 Td (ALBD\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 243.00 349.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.30 359.28 Td (2018 Constant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.50 349.28 Td (Curr) Tj ET Q q 0 0 0 rg BT 328.07 349.28 Td (ency) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.00 349.28 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.30 359.28 Td (2017 Constant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.50 349.28 Td (Curr) Tj ET Q q 0 0 0 rg BT 476.07 349.28 Td (ency) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.00 349.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 335.28 Td (Net cruise costs excluding fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.00 335.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.15 335.17 Td (8,521) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 335.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 335.17 Td (8,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 335.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 335.17 Td (8,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 335.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 335.17 Td (8,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.00 335.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 335.17 Td (7,670) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 317.28 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.60 317.17 Td (83,872,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.60 317.17 Td (83,872,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.60 317.17 Td (82,302,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 317.17 Td (82,302,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 317.17 Td (80,002,092) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 299.28 Td (Net cruise costs excluding fuel per) Tj ET Q q 0 0 0 rg BT 174.07 299.28 Td ( ) Tj ET Q q 0 0 0 rg BT 176.02 299.28 Td (ALBD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.00 299.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.15 299.17 Td (101.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 299.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 299.17 Td (99.98) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 299.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 299.17 Td (98.37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 299.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 299.17 Td (98.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.00 299.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 299.17 Td (95.87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 285.17 Td (% increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 285.17 Td (3.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.65 285.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 285.17 Td (1.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 285.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 285.17 Td (2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 285.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 285.17 Td (2.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.65 285.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 189 0 obj <>] /Rotate 0 /Contents 190 0 R>> endobj 190 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg 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0.9333333333333333 1 rg /GS0 gs 26.50 592.50 325.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 592.50 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 592.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 592.50 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 592.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 592.50 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 563.50 325.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 563.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 563.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 563.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 563.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 563.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 533.50 325.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 533.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 533.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 533.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 533.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 533.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 503.50 325.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 503.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 503.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 503.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 503.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 503.50 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 732.5 m 426.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 732.5 m 430.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 732.5 m 505.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 732.5 m 509.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 732.5 m 584.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 718.5 m 426.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 732.5 m 505.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 718.5 m 505.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 732.5 m 584.5 732.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 718.5 m 584.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 629.5 m 426.5 629.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 629.5 m 505.5 629.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 629.5 m 584.5 629.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 629.5 m 426.5 629.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 616.5 m 426.5 616.5 l s 0 0 0 RG /GS0 gs 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0 i [] 0 d 0 J 0 j 3 M 26.5 518.5 m 26.5 503.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 584.5 518.5 m 584.5 503.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 503.5 m 26.5 488.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 503.5 m 426.5 503.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 489.5 m 426.5 489.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 487.5 m 426.5 487.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 503.5 m 505.5 503.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 489.5 m 505.5 489.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 487.5 m 505.5 487.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 584.5 503.5 m 584.5 488.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 503.5 m 584.5 503.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 489.5 m 584.5 489.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 487.5 m 584.5 487.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 488.5 m 26.5 484.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 26.5 484.5 m 351.5 484.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 484.5 m 426.5 484.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 484.5 m 430.5 484.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 484.5 m 505.5 484.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 484.5 m 509.5 484.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 584.5 488.5 m 584.5 484.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 484.5 m 584.5 484.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.50 737.18 Td (Y) Tj ET Q q 0 0 0 rg BT 416.17 737.18 Td (ears Ended November) Tj ET Q q 0 0 0 rg BT 510.51 737.18 Td ( 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 29.00 723.06 Td (\(dollars in millions, except per shar) Tj ET Q q 0 0 0 rg BT 171.95 723.06 Td (e data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.50 723.18 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 723.18 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.50 723.18 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 709.18 Td (Net income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 694.18 Td ( U.S. GAAP) Tj ET Q q 0 0 0 rg BT 89.84 694.18 Td ( net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 694.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 694.17 Td (3,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.00 694.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 694.17 Td (2,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.00 694.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 694.17 Td (2,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 679.17 Td ( Unrealized \(gains\) losses on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.30 679.22 Td (\(94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 679.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 679.22 Td (\(227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.65 679.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.30 679.17 Td (\(236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 580.65 679.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 664.17 Td ( \(Gains\) losses on ship sales and impairments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.30 664.22 Td (\(38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 664.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 664.17 Td (387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 572.30 664.17 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 580.65 664.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 656.10 105.53 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.00 649.17 Td ( Restructuring expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.65 649.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 649.17 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 575.65 649.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 634.17 Td ( Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.65 634.17 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 634.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 570.65 634.17 Td (37) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 626.95 99.72 -8.93 re f /GS0 gs q 0 0 0 rg BT 29.00 620.18 Td ( ) Tj ET Q q 0 0 0 rg BT 40.95 620.18 Td (Adjusted net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 620.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 620.07 Td (3,029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.00 620.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 620.07 Td (2,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.00 620.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 620.07 Td (2,580) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 601.18 Td (W) Tj ET Q q 0 0 0 rg BT 38.72 601.18 Td (eighted-average shar) Tj ET Q q 0 0 0 rg BT 127.50 601.18 Td (es outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 601.17 Td (710) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 601.17 Td (725) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.65 601.17 Td (747) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 589.95 81.31 -8.93 re f /GS0 gs q 0 0 0 rg BT 29.00 583.18 Td (Earnings per) Tj ET Q q 0 0 0 rg BT 84.66 583.18 Td ( shar) Tj ET Q q 0 0 0 rg BT 105.87 583.18 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.00 568.18 Td ( U.S. GAAP) Tj ET Q q 0 0 0 rg BT 89.56 568.18 Td ( earnings per) Tj ET Q q 0 0 0 rg BT 145.49 568.18 Td ( shar) Tj ET Q q 0 0 0 rg BT 166.70 568.18 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 568.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 568.17 Td (4.44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.00 568.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 568.17 Td (3.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.00 568.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 563.15 568.17 Td (3.72) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 560.10 207.16 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.00 553.17 Td ( Unrealized \(gains\) losses on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.80 553.22 Td (\(0.13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 553.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.80 553.22 Td (\(0.31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.65 553.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.80 553.17 Td (\(0.32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 580.65 553.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 538.17 Td ( \(Gains\) losses on ship sales and impairments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.80 538.22 Td (\(0.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 538.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 538.17 Td (0.53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 570.65 538.17 Td () Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 530.10 105.53 -9.09 re f /GS0 gs q 0 0 0 rg BT 29.00 523.17 Td ( Restructuring expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 523.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 523.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 570.65 523.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 508.17 Td ( Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 508.17 Td (0.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 508.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 563.15 508.17 Td (0.05) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 29.00 499.95 132.42 -8.93 re f /GS0 gs q 0 0 0 rg BT 29.00 493.18 Td ( ) Tj ET Q q 0 0 0 rg BT 40.95 493.18 Td (Adjusted earnings per) Tj ET Q q 0 0 0 rg BT 135.77 493.18 Td ( shar) Tj ET Q q 0 0 0 rg BT 156.98 493.18 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 493.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 493.17 Td (4.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.00 493.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 493.17 Td (3.82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.00 493.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 563.15 493.17 Td (3.45) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 461.00 Td (Net cruise revenues increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.11 461.00 Td ($1.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.22 461.00 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.05 461.00 Td (7.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.88 461.00 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.16 461.00 Td ($15.4 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.27 461.00 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.05 461.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.05 461.00 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.49 461.00 Td ($14.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.99 461.00 Td ( billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.38 461.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.38 461.00 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.38 461.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 437.00 Td (The increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.84 437.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 425.00 Td ($545 million - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.72 425.00 Td (3.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.55 425.00 Td ( increase in constant currency net revenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.63 425.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 413.00 Td ($271 million - 1.9% capacity increase in ) Tj ET Q q 0 0 0 rg BT 226.84 413.00 Td (ALBDs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.46 413.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 401.00 Td ($236 million - foreign currency impacts \(including both foreign currency translational and transactional impacts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 401.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 377.00 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.05 377.00 Td (3.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.88 377.00 Td ( increase in net revenue yields on a constant currency basis was due to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.60 377.00 Td (3.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.43 377.00 Td ( increase in net passenger ticket revenue yields and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 365.00 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 33.94 365.00 Td (5.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.77 365.00 Td ( increase in net onboard and other revenue yields.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.30 365.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 341.00 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.05 341.00 Td (3.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.88 341.00 Td ( increase in net passenger ticket revenue yields was driven primarily by price improvements in our European, ) Tj ET Q q 0 0 0 rg BT 505.18 341.00 Td (Australian, China ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 329.00 Td (and various other programs. ) Tj ET Q q 0 0 0 rg BT 141.51 329.00 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.79 329.00 Td (3.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.62 329.00 Td ( increase in net passenger ticket revenue yields was comprised of a 2.4% increase from our NAA) Tj ET Q q 0 0 0 rg BT 569.98 329.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 317.00 Td (segment and a 4.8% increase from our EA) Tj ET Q q 0 0 0 rg BT 195.83 317.00 Td ( segment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.16 317.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 293.00 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.05 293.00 Td (5.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.88 293.00 Td ( increase in net onboard and other revenue yields was caused by similar increases in our NAA) Tj ET Q q 0 0 0 rg BT 441.31 293.00 Td ( and EA) Tj ET Q q 0 0 0 rg BT 473.53 293.00 Td ( segments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.75 293.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 269.00 Td (Net cruise costs excluding fuel increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.55 269.00 Td ($425) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.55 269.00 Td ( million, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.77 269.00 Td (5.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.60 269.00 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.88 269.00 Td ($8.5 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.99 269.00 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.77 269.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.77 269.00 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.21 269.00 Td ($8.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.32 269.00 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.10 269.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.10 269.00 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.10 269.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 245.00 Td (The increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.84 245.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 233.00 Td ($155 million - 1.9% capacity increase in ) Tj ET Q q 0 0 0 rg BT 226.84 233.00 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.96 233.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 221.00 Td ($135 million - foreign currency impacts \(including both foreign currency translational and transactional impacts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 221.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 209.00 Td ($134 million - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.72 209.00 Td (1.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.55 209.00 Td ( increase in constant currency net cruise costs excluding fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.96 209.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 185.00 Td (Fuel costs increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.53 185.00 Td ($374) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.53 185.00 Td ( million, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.75 185.00 Td (30%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.08 185.00 Td (, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.36 185.00 Td ($1.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.48 185.00 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.25 185.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.25 185.00 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.69 185.00 Td ($1.2 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.81 185.00 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.58 185.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.58 185.00 Td (. ) Tj ET Q q 0 0 0 rg BT 410.40 185.00 Td (This was driven by higher fuel prices, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 173.00 Td (which accounted for $370 million. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.52 173.00 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 149.00 Td (2017 Compar) Tj ET Q q 0 0 0 rg BT 84.87 149.00 Td (ed to 2016 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 125.00 Td ( Revenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 101.00 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 77.00 Td (Cruise passenger ticket revenues made up 74% of our 2017 total revenues.Cruise passenger ticket revenues increased by $854 million, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 65.00 Td (7.1%, to $12.9 billion in 2017 from $12.1 billion in 2016. ) Tj ET Q endstream endobj 191 0 obj <>] /Rotate 0 /Contents 192 0 R>> endobj 192 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 33.60 Td (F-44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 740.10 Td (This increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 728.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 728.10 Td ($517 million - increase in cruise ticket revenues, driven primarily by price improvements in our Caribbean, European and ) Tj ET Q q 0 0 0 rg BT 551.74 728.10 Td (Alaska ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 716.10 Td (programs, partially of) Tj ET Q q 0 0 0 rg BT 149.74 716.10 Td (fset by decrease in our China programs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 704.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 704.10 Td ($348 million - 2.9% capacity increase in ) Tj ET Q q 0 0 0 rg BT 226.84 704.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 692.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 692.10 Td ($55 million - increase in other passenger revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 668.10 Td (These increases were partially of) Tj ET Q q 0 0 0 rg BT 176.42 668.10 Td (fset by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 656.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 656.10 Td ($54 million - foreign currency translational impact) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 644.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 644.10 Td ($20 million - decrease in air transportation revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 620.10 Td (The remaining 26% of 2017 total revenues were substantially all comprised of onboard and other cruise revenues, which increased by $262 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 608.10 Td (million, or 6.4%, to $4.3 billion in 2017 from $4.1 billion in 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 584.10 Td (This increase was driven by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 572.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 572.10 Td ($124 million - higher onboard spending by our guests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 560.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 560.10 Td ($1) Tj ET Q q 0 0 0 rg BT 72.63 560.10 Td (17 million - 2.9% capacity increase in ) Tj ET Q q 0 0 0 rg BT 226.47 560.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 536.10 Td (Concession revenues, which are included in onboard and other revenues, increased by $18 million, or 1.8%, to $1.1 billion in 2017 from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 524.10 Td ($1.0 billion in 2016. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 500.10 Td (NAA) Tj ET Q q 0 0 0 rg BT 75.11 500.10 Td ( Segment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 476.10 Td (Cruise passenger ticket revenues made up 72% of our NAA) Tj ET Q q 0 0 0 rg BT 265.54 476.10 Td ( segment) Tj ET Q q 0 0 0 rg BT 304.15 476.10 Td (s 2017 total revenues.Cruise passenger ticket revenues increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 464.10 Td ($666 million, or 8.8% to $8.3 billion in 2017 from $7.6 billion in 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 440.10 Td (This increase was driven by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 428.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 428.10 Td ($390 million - increase in cruise ticket revenues, driven primarily by price improvements in the Caribbean, European and ) Tj ET Q q 0 0 0 rg BT 550.63 428.10 Td (Alaska ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 416.10 Td (programs, partially of) Tj ET Q q 0 0 0 rg BT 149.74 416.10 Td (fset by decrease in the China programs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 404.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 404.10 Td ($214 million - 2.8% capacity increase in ) Tj ET Q q 0 0 0 rg BT 226.84 404.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 392.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 392.10 Td ($29 million - increase in other passenger revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 380.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 380.10 Td ($26 million - increase in occupancy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 356.10 Td (The remaining 28% of our NAA) Tj ET Q q 0 0 0 rg BT 156.69 356.10 Td ( segment) Tj ET Q q 0 0 0 rg BT 195.30 356.10 Td (s 2017 total revenues were comprised of onboard and other cruise revenues, which increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 344.10 Td ($213 million, or 7.2%, to $3.2 billion in 2017 from $3.0 billion in 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 320.10 Td (The increase was driven by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 308.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 308.10 Td ($96 million - higher onboard spending by our guests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 296.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 296.10 Td ($83 million - 2.8% capacity increase in ) Tj ET Q q 0 0 0 rg BT 221.84 296.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 272.10 Td (Concession revenues, which are included in onboard and other revenues, increased by $19 million, or 3.0%, to $751 million in 2017 from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 260.10 Td ($732 million in 2016. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 236.10 Td (EA) Tj ET Q q 0 0 0 rg BT 67.34 236.10 Td ( Segment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 212.10 Td (Cruise passenger ticket revenues made up 82% of our EA) Tj ET Q q 0 0 0 rg BT 257.21 212.10 Td ( segment) Tj ET Q q 0 0 0 rg BT 295.81 212.10 Td (s 2017 total revenues.Cruise passenger ticket revenues increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 200.10 Td ($178 million, or 4.0%, to $4.7 billion in 2017 from $4.5 billion in 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 176.10 Td (This increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 164.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 164.10 Td ($135 million - 3.0% capacity increase in ) Tj ET Q q 0 0 0 rg BT 226.84 164.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 152.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 152.10 Td ($123 million - increase in cruise ticket revenues, driven primarily by price improvements in the European programs, partially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 140.10 Td (of) Tj ET Q q 0 0 0 rg BT 71.15 140.10 Td (fset by decrease in the China programs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 116.10 Td (These increases were partially of) Tj ET Q q 0 0 0 rg BT 176.42 116.10 Td (fset by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 104.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 104.10 Td ($63 million - foreign currency translational impact) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 80.10 Td (The remaining 18% of our EA) Tj ET Q q 0 0 0 rg BT 148.36 80.10 Td ( segment) Tj ET Q q 0 0 0 rg BT 186.96 80.10 Td (s 2017 total revenues were comprised of onboard and other cruise revenues, which increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 68.10 Td ($60 million, or 6.3%, to $1.0 billion in 2017 from $0.9 billion in 2016. ) Tj ET Q endstream endobj 193 0 obj <>] /Rotate 0 /Contents 194 0 R>> endobj 194 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 33.60 Td (F-45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 740.10 Td (The increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 728.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 728.10 Td ($42 million - higher onboard spending by our guests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 716.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 716.10 Td ($28 million - 3.0% capacity increase in ) Tj ET Q q 0 0 0 rg BT 224.34 716.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 692.10 Td (Concession revenues, which are included in onboard and other revenues, remained flat at $301 million in 2017 and 2016.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.00 668.10 Td (Costs and Expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 644.10 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 620.10 Td (Operating costs and expenses increased by $1.1 billion or 12%, to $10.5 billion in 2017 from $9.4 billion in 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 596.10 Td (This increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 584.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 584.10 Td ($314 million - higher fuel prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 572.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 572.10 Td ($304 million - impairment of ships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 560.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 560.10 Td ($265 million - 2.9% capacity increase in ) Tj ET Q q 0 0 0 rg BT 226.84 560.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 548.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 548.10 Td ($68 million - higher cruise payroll and related expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 536.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 536.10 Td ($67 million - higher port expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 524.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 524.10 Td ($65 million - higher commissions, transportation and other expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 512.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 512.10 Td ($64 million - higher dry-dock expenses and repair and maintenance expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 488.10 Td (These increases were partially of) Tj ET Q q 0 0 0 rg BT 176.42 488.10 Td (fset by foreign currency translational impact, which accounted for $34 million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 464.10 Td (Selling and administrative expenses increased by $68 million, or 3.1%, to $2.3 billion in 2017 from $2.2 billion in 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 440.10 Td (Depreciation and amortization expenses increased by $108 million, or 6.2%, to $1.8 billion in 2017 from $1.7 billion in 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 416.10 Td (Goodwill and trademark impairment char) Tj ET Q q 0 0 0 rg BT 192.87 416.10 Td (ges of $89 million include a goodwill impairment char) Tj ET Q q 0 0 0 rg BT 410.98 416.10 Td (ge of $38 million and a trademark ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 404.10 Td (impairment char) Tj ET Q q 0 0 0 rg BT 92.63 404.10 Td (ge of $50 million during the third quarter of 2017.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 380.10 Td (NAA) Tj ET Q q 0 0 0 rg BT 75.11 380.10 Td ( Segment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 356.10 Td (Operating costs and expenses increased by $743 million, or 13%, to $6.7 billion in 2017 from $6.0 billion in 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 332.10 Td (This increase was driven by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 320.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 320.10 Td ($207 million - higher fuel prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 308.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 308.10 Td ($168 million - 2.8% capacity increase in ) Tj ET Q q 0 0 0 rg BT 226.84 308.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 296.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 296.10 Td ($162 million - impairment of ships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 284.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 284.10 Td ($80 million - higher commissions, transportation and other expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 272.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 272.10 Td ($42 million - higher port expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 260.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 260.10 Td ($41 million - higher cruise payroll and related expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 248.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 248.10 Td ($24 million - higher dry-dock expenses and repair and maintenance expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 224.10 Td (Selling and administrative expenses increased by $64 million, or 5.1%, and were $1.3 billion in 2017 and 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 200.10 Td (Depreciation and amortization expenses increased by $77 million, or 6.9%, to $1.2 billion in 2017 from $1.1 billion in 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 176.10 Td (Goodwill and trademark impairment char) Tj ET Q q 0 0 0 rg BT 192.87 176.10 Td (ges of $89 million include a goodwill impairment char) Tj ET Q q 0 0 0 rg BT 410.98 176.10 Td (ge of $38 million and a trademark ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 164.10 Td (impairment char) Tj ET Q q 0 0 0 rg BT 92.63 164.10 Td (ge of $50 million during the third quarter of 2017.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.00 140.10 Td (EA) Tj ET Q q 0 0 0 rg BT 71.34 140.10 Td ( Segment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 116.10 Td (Operating costs and expenses increased by $365 million, or 1) Tj ET Q q 0 0 0 rg BT 272.13 116.10 Td (1%, to $3.6 billion in 2017 from $3.2 billion in 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 92.10 Td (This increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 80.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 80.10 Td ($141 million - impairment of ships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 68.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 68.10 Td ($107 million - higher fuel prices) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 56.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 56.10 Td ($95 million - 3.0% capacity increase in ) Tj ET Q q 0 0 0 rg BT 221.84 56.10 Td (ALBDs) Tj ET Q endstream endobj 195 0 obj <>] /Rotate 0 /Contents 196 0 R>> endobj 196 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 33.60 Td (F-46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 740.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 740.10 Td ($43 million - higher dry-dock expenses and repair and maintenance expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 728.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 728.10 Td ($26 million - higher port expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 716.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 716.10 Td ($21 million - higher cruise payroll and related expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 692.10 Td (These increases were partially of) Tj ET Q q 0 0 0 rg BT 176.42 692.10 Td (fset by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 680.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 680.10 Td ($49 million - foreign currency translational impact) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 668.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 668.10 Td ($23 million - decrease in air transportation costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 644.10 Td (Selling and administrative expenses increased by $29 million, or 4.5%, to $667 million in 2017 from $638 million in 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 620.10 Td (Depreciation and amortization expenses increased by $23 million, or 4.3%, to $561 million in 2017 from $538 million in 2016. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.00 596.10 Td (Operating Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 572.10 Td (Our consolidated operating income decreased by $262 million, or 8.5%, to $2.8 billion in 2017 from $3.1 billion in 2016. Our NAA) Tj ET Q q 0 0 0 rg BT 554.42 572.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 560.10 Td (segment) Tj ET Q q 0 0 0 rg BT 63.10 560.10 Td (s operating income decreased by $94 million, or 4.3%, to $2.1 billion in 2017 from $2.2 billion in 2016, and our EA) Tj ET Q q 0 0 0 rg BT 527.21 560.10 Td ( segment) Tj ET Q q 0 0 0 rg BT 565.81 560.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 548.10 Td (operating income decreased by $179 million, or 16%, to $0.9 billion in 2017 from $1.1 billion in 2016. ) Tj ET Q q 0 0 0 rg BT 441.48 548.10 Td (These changes were primarily due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 536.10 Td (to the reasons discussed above.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 512.10 Td (Nonoperating Expense) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 459.60 418.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 459.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 459.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 459.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 429.60 418.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 429.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 429.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 429.60 68.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 474.6 m 512.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 474.6 m 516.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 474.6 m 584.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 474.6 m 512.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 459.6 m 512.5 459.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 474.6 m 584.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 459.6 m 584.5 459.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 459.6 m 512.5 459.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 459.6 m 584.5 459.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 429.6 m 512.5 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 415.6 m 512.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 413.6 m 512.5 413.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 429.6 m 584.5 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 415.6 m 584.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 413.6 m 584.5 413.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.00 479.28 Td (Y) Tj ET Q q 0 0 0 rg BT 462.67 479.28 Td (ears Ended November) Tj ET Q q 0 0 0 rg BT 557.01 479.28 Td ( 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 29.00 464.31 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.00 464.28 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 540.00 464.28 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 449.27 Td (Unrealized gains on fuel derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.00 449.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 449.27 Td (227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 449.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.65 449.27 Td (236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 434.27 Td (Realized losses on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.30 434.32 Td (\(192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.65 434.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.30 434.27 Td (\(283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 580.65 434.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 419.27 Td (Gains \(losses\) on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.00 419.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.65 419.27 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 419.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 567.30 419.27 Td (\(47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 580.65 419.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 398.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 386.10 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 75.89 386.10 Td ( Financial Measur) Tj ET Q q 0 0 0 rg BT 153.48 386.10 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 374.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 362.10 Td (Net cruise revenues increased by $964 million, or 7.2%, to $14.3 billion in 2017 from $13.4 billion in 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 338.10 Td (The increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 326.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 326.10 Td ( $626 million - 4.5% increase in constant currency net revenue yields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 314.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 314.10 Td ( $381 million - 2.9% capacity increase in ) Tj ET Q q 0 0 0 rg BT 229.34 314.10 Td (ALBDs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 290.10 Td (These increases were partially of) Tj ET Q q 0 0 0 rg BT 176.42 290.10 Td (fset by foreign currency impacts \(including both foreign currency translational and transactional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 278.10 Td (impacts\), which accounted for $44 million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 254.10 Td (The 4.5% increase in net revenue yields on a constant currency basis was due to a 4.9% increase in net passenger ticket revenue yields and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 242.10 Td (a 3.4% increase in net onboard and other revenue yields.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 218.10 Td (The 4.9% increase in net passenger ticket revenue yields was driven primarily by price improvements in our Caribbean, European and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 206.10 Td (Alaska programs for our NAA) Tj ET Q q 0 0 0 rg BT 148.64 206.10 Td ( segment and European programs for our EA) Tj ET Q q 0 0 0 rg BT 327.76 206.10 Td ( segment, partially of) Tj ET Q q 0 0 0 rg BT 412.55 206.10 Td (fset by decreases in our China programs. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 194.10 Td (This 4.9% increase in net passenger ticket revenue yields was comprised of a 5.7% increase from our NAA) Tj ET Q q 0 0 0 rg BT 455.47 194.10 Td ( segment and a 3.2% increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 182.10 Td (from our EA) Tj ET Q q 0 0 0 rg BT 77.55 182.10 Td ( segment. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 158.10 Td (The 3.4% increase in net onboard and other revenue yields was caused by similar increases in our NAA) Tj ET Q q 0 0 0 rg BT 441.31 158.10 Td ( and EA) Tj ET Q q 0 0 0 rg BT 473.53 158.10 Td ( segments. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 146.10 Td (Gross cruise revenues increased by $1.1 billion, or 6.9%, to $17.3 billion in 2017 from $16.2 billion in 2016 for lar) Tj ET Q q 0 0 0 rg BT 487.30 146.10 Td (gely the same reasons ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 134.10 Td (as discussed above.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 110.10 Td (Net cruise costs excluding fuel increased by $427 million, or 5.6%, to $8.1 billion in 2017 from $7.7 billion in 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 86.10 Td (The increase was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.00 74.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 74.10 Td ( $222 million - 2.9% capacity increase in ) Tj ET Q q 0 0 0 rg BT 229.34 74.10 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.00 62.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 62.10 Td ( $216 million - 2.7% increase in constant currency net cruise costs excluding fuel) Tj ET Q endstream endobj 197 0 obj <>] /Rotate 0 /Contents 198 0 R>> endobj 198 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 33.60 Td (F-47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 740.10 Td (These increases were partially of) Tj ET Q q 0 0 0 rg BT 176.42 740.10 Td (fset by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.00 728.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 728.10 Td ( $12 million - foreign currency impacts \(including both foreign currency translational and transactional impacts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 704.10 Td (Fuel costs increased by $329 million, or 36%, to $1.2 billion in 2017 from $0.9 billion in 2016. ) Tj ET Q q 0 0 0 rg BT 410.40 704.10 Td (This was driven by higher fuel prices, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 692.10 Td (which accounted for $313 million. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 668.10 Td (Gross cruise costs increased, by $1.2 billion, or 10%, to $12.6 billion in 2017 from $1) Tj ET Q q 0 0 0 rg BT 370.48 668.10 Td (1.4 billion in 2016 for lar) Tj ET Q q 0 0 0 rg BT 471.39 668.10 Td (gely the same reasons as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 656.10 Td (discussed above and the impairment of ships, which accounted for $304 million.) Tj ET Q endstream endobj 199 0 obj <>] /Rotate 0 /Contents 200 0 R>> endobj 200 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 742.25 Td (Liquidity) Tj ET Q q 0 0 0 rg BT 66.47 742.25 Td (, Financial Condition and Capital Resour) Tj ET Q q 0 0 0 rg BT 242.43 742.25 Td (ces ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.70 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 718.25 Td (Our primary financial goals are to profitably grow our cruise business and sustain and grow our double-digit ROIC, while maintaining a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 706.25 Td (strong balance sheet and strong investment grade credit ratings. \(W) Tj ET Q q 0 0 0 rg BT 295.55 706.25 Td (e define ROIC as the twelve-month adjusted earnings before interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 694.25 Td (divided by the monthly average of debt plus equity minus construction-in-progress.\) Our ability to generate significant operating cash flow ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 682.25 Td (allows us to internally fund our capital improvements, debt maturities and dividend payments. ) Tj ET Q q 0 0 0 rg BT 405.91 682.25 Td (W) Tj ET Q q 0 0 0 rg BT 414.54 682.25 Td (e have $1) Tj ET Q q 0 0 0 rg BT 452.49 682.25 Td (1.5 billion of committed export ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 670.25 Td (credit facilities available to fund the vast majority of our new ship growth capital. Other objectives of our capital structure policy are to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 658.25 Td (maintain a suf) Tj ET Q q 0 0 0 rg BT 83.47 658.25 Td (ficient level of liquidity through our available cash and cash equivalents and committed financings for immediate and future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 646.25 Td (liquidity needs and to maintain a reasonable debt maturity profile.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.81 646.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 622.25 Td (Based on our historical results, projections and financial condition, we believe that our future operating cash flows and liquidity will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 610.25 Td (suf) Tj ET Q q 0 0 0 rg BT 39.04 610.25 Td (ficient to fund all of our expected capital improvements, new ship growth capital, debt maturities and dividend payments over the next ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 598.25 Td (several years. ) Tj ET Q q 0 0 0 rg BT 83.73 598.25 Td (W) Tj ET Q q 0 0 0 rg BT 92.37 598.25 Td (e believe that our ability to generate significant operating cash flows and our strong balance sheet, as evidenced by our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 586.25 Td (strong investment grade credit ratings, provide us with the ability) Tj ET Q q 0 0 0 rg BT 287.41 586.25 Td (, in most financial credit market environments, to obtain debt financing. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 577.33 586.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 562.25 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 562.25 Td (e had a working capital deficit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.31 562.25 Td ($7.0 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.42 562.25 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.58 562.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.29 562.25 Td ( compared to a working capital deficit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.78 562.25 Td ($7.2 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.89 562.25 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 550.25 Td (November30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.71 550.25 Td (. ) Tj ET Q q 0 0 0 rg BT 111.53 550.25 Td (The decrease in working capital deficit was driven by the increase in our cash and cash equivalents, partially of) Tj ET Q q 0 0 0 rg BT 556.45 550.25 Td (fset by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 538.25 Td (an increase in customer deposits and short-term borrowings. ) Tj ET Q q 0 0 0 rg BT 270.37 538.25 Td (W) Tj ET Q q 0 0 0 rg BT 279.01 538.25 Td (e operate with a substantial working capital deficit. ) Tj ET Q q 0 0 0 rg BT 485.70 538.25 Td (This deficit is mainly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 526.25 Td (attributable to the fact that, under our business model, substantially all of our passenger ticket receipts are collected in advance of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 514.25 Td (applicable sailing date. ) Tj ET Q q 0 0 0 rg BT 121.23 514.25 Td (These advance passenger receipts remain a current liability until the sailing date. ) Tj ET Q q 0 0 0 rg BT 446.20 514.25 Td (The cash generated from these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 502.25 Td (advance receipts is used interchangeably with cash on hand from other sources, such as our borrowings and other cash from operations. ) Tj ET Q q 0 0 0 rg BT 571.38 502.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 490.25 Td (cash received as advanced receipts can be used to fund operating expenses, pay down our debt, make long-term investments or any other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 478.25 Td (use of cash. Included within our working capital deficit are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.53 478.25 Td ($4.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.03 478.25 Td ( billion and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.08 478.25 Td ($4.0 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.20 478.25 Td ( of customer deposits as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.62 478.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 566.33 478.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 466.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.00 466.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 99.66 466.25 Td (. In addition, we have a relatively low-level of accounts receivable and limited investment in inventories. ) Tj ET Q q 0 0 0 rg BT 521.84 466.25 Td (W) Tj ET Q q 0 0 0 rg BT 530.48 466.25 Td (e generate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 454.25 Td (substantial cash flows from operations and our business model has historically allowed us to maintain this working capital deficit and still ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 442.25 Td (meet our operating, investing and financing needs. ) Tj ET Q q 0 0 0 rg BT 231.48 442.25 Td (W) Tj ET Q q 0 0 0 rg BT 240.12 442.25 Td (e expect that we will continue to have working capital deficits in the future.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.24 442.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 418.25 Td (Sour) Tj ET Q q 0 0 0 rg BT 60.88 418.25 Td (ces and Uses of Cash) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.22 418.25 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 40.50 394.25 Td ( Operating ) Tj ET Q q 0 0 0 rg BT 96.80 394.25 Td (Activities) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 134.57 394.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 370.25 Td (Our business provided ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.49 370.25 Td ($5.5 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.60 370.25 Td ( of net cash from operations during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.62 370.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.62 370.25 Td (, an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.64 370.25 Td ($227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.64 370.25 Td ( million, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.87 370.25 Td (4.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.70 370.25 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.90 370.25 Td ($5.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 583.01 370.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 358.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 37.28 358.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.28 358.25 Td (. ) Tj ET Q q 0 0 0 rg BT 62.10 358.25 Td (This increase was driven by an increase in customer deposits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.13 358.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.63 358.25 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.46 358.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.46 358.25 Td (, our business provided ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.73 358.25 Td ($5.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.84 358.25 Td ( of net cash from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 346.25 Td (operations, an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.68 346.25 Td ($188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.68 346.25 Td ( million, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.90 346.25 Td (3.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.73 346.25 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.93 346.25 Td ($5.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.43 346.25 Td ( billion in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.82 346.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.82 346.25 Td (. ) Tj ET Q q 0 0 0 rg BT 360.64 346.25 Td (This increase was caused by an increase in our revenues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 334.25 Td (less expenses settled in cash.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.25 334.25 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 40.50 310.25 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 53.00 310.25 Td (Investing ) Tj ET Q q 0 0 0 rg BT 93.47 310.25 Td (Activities) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 131.24 310.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 286.25 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.83 286.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.83 286.25 Td (, net cash used in investing activities was $3.5 billion. ) Tj ET Q q 0 0 0 rg BT 295.67 286.25 Td (This was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.49 286.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 274.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 274.25 Td (Capital expenditures of $2.1 billion for our ongoing new shipbuilding program) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.23 274.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 262.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 262.25 Td (Capital expenditures of $1.7 billion for ship improvements and replacements, information technology and buildings and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 250.25 Td (improvements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.21 250.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 238.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 238.25 Td (Proceeds from sale of ships of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.31 238.25 Td ($389 million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 226.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 226.25 Td (Purchase of minority interest of $135 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.53 226.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 214.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 214.25 Td (Payments of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.22 214.25 Td (39 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.61 214.25 Td ( of fuel derivative settlements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.46 214.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 190.25 Td (During 2017, net cash used in investing activities was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.74 190.25 Td ($3.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.85 190.25 Td (. ) Tj ET Q q 0 0 0 rg BT 295.67 190.25 Td (This was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.49 190.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 178.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 178.25 Td (Capital expenditures of $1.4 billion for our ongoing new shipbuilding program) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.23 178.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 166.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 166.25 Td (Capital expenditures of $1.5 billion for ship improvements and replacements, information technology and buildings and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 154.25 Td (improvements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.21 154.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 142.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 142.25 Td (Payments of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.22 142.25 Td (203 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.61 142.25 Td ( of fuel derivative settlements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.46 142.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 118.25 Td (During 2016, net cash used in investing activities was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.74 118.25 Td ($3.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.85 118.25 Td (. ) Tj ET Q q 0 0 0 rg BT 295.67 118.25 Td (This was caused by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 106.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 106.25 Td (Capital expenditures of $1.9 billion for our ongoing new shipbuilding program) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 94.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 94.25 Td (Capital expenditures of $1.2 billion for ship improvements and replacements, information technology and buildings and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 82.25 Td (improvements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 70.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 70.25 Td (Payments of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.22 70.25 Td (291 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.61 70.25 Td ( of fuel derivative settlements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 58.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 58.25 Td (Proceeds from sale of ships of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.31 58.25 Td ($26 million) Tj ET Q BT /F1 10.00 Tf ET BT /F5 10.00 Tf ET q 0 0 0 rg BT 40.50 46.25 Td ( ) Tj ET Q endstream endobj 201 0 obj <>] /Rotate 0 /Contents 202 0 R>> endobj 202 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-49) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 40.50 742.25 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 50.50 742.25 Td (Financing ) Tj ET Q q 0 0 0 rg BT 95.98 742.25 Td (Activities) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 133.75 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 718.25 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.83 718.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.83 718.25 Td (, net cash used in financing activities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.62 718.25 Td ($1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.12 718.25 Td ( billion was substantially all due to the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.43 718.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 706.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 706.25 Td (Net proceeds of short-term borrowings of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.84 706.25 Td ($417 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.23 706.25 Td ( in connection with our availability of, and needs for) Tj ET Q q 0 0 0 rg BT 492.78 706.25 Td (, cash at various times ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 694.25 Td (throughout the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.65 694.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 682.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 682.25 Td (Repayments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.76 682.25 Td ($1.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.88 682.25 Td ( of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.36 682.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 670.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 670.25 Td (Issuances of $2.5 billion of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.24 670.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 658.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 658.25 Td (Payments of cash dividends of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.70 658.25 Td ($1.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.20 658.25 Td ( billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.82 658.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 646.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 646.25 Td (Purchases of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.32 646.25 Td ($1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.82 646.25 Td ( billion of Carnival Corporation common stock and Carnival plc ordinary shares in open market transactions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 634.25 Td (under our Repurchase Program) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.68 634.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 610.25 Td (During 2017, net cash used in financing activities of $2.5 billion was substantially all due to the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.43 610.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 598.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 598.25 Td (Net repayments of short-term borrowings of $29 million in connection with our availability of, and needs for) Tj ET Q q 0 0 0 rg BT 498.33 598.25 Td (, cash at various times ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 586.25 Td (throughout the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.65 586.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 574.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 574.25 Td (Repayments of $1.2 billion of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.36 574.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 562.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 562.25 Td (Issuances of $100 million of long-term debt under a term loan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.27 562.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 550.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 550.25 Td (Proceeds of $367 million of long-term debt under an export credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.64 550.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 538.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 538.25 Td (Payments of cash dividends of $1.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.82 538.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 526.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 526.25 Td (Purchases of $552 million of Carnival Corporation common stock and Carnival plc ordinary shares in open market transactions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 514.25 Td (under our Repurchase Program) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.68 514.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 490.25 Td (During 2016, net cash used in financing activities of $2.6 billion was substantially all due to the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 478.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 478.25 Td (Net proceeds from short-term borrowings of $447 million in connection with our availability of, and needs for) Tj ET Q q 0 0 0 rg BT 503.88 478.25 Td (, cash at various ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 466.25 Td (times throughout the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 454.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 454.25 Td (Repayments of $1.3 billion of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 442.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 442.25 Td (Issuances of $555 million of euro-denominated publicly-traded notes, which net proceeds were used for general corporate purposes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 430.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 430.25 Td (Proceeds of $987 million of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 418.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 418.25 Td (Payments of cash dividends of $977 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 406.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 406.25 Td (Purchases of $2.3 billion of shares of Carnival Corporation common stock and $35 million of Carnival plc ordinary shares in open ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 394.25 Td (market transactions under our Repurchase Program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 370.25 Td (Futur) Tj ET Q q 0 0 0 rg BT 51.82 370.25 Td (e Commitments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 119.30 370.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 27.75 319.75 216.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.75 319.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.75 319.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.75 319.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.75 319.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.75 319.75 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.75 319.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.75 319.75 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.75 319.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.75 319.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.75 319.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 319.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 538.75 319.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 542.75 319.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.75 279.75 216.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.75 279.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.75 279.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.75 279.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.75 279.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.75 279.75 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.75 279.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.75 279.75 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.75 279.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.75 279.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.75 279.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 279.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 538.75 279.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 542.75 279.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.75 251.75 216.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.75 251.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.75 251.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.75 251.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.75 251.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.75 251.75 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.75 251.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.75 251.75 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.75 251.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.75 251.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.75 251.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 251.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 538.75 251.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 542.75 251.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.75 223.75 216.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.75 223.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.75 223.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.75 223.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.75 223.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.75 223.75 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.75 223.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.75 223.75 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.75 223.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.75 223.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.75 223.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.75 223.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 538.75 223.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 542.75 223.75 45.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243.75 333.75 m 287.75 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287.75 333.75 m 291.75 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.75 333.75 m 335.75 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.75 333.75 m 339.75 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.75 333.75 m 379.75 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.75 333.75 m 383.75 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 333.75 m 430.75 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.75 333.75 m 434.75 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.75 333.75 m 478.75 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243.75 319.75 m 287.75 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.75 333.75 m 335.75 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.75 319.75 m 335.75 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.75 333.75 m 379.75 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.75 319.75 m 379.75 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 333.75 m 430.75 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 319.75 m 430.75 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.75 333.75 m 478.75 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.75 319.75 m 478.75 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.75 319.75 m 538.75 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 542.75 319.75 m 587.75 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243.75 319.75 m 287.75 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.75 319.75 m 335.75 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.75 319.75 m 379.75 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 319.75 m 430.75 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.75 319.75 m 478.75 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.75 319.75 m 538.75 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 542.75 319.75 m 587.75 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243.75 223.75 m 287.75 223.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243.75 210.75 m 287.75 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243.75 208.75 m 287.75 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.75 223.75 m 335.75 223.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.75 210.75 m 335.75 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.75 208.75 m 335.75 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.75 223.75 m 379.75 223.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.75 210.75 m 379.75 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.75 208.75 m 379.75 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 223.75 m 430.75 223.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 210.75 m 430.75 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 208.75 m 430.75 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.75 223.75 m 478.75 223.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.75 210.75 m 478.75 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.75 208.75 m 478.75 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.75 223.75 m 538.75 223.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.75 210.75 m 538.75 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.75 208.75 m 538.75 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 542.75 223.75 m 587.75 223.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 542.75 210.75 m 587.75 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 542.75 208.75 m 587.75 208.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.50 338.43 Td (Payments Due by) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 30.25 324.31 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.25 324.43 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.25 324.43 Td (2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.25 324.43 Td (2021) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.75 324.43 Td (2022) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.25 324.43 Td (2023) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.35 324.43 Td (Ther) Tj ET Q q 0 0 0 rg BT 508.28 324.43 Td (eafter) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.80 324.43 Td (T) Tj ET Q q 0 0 0 rg BT 559.55 324.43 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.25 310.32 Td (Debt \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.25 310.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.40 310.32 Td (2,633) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.25 310.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.40 310.32 Td (2,320) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.25 310.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.35 310.32 Td (1,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.25 310.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.40 310.32 Td (1,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.25 310.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.40 310.32 Td (1,867) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.25 310.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.40 310.32 Td (2,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.25 310.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.35 310.32 Td (1) Tj ET Q q 0 0 0 rg BT 561.35 310.32 Td (1,360) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.25 296.32 Td (Other long-term liabilities reflected on the balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.25 284.32 Td ( sheet \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.90 284.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.90 284.42 Td (135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.90 284.42 Td (90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.90 284.42 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.90 284.42 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.90 284.42 Td (178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 568.90 284.42 Td (535) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.25 270.32 Td (New ship growth capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.40 270.32 Td (4,935) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.40 270.32 Td (3,849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.35 270.32 Td (3,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.40 270.32 Td (3,1) Tj ET Q q 0 0 0 rg BT 416.90 270.32 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.40 270.32 Td (2,1) Tj ET Q q 0 0 0 rg BT 464.90 270.32 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.40 270.32 Td (1,132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.35 270.32 Td (19,029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.25 256.32 Td (Operating leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.90 256.32 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.90 256.32 Td (48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.90 256.32 Td (46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.90 256.32 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.90 256.32 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.90 256.32 Td (180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 568.90 256.32 Td (415) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.25 242.32 Td (Port facilities and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.90 242.32 Td (31) Tj ET Q q 0 0 0 rg BT 278.90 242.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.90 242.32 Td (292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.90 242.32 Td (249) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.90 242.32 Td (172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.90 242.32 Td (132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.40 242.32 Td (1,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.40 242.32 Td (2,253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.25 228.32 Td (Purchase obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.90 228.32 Td (451) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.90 228.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.90 228.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.90 228.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.90 228.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.90 228.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 568.90 228.32 Td (451) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 30.25 214.43 Td (T) Tj ET Q q 0 0 0 rg BT 36.00 214.43 Td (otal Contractual Cash Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.25 214.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.40 214.32 Td (8,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.25 214.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.40 214.32 Td (6,644) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.25 214.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.35 214.32 Td (5,514) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.25 214.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.40 214.32 Td (4,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.25 214.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.40 214.32 Td (4,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.25 214.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.40 214.32 Td (4,682) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.25 214.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.35 214.32 Td (34,044) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 186.25 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 54.00 186.25 Td (Includes principal as well as estimated interest payments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.38 186.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 174.25 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 54.00 174.25 Td (Represents cash outflows for certain of our long-term liabilities which can be reasonably estimated.) Tj ET Q q 0 0 0 rg BT 454.53 174.25 Td (The primary outflows are for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 162.25 Td (estimates of our compensation plans) Tj ET Q q 0 0 0 rg BT 202.11 162.25 Td ( obligations, crew and guest claims and certain deferred income taxes.Customer deposits and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 150.25 Td (certain other deferred income taxes have been excluded from the table because they do not require a cash settlement in the future.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 572.11 150.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 126.25 Td (Capital Expenditur) Tj ET Q q 0 0 0 rg BT 109.89 126.25 Td (e and Capacity For) Tj ET Q q 0 0 0 rg BT 191.65 126.25 Td (ecast) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.75 126.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 102.25 Td (Our annual capital expenditure forecast consists of contracted new ship growth capital, estimated payments for planned new ship growth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 90.25 Td (capital and capital improvements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.45 90.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 65.75 343.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 65.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 65.75 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 65.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 65.75 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 65.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 65.75 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 532.50 65.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 536.50 65.75 50.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 65.75 m 424.5 65.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 65.75 m 478.5 65.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 65.75 m 532.5 65.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 65.75 m 586.5 65.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 65.75 m 424.5 65.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 65.75 m 478.5 65.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 65.75 m 532.5 65.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 65.75 m 586.5 65.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 30.00 70.31 Td ( \(in billions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.00 70.43 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.00 70.43 Td (2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.00 70.43 Td (2021) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.00 70.43 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 56.32 Td (Annual capital expenditure forecast) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 56.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.15 56.32 Td (6.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 56.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 56.32 Td (5.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 56.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.15 56.32 Td (5.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.00 56.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 570.15 56.32 Td (5.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 588.00 52.25 Td ( ) Tj ET Q endstream endobj 203 0 obj <>] /Rotate 0 /Contents 204 0 R>> endobj 204 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 730.10 Td (Our annual capacity forecast consists of contracted new ships and announced dispositions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.07 730.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 705.60 343.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 705.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 705.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 705.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 705.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 705.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 705.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 532.50 705.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 536.50 705.60 50.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 705.6 m 424.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 705.6 m 478.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 705.6 m 532.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 705.6 m 586.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 705.6 m 424.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 705.6 m 478.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 705.6 m 532.5 705.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536.5 705.6 m 586.5 705.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.00 710.28 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.00 710.28 Td (2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.00 710.28 Td (2021) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.00 710.28 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 696.17 Td (Annual capacity forecast) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 696.17 Td (4.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 696.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 696.17 Td (5.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 696.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.15 696.17 Td (7.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 696.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.15 696.17 Td (5.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 577.65 696.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 668.10 Td (Shar) Tj ET Q q 0 0 0 rg BT 47.38 668.10 Td (e Repur) Tj ET Q q 0 0 0 rg BT 81.36 668.10 Td (chase Pr) Tj ET Q q 0 0 0 rg BT 117.56 668.10 Td (ogram and Stock Swap Pr) Tj ET Q q 0 0 0 rg BT 229.05 668.10 Td (ograms) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.71 668.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 644.10 Td (Under a share repurchase program ef) Tj ET Q q 0 0 0 rg BT 174.80 644.10 Td (fective 2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.50 644.10 Td (, we are authorized to repurchase Carnival Corporation common stock and Carnival plc ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 632.10 Td (ordinary shares \(the Repurchase Program\). Ef) Tj ET Q q 0 0 0 rg BT 218.96 632.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 248.11 632.10 Td (April 10 and ) Tj ET Q q 0 0 0 rg BT 300.61 632.10 Td (August 27, 2018, the company approved modifications of the general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 620.10 Td (authorization under the Repurchase Program, which replenished the remaining authorized repurchases at the time of the approvals to $1.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 608.10 Td (billion. ) Tj ET Q q 0 0 0 rg BT 57.93 608.10 Td (The Repurchase Program does not have an expiration date and may be discontinued by our Boards of Directors at any time. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 584.10 Td (In addition to the Repurchase Program, we have programs that allow us to obtain an economic benefit when either Carnival Corporation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 572.10 Td (common stock is trading at a premium to the price of Carnival plc ordinary shares or Carnival plc ordinary shares are trading at a premium ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 560.10 Td (to Carnival Corporation common stock \(the Stock Swap Programs\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.22 560.10 Td ( For example:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.77 560.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 536.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 536.10 Td (In the event Carnival Corporation common stock trades at a premium to Carnival plc ordinary shares, we may elect to sell shares of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 524.10 Td (Carnival Corporation common stock, at prevailing market prices in ordinary brokers) Tj ET Q q 0 0 0 rg BT 394.00 524.10 Td ( transactions and repurchase an equivalent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 512.10 Td (number of Carnival plc ordinary shares in the UK market.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.60 512.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 488.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 488.10 Td (In the event Carnival plc ordinary shares trade at a premium to Carnival Corporation common stock, we may elect to sell ordinary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 476.10 Td (shares of Carnival plc, at prevailing market prices in ordinary brokers) Tj ET Q q 0 0 0 rg BT 335.10 476.10 Td ( transactions and repurchase an equivalent number of shares of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 464.10 Td (Carnival Corporation common stock in the U.S. market.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 440.10 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.83 440.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.83 440.10 Td ( and 2017, there were no sales or repurchases under the Stock Swap Programs. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.96 440.10 Td (During 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.79 440.10 Td (, under the Stock Swap Programs, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 428.10 Td (subsidiary of Carnival Corporation sold ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.37 428.10 Td (0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.87 428.10 Td ( million of Carnival plc ordinary shares for net proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.85 428.10 Td ($40 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.24 428.10 Td (. Substantially all of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 416.10 Td (net proceeds from these sales were used to purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.75 416.10 Td (0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.64 416.10 Td ( shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.63 416.10 Td (of Carnival Corporation common stock.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.33 416.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.27 416.10 Td (Any sales of Carnival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 404.10 Td (Corporation common stock and Carnival plc ordinary shares have been or will be registered under the Securities ) Tj ET Q q 0 0 0 rg BT 478.25 404.10 Td (Act of 1933.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.52 404.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 380.10 Td (Funding Sour) Tj ET Q q 0 0 0 rg BT 86.01 380.10 Td (ces) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 98.78 380.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 356.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 356.10 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.21 356.10 Td (, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.37 356.10 Td (had liquidity of $14.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.64 356.10 Td (.Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.69 356.10 Td (liquidity consisted of $710 million of cash and cash equivalents, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 344.10 Td (excludes $271 million of cash used for current operations, $2.3 billion available for borrowing under) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.23 344.10 Td ( our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.56 344.10 Td (revolving credit facilities, net of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 577.12 344.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 332.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 42.83 332.10 Td (outstanding commercial paper borrowing, and $1) Tj ET Q q 0 0 0 rg BT 239.63 332.10 Td (1.5 billion under) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.01 332.10 Td ( our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.34 332.10 Td (committed future financings, which are comprised of ship export ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 320.10 Td (credit facilities. ) Tj ET Q q 0 0 0 rg BT 91.51 320.10 Td (These commitments are from numerous lar) Tj ET Q q 0 0 0 rg BT 263.78 320.10 Td (ge and well-established banks and export credit agencies, which we believe will) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 583.67 320.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 308.10 Td (honor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.83 308.10 Td (their contractual agreements with us.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.28 308.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.78 308.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 26.25 283.60 314.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.25 283.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.25 283.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.25 283.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.25 283.60 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.25 283.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.25 283.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.25 283.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.25 283.60 59.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.25 283.6 m 402.25 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.25 283.6 m 465.25 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.25 283.6 m 526.25 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.25 283.6 m 402.25 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.25 283.6 m 465.25 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.25 283.6 m 526.25 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 530.25 283.6 m 589.25 283.6 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 28.75 288.16 Td (\(in billions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.75 288.28 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.25 288.28 Td (2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.25 288.28 Td (2021) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.25 288.28 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 28.75 273.27 Td (A) Tj ET Q q 0 0 0 rg BT 35.23 273.27 Td (vailability of committed future financing at November 30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.75 273.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.90 273.27 Td (3.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.75 273.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.90 273.27 Td (2.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.75 273.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.90 273.27 Td (2.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.75 273.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 572.90 273.27 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 245.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 245.10 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.21 245.10 Td (, all of our revolving credit facilities are scheduled to mature in 2021, except for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 245.10 Td ($300 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.54 245.10 Td ( which matures in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 233.10 Td (2020.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 233.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 209.10 Td (Substantially all of our debt agreements contain financial covenants as described in the consolidated financial statements.) Tj ET Q q 0 0 0 rg BT 514.35 209.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.85 209.10 Td (November30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 197.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.00 197.10 Td (, we were in compliance with our debt covenants. In addition, based on, among other things, our forecasted operating results, financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 185.10 Td (condition and cash flows, we expect to be in compliance with our debt covenants for the foreseeable future.Generally) Tj ET Q q 0 0 0 rg BT 498.40 185.10 Td (, if an event of default ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 173.10 Td (under any debt agreement occurs, then pursuant to cross default acceleration clauses, substantially all of our outstanding debt and derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 161.10 Td (contract payables could become due, and all debt and derivative contracts could be terminated.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.01 161.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 137.10 Td (Off-Balance Sheet ) Tj ET Q q 0 0 0 rg BT 106.43 137.10 Td (Arrangements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 168.08 137.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 113.10 Td (W) Tj ET Q q 0 0 0 rg BT 35.64 113.10 Td (e are not a party to any of) Tj ET Q q 0 0 0 rg BT 137.91 113.10 Td (f-balance sheet arrangements, including guarantee contracts, retained or contingent interests, certain derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 101.10 Td (instruments and variable interest entities that either have, or are reasonably likely to have, a current or future material ef) Tj ET Q q 0 0 0 rg BT 506.35 101.10 Td (fect on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 89.10 Td (consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.23 89.10 Td ( ) Tj ET Q endstream endobj 205 0 obj <>] /Rotate 0 /Contents 206 0 R>> endobj 206 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-51) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 742.25 Td (Quantitative and Qualitative Disclosur) Tj ET Q q 0 0 0 rg BT 192.10 742.25 Td (es ) Tj ET Q q 0 0 0 rg BT 202.38 742.25 Td (About Market Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.72 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 718.25 Td (For a discussion of our hedging strategies and market risks, see the discussion below and the consolidated financial statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.22 718.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 694.25 Td (For) Tj ET Q q 0 0 0 rg BT 55.87 694.25 Td (eign Curr) Tj ET Q q 0 0 0 rg BT 97.62 694.25 Td (ency Exchange Rate Risks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.57 694.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.07 694.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 670.25 Td (Operational Curr) Tj ET Q q 0 0 0 rg BT 129.64 670.25 Td (ency Risks) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.93 670.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 646.25 Td (Our operations primarily utilize the U.S. dollar) Tj ET Q q 0 0 0 rg BT 214.33 646.25 Td (, ) Tj ET Q q 0 0 0 rg BT 218.78 646.25 Td (Australian dollar) Tj ET Q q 0 0 0 rg BT 285.86 646.25 Td (, euro or sterling as their functional currencies. Our operations also have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 634.25 Td (revenue and expenses denominated in non-functional currencies. Movements in foreign currency exchange rates will af) Tj ET Q q 0 0 0 rg BT 504.69 634.25 Td (fect our financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 622.25 Td (statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.21 622.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 598.25 Td (Based on a 10% change in all currency exchange rates that were used in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.26 598.25 Td (December20, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.85 598.25 Td ( guidance, we estimate that our adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 586.25 Td (diluted earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.02 586.25 Td ( guidance would change by the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.31 586.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 562.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 562.25 Td ($0.27 per share on an annualized basis for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.78 562.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 550.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 550.25 Td ($0.01 per share for the first quarter of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.00 550.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 526.25 Td (Investment Curr) Tj ET Q q 0 0 0 rg BT 125.75 526.25 Td (ency Risks ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 173.54 526.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 502.25 Td (The foreign currency exchange rates were as follows: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.57 502.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 28.75 461.75 434.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.75 461.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.75 461.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.75 461.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 28.75 431.75 434.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.75 431.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.75 431.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.75 431.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 28.75 401.75 434.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.75 401.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.75 401.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.75 401.75 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.75 476.75 m 522.75 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.75 476.75 m 526.75 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.75 476.75 m 586.75 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.75 461.75 m 522.75 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.75 461.75 m 586.75 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.75 461.75 m 586.75 461.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.60 481.43 Td (November) Tj ET Q q 0 0 0 rg BT 538.94 481.43 Td ( 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 31.25 466.42 Td (USD to 1:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.25 466.43 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.25 466.43 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 31.25 451.42 Td (AUD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.25 451.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.40 451.42 Td (0.73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.25 451.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.40 451.42 Td (0.76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 31.25 436.42 Td (CAD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.25 436.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.40 436.42 Td (0.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.25 436.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.40 436.42 Td (0.78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 31.25 421.42 Td (EUR) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.25 421.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.40 421.42 Td (1.14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.25 421.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.40 421.42 Td (1.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 31.25 406.42 Td (GBP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.25 406.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.40 406.42 Td (1.28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.25 406.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.40 406.42 Td (1.33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 31.25 391.42 Td (RMB) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.25 391.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.40 391.42 Td (0.14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.25 391.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 565.40 391.42 Td (0.15) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 363.25 Td (If the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.88 363.25 Td (November30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.58 363.25 Td ( currency exchange rates had been used to translate our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.82 363.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.52 363.25 Td ( non-U.S. dollar functional currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 351.25 Td (operations) Tj ET Q q 0 0 0 rg BT 71.24 351.25 Td ( assets and liabilities \(instead of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.93 351.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.64 351.25 Td ( U.S. dollar exchange rates\), our total assets would have been) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.39 351.25 Td ( higher by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 339.25 Td ($615 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.89 339.25 Td (and our total liabilities would have been) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.40 339.25 Td ( higher by $308 million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.34 339.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 315.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.44 315.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.15 315.25 Td (, we have a cross currency swap of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.04 315.25 Td ($156 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.43 315.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.93 315.25 Td (which settles in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.14 315.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.64 315.25 Td (September 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.90 315.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.72 315.25 Td (This cross currency swap is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 303.25 Td (designated as a hedge of our net investments in foreign operations, which have a euro-denominated functional currency) Tj ET Q q 0 0 0 rg BT 504.24 303.25 Td (, thus partially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 291.25 Td (of) Tj ET Q q 0 0 0 rg BT 35.15 291.25 Td (fsetting the foreign currency exchange rate risk.Based on a 10% change in the U.S. dollar to euro exchange rate as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.03 291.25 Td (November30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 279.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 47.00 279.25 Td (, we estimate that this cross currency swap) Tj ET Q q 0 0 0 rg BT 220.28 279.25 Td (s fair value and of) Tj ET Q q 0 0 0 rg BT 292.29 279.25 Td (fsetting change in U.S. dollar value of our net investments would change ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 267.25 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 267.25 Td ($16 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.89 267.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.39 267.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 243.25 Td (Newbuild Curr) Tj ET Q q 0 0 0 rg BT 119.10 243.25 Td (ency Risks) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.39 243.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 219.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 219.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.21 219.25 Td (, our remaining newbuild currency exchange rate risk primarily relates to euro-denominated newbuild contract ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 207.25 Td (payments, which represent a total unhedged commitment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.88 207.25 Td ($10.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.99 207.25 Td ( and substantially all relates to newbuilds scheduled to be delivered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 195.25 Td (from 2019 through 2025 to non-euro functional currency brands. ) Tj ET Q q 0 0 0 rg BT 288.42 195.25 Td (The functional currency cost of each of these ships will increase or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 183.25 Td (decrease based on changes in the exchange rates until the unhedged payments are made under the shipbuilding contract. ) Tj ET Q q 0 0 0 rg BT 509.14 183.25 Td (W) Tj ET Q q 0 0 0 rg BT 517.78 183.25 Td (e may enter into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 171.25 Td (additional foreign currency derivatives to mitigate some of this foreign currency exchange rate risk. Based on a 10% change in euro to U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 159.25 Td (dollar exchange rates as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.12 159.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.82 159.25 Td (, the remaining unhedged cost of these ships would have a corresponding change of $1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 147.25 Td (billion. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.11 147.25 Td ( ) Tj ET Q endstream endobj 207 0 obj <>] /Rotate 0 /Contents 208 0 R>> endobj 208 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 742.25 Td (Inter) Tj ET Q q 0 0 0 rg BT 61.98 742.25 Td (est Rate Risks) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 121.97 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 718.25 Td (The composition of our debt, including the ef) Tj ET Q q 0 0 0 rg BT 208.45 718.25 Td (fect of cross currency swaps and interest rate swaps, was as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.69 718.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 28.75 692.75 458.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 692.75 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 28.75 662.75 458.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 662.75 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 28.75 632.75 458.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.75 632.75 100.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.75 692.75 m 586.75 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.75 692.75 m 586.75 692.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.35 697.43 Td (November) Tj ET Q q 0 0 0 rg BT 539.60 697.43 Td ( 30, 2018) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 31.25 689.35 40.26 -9.09 re f /GS0 gs q 0 0 0 rg BT 31.25 682.42 Td (Fixed rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 567.90 682.42 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 577.90 682.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 31.25 667.42 Td (EUR fixed rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 567.90 667.42 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 577.90 667.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 31.25 659.35 50.82 -9.09 re f /GS0 gs q 0 0 0 rg BT 31.25 652.42 Td (Floating rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 572.90 652.42 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 577.90 652.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 31.25 637.42 Td (EUR floating rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 567.90 637.42 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 577.90 637.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 31.25 622.42 Td (GBP) Tj ET Q q 0 0 0 rg BT 50.33 622.42 Td ( floating rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 572.90 622.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 577.90 622.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 594.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 594.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.21 594.25 Td (, we had interest rate swaps that have ef) Tj ET Q q 0 0 0 rg BT 278.13 594.25 Td (fectively changed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.42 594.25 Td ($385 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.82 594.25 Td ( of EURIBOR-based floating rate euro debt to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 582.25 Td (fixed rate euro debt. Based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.46 582.25 Td (a 10% change in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.04 582.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.74 582.25 Td ( market interest rates,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.82 582.25 Td ( our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 582.25 Td (annual interest expense on floating rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 570.25 Td (debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 44.22 570.25 Td (, including the ef) Tj ET Q q 0 0 0 rg BT 111.79 570.25 Td (fect of our interest rate swaps, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.80 570.25 Td (would change by an insignificant amount. Substantially all of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.59 570.25 Td ( our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.92 570.25 Td (fixed rate debt can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 558.25 Td (only be called or prepaid by incurring) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.06 558.25 Td ( additional costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.55 558.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 534.25 Td (Fuel Price Risks) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 510.25 Td (Substantially all our exposure to market risk for changes in fuel prices relates to the consumption of fuel on our ships. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.60 510.25 Td (W) Tj ET Q q 0 0 0 rg BT 509.24 510.25 Td (e have been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 498.25 Td (installing advanced air quality systems on our ships. ) Tj ET Q q 0 0 0 rg BT 238.18 498.25 Td (These ef) Tj ET Q q 0 0 0 rg BT 272.14 498.25 Td (forts are mitigating much of the impact from the ECA) Tj ET Q q 0 0 0 rg BT 487.37 498.25 Td ( requirements. Given the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 486.25 Td (installation schedule, we expect to use a greater percentage of low sulfur fuel in 2020, which may increase our fuel costs. ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 462.25 Td (Based on a 10% change in fuel prices versus the current spot price that was used to calculate fuel expense in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.51 462.25 Td (December20, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.09 462.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 450.25 Td (guidance, we estimate that our adjusted diluted earnings per share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.74 450.25 Td (December20, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.33 450.25 Td ( guidance would change by the following: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.12 450.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 426.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 426.25 Td ($0.21 per share on an annualized basis for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.78 426.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 414.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 414.25 Td ($0.05 per share for the first quarter of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.00 414.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 209 0 obj <>] /Rotate 0 /Contents 210 0 R>> endobj 210 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-53) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 742.25 Td (SELECTED FINANCIAL) Tj ET Q q 0 0 0 rg BT 161.47 742.25 Td ( DA) Tj ET Q q 0 0 0 rg BT 177.67 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 183.60 742.25 Td (A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 718.25 Td (The selected consolidated financial data presented below for 2014 through 2018 and as of the end of each such year) Tj ET Q q 0 0 0 rg BT 511.99 718.25 Td (, except for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.25 Td (the statistical data, are derived from our consolidated financial statements and should be read in conjunction with those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.25 Td (consolidated financial statements and the related notes.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 655.75 236.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 655.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 655.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 655.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 655.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 655.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 655.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 655.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 655.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 655.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 628.75 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 628.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 628.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 628.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 628.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 628.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 628.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 628.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 628.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 628.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 600.75 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 600.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 600.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 600.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 600.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 600.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 600.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 600.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 600.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 600.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 572.75 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 572.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 572.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 572.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 572.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 572.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 572.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 572.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 572.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 572.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 544.75 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 544.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 544.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 544.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 544.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 544.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 544.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 544.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 544.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 544.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 516.75 236.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 516.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 516.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 516.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 516.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 516.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 516.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 516.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 516.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 516.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 489.75 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 489.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 489.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 489.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 489.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 489.75 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 461.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 431.75 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 431.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 431.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 431.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 431.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 431.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 431.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 431.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 431.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 431.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 403.75 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 403.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 403.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 403.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 403.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 403.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 403.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 403.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 403.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 403.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 375.75 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 375.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 375.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 375.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 375.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 375.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 375.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 375.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 375.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 375.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 346.75 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 346.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 346.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 346.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 346.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 346.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 346.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 346.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 346.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 346.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 292.75 236.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 292.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 292.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 292.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 292.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 292.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 292.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 292.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 292.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 292.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 265.75 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 265.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 265.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 265.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 265.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 265.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 265.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 265.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 265.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 265.75 52.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286 669.75 m 338 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 669.75 m 342 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342 669.75 m 394 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 669.75 m 398 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 669.75 m 450 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 669.75 m 454 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 669.75 m 506 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 669.75 m 510 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 669.75 m 562 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286 655.75 m 338 655.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342 655.75 m 394 655.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 655.75 m 450 655.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 655.75 m 506 655.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 655.75 m 562 655.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286 306.75 m 338 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 306.75 m 342 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342 306.75 m 394 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 306.75 m 398 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 306.75 m 450 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 306.75 m 454 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 306.75 m 506 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 306.75 m 510 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 306.75 m 562 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286 306.75 m 338 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286 292.75 m 338 292.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 306.75 m 342 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342 306.75 m 394 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342 292.75 m 394 292.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 306.75 m 398 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 306.75 m 450 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 292.75 m 450 292.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 306.75 m 454 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 306.75 m 506 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 292.75 m 506 292.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 306.75 m 510 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 306.75 m 562 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 292.75 m 562 292.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 660.46 Td (\(in millions, except per shar) Tj ET Q q 0 0 0 rg BT 164.79 660.46 Td (e, per ton and curr) Tj ET Q q 0 0 0 rg BT 239.69 660.46 Td (ency data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.50 674.43 Td (Y) Tj ET Q q 0 0 0 rg BT 372.17 674.43 Td (ears Ended November) Tj ET Q q 0 0 0 rg BT 466.51 674.43 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.50 660.43 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.50 660.43 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.50 660.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.50 660.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.50 660.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 646.48 Td (Statements of Income Data) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 633.32 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 633.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.60 633.32 Td (18,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 633.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.60 633.32 Td (17,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.50 633.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.60 633.32 Td (16,389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 633.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.60 633.32 Td (15,714) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 633.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.60 633.32 Td (15,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 619.32 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 619.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 619.32 Td (3,325) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 619.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 619.32 Td (2,809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.50 619.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 619.32 Td (3,071) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 619.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 619.32 Td (2,574) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 619.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 619.32 Td (1,772) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 605.32 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 605.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 605.32 Td (3,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 605.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 605.32 Td (2,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.50 605.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 605.32 Td (2,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 605.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 605.32 Td (1,757) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 605.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 605.32 Td (1,216) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 591.32 Td (Earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 577.32 Td ( Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 577.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.65 577.32 Td (4.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 577.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 577.32 Td (3.61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.50 577.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 577.32 Td (3.73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 577.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 577.32 Td (2.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 577.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 577.32 Td (1.57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 563.32 Td ( Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 563.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.65 563.32 Td (4.44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 563.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 563.32 Td (3.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.50 563.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 563.32 Td (3.72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 563.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 563.32 Td (2.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 563.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 563.32 Td (1.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 549.32 Td (Adjusted net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 549.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 549.32 Td (3,029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 549.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 549.32 Td (2,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.50 549.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 549.32 Td (2,580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 549.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 549.32 Td (2,106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 549.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 549.32 Td (1,504) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 535.32 Td (Adjusted earnings per share - diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 535.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.65 535.32 Td (4.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 535.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 535.32 Td (3.82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.50 535.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 535.32 Td (3.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 535.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 535.32 Td (2.70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 535.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 535.32 Td (1.93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 521.32 Td (Dividends declared per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 521.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.65 521.32 Td (1.95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 521.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 521.32 Td (1.60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.50 521.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 521.32 Td (1.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 521.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 521.32 Td (1.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 521.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 521.32 Td (1.00) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 507.48 Td (Statistical Data) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 494.32 Td (ALBDs \(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.60 494.32 Td (83,872) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.60 494.32 Td (82,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.60 494.32 Td (80,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.60 494.32 Td (77,307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.60 494.32 Td (76,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 480.32 Td (Occupancy percentage) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 480.32 Td (106.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.15 480.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 480.32 Td (105.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 480.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 480.32 Td (105.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 480.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 480.32 Td (104.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 480.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 480.32 Td (104.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 480.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 466.32 Td (Passengers carried \(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.60 466.32 Td (12,407) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.60 466.32 Td (12,130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.60 466.32 Td (1) Tj ET Q q 0 0 0 rg BT 418.60 466.32 Td (1,520) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.60 466.32 Td (10,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.60 466.32 Td (10,570) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 451.42 Td (Fuel consumption in metric tons \(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 451.42 Td (3,296) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 451.42 Td (3,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 451.42 Td (3,233) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 451.42 Td (3,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 451.42 Td (3,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 436.42 Td (Fuel consumption in metric tons per thousand ) Tj ET Q q 0 0 0 rg BT 238.03 436.42 Td (ALBDs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.65 436.42 Td (39.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 436.42 Td (39.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 436.42 Td (40.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 436.42 Td (41.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 436.42 Td (42.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 422.32 Td (Fuel cost per metric ton consumed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 422.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.15 422.32 Td (491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 422.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.15 422.32 Td (378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.50 422.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.15 422.32 Td (283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 422.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 422.32 Td (393) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 422.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.15 422.32 Td (636) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 408.32 Td (Currencies \(USD to 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 394.32 Td ( ) Tj ET Q q 0 0 0 rg BT 64.72 394.32 Td (AUD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 394.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.65 394.32 Td (0.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 394.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 394.32 Td (0.77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.50 394.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 394.32 Td (0.74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 394.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 394.32 Td (0.76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 394.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 394.32 Td (0.91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 380.32 Td ( CAD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 380.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.65 380.32 Td (0.78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 380.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 380.32 Td (0.77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.50 380.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 380.32 Td (0.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 380.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 380.32 Td (0.79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 380.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 380.32 Td (0.91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 366.32 Td ( EUR) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 366.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.65 366.32 Td (1.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 366.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 366.32 Td (1.12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.50 366.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 366.32 Td (1.1) Tj ET Q q 0 0 0 rg BT 436.15 366.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 366.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 366.32 Td (1.12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 366.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 366.32 Td (1.34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 351.42 Td ( GBP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 351.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.65 351.42 Td (1.34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 351.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 351.42 Td (1.28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.50 351.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 351.42 Td (1.37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 351.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 351.42 Td (1.54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 351.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 351.42 Td (1.66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 336.42 Td ( RMB) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 336.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.65 336.42 Td (0.15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 336.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 336.42 Td (0.15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.50 336.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 336.42 Td (0.15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 336.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 336.42 Td (0.16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 336.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 336.42 Td (0.16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.65 311.43 Td (As of November) Tj ET Q q 0 0 0 rg BT 450.43 311.43 Td ( 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 297.31 Td (\(in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.50 297.43 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.50 297.43 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.50 297.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.50 297.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.50 297.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 283.48 Td (Balance Sheet) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 270.32 Td (T) Tj ET Q q 0 0 0 rg BT 58.26 270.32 Td (otal assets \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 270.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.60 270.32 Td (42,401) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 270.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.60 270.32 Td (40,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.50 270.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.60 270.32 Td (38,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 270.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.60 270.32 Td (39,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 270.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.60 270.32 Td (39,448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 256.32 Td (T) Tj ET Q q 0 0 0 rg BT 57.91 256.32 Td (otal debt \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 256.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.60 256.32 Td (10,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 256.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 256.32 Td (9,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.50 256.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 256.32 Td (9,399) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 256.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 256.32 Td (8,787) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 256.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 256.32 Td (9,088) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 228.25 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 76.50 228.25 Td (T) Tj ET Q q 0 0 0 rg BT 81.91 228.25 Td (otal assets and total debt for years 2015 and 2014 have not been updated to reflect the changes as a result of adopting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 216.25 Td (ASU 2015-03 - ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.67 216.25 Td (Debt Issuance Cost) Tj ET Q endstream endobj 211 0 obj <>] /Rotate 0 /Contents 212 0 R>> endobj 212 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-54) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 720.50 296.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.25 720.50 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.25 720.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.25 720.50 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.25 720.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.25 720.50 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.25 720.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.25 720.50 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.25 720.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.25 720.50 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 693.50 296.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.25 693.50 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.25 693.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.25 693.50 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.25 693.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.25 693.50 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.25 693.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.25 693.50 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.25 693.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.25 693.50 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 663.50 296.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.25 663.50 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.25 663.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.25 663.50 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.25 663.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.25 663.50 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.25 663.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.25 663.50 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.25 663.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.25 663.50 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 633.50 296.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.25 633.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.25 633.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.25 633.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.25 633.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.25 633.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.25 633.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.25 633.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.25 633.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.25 633.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 619.50 296.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.25 619.50 40.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.25 619.50 4.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.25 619.50 40.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.25 619.50 4.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.25 619.50 40.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.25 619.50 4.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.25 619.50 40.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.25 619.50 4.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.25 619.50 40.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 597.50 296.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.25 597.50 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.25 597.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.25 597.50 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.25 597.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.25 597.50 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.25 597.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.25 597.50 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.25 597.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.25 597.50 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 570.50 296.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.25 570.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.25 570.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.25 570.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.25 570.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.25 570.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.25 570.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.25 570.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.25 570.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.25 570.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 542.50 296.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.25 542.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.25 542.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.25 542.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.25 542.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.25 542.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.25 542.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.25 542.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.25 542.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.25 542.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 514.50 296.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.25 514.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.25 514.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.25 514.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.25 514.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.25 514.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.25 514.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.25 514.50 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.25 514.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.25 514.50 40.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.25 734.5 m 385.25 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.25 734.5 m 389.25 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.25 734.5 m 429.25 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.25 734.5 m 433.25 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.25 734.5 m 473.25 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.25 734.5 m 477.25 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.25 734.5 m 517.25 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.25 734.5 m 521.25 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.25 734.5 m 561.25 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.25 720.5 m 385.25 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.25 720.5 m 429.25 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.25 720.5 m 473.25 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.25 720.5 m 517.25 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.25 720.5 m 561.25 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.25 633.5 m 385.25 633.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.25 620.5 m 385.25 620.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.25 618.5 m 385.25 618.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.25 633.5 m 429.25 633.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.25 620.5 m 429.25 620.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.25 618.5 m 429.25 618.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.25 633.5 m 473.25 633.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.25 620.5 m 473.25 620.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.25 618.5 m 473.25 618.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.25 633.5 m 517.25 633.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.25 620.5 m 517.25 620.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.25 618.5 m 517.25 618.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.25 633.5 m 561.25 633.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.25 620.5 m 561.25 620.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.25 618.5 m 561.25 618.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.25 602.5 m 385.25 602.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.25 600.5 m 385.25 600.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.25 602.5 m 429.25 602.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.25 600.5 m 429.25 600.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.25 602.5 m 473.25 602.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.25 600.5 m 473.25 600.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.25 602.5 m 517.25 602.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.25 600.5 m 517.25 600.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.25 602.5 m 561.25 602.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.25 600.5 m 561.25 600.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.25 514.5 m 385.25 514.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.25 501.5 m 385.25 501.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.25 499.5 m 385.25 499.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.25 514.5 m 429.25 514.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.25 501.5 m 429.25 501.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.25 499.5 m 429.25 499.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.25 514.5 m 473.25 514.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.25 501.5 m 473.25 501.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.25 499.5 m 473.25 499.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.25 514.5 m 517.25 514.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.25 501.5 m 517.25 501.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.25 499.5 m 517.25 499.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.25 514.5 m 561.25 514.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.25 501.5 m 561.25 501.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521.25 499.5 m 561.25 499.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.75 739.18 Td (Y) Tj ET Q q 0 0 0 rg BT 401.42 739.18 Td (ears Ended November) Tj ET Q q 0 0 0 rg BT 495.76 739.18 Td ( 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 51.75 725.06 Td (\(in millions, except for per shar) Tj ET Q q 0 0 0 rg BT 178.03 725.06 Td (e data\):) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.75 725.18 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.75 725.18 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.75 725.18 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.75 725.18 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.75 725.18 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.75 711.23 Td (Net income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.75 698.18 Td ( U.S. GAAP) Tj ET Q q 0 0 0 rg BT 112.59 698.18 Td ( net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.75 698.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.85 698.07 Td (3,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.75 698.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.85 698.07 Td (2,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.75 698.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.85 698.07 Td (2,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.75 698.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.85 698.07 Td (1,757) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.75 698.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.85 698.07 Td (1,216) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 51.75 690.10 207.16 -9.09 re f /GS0 gs q 0 0 0 rg BT 51.75 683.17 Td ( Unrealized \(gains\) losses on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.05 683.22 Td (\(94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.40 683.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.05 683.22 Td (\(227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.40 683.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.05 683.22 Td (\(236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.40 683.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.40 683.17 Td (332) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.40 683.17 Td (268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 668.17 Td ( \(Gains\) losses on ship sales and impairments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.05 668.22 Td (\(38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.40 668.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.40 668.17 Td (387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.05 668.22 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.40 668.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.05 668.22 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.40 668.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.40 668.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 653.17 Td ( Restructuring expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.40 653.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.40 653.17 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.40 653.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.40 653.17 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.40 653.17 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.75 638.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.40 638.17 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.40 638.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.40 638.17 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.40 638.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.40 638.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.75 624.18 Td ( ) Tj ET Q q 0 0 0 rg BT 63.97 624.18 Td (Adjusted net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.75 624.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.85 624.07 Td (3,029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.75 624.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.85 624.07 Td (2,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.75 624.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.85 624.07 Td (2,580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.75 624.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.85 624.07 Td (2,106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.75 624.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.85 624.07 Td (1,504) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.75 606.18 Td (W) Tj ET Q q 0 0 0 rg BT 61.47 606.18 Td (eighted-average shar) Tj ET Q q 0 0 0 rg BT 150.25 606.18 Td (es outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.40 606.07 Td (710) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.40 606.07 Td (725) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.40 606.07 Td (747) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.40 606.07 Td (779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.40 606.07 Td (778) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.75 588.23 Td (Earnings per) Tj ET Q q 0 0 0 rg BT 107.50 588.23 Td ( shar) Tj ET Q q 0 0 0 rg BT 128.71 588.23 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.75 575.18 Td ( U.S. GAAP) Tj ET Q q 0 0 0 rg BT 112.59 575.18 Td ( earnings per) Tj ET Q q 0 0 0 rg BT 168.33 575.18 Td ( shar) Tj ET Q q 0 0 0 rg BT 189.54 575.18 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.75 575.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.90 575.07 Td (4.44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.75 575.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.90 575.07 Td (3.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.75 575.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.90 575.07 Td (3.72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.75 575.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.90 575.07 Td (2.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.75 575.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.90 575.07 Td (1.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 561.07 Td ( Unrealized \(gains\) losses on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.55 561.12 Td (\(0.13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.40 561.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.55 561.12 Td (\(0.31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.40 561.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.55 561.12 Td (\(0.32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.40 561.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.90 561.07 Td (0.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.90 561.07 Td (0.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 547.07 Td ( \(Gains\) losses on ship sales and impairments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.55 547.12 Td (\(0.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.40 547.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.90 547.07 Td (0.53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.40 547.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.55 547.12 Td (\(0.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.40 547.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.40 547.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 533.07 Td ( Restructuring expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.40 533.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.40 533.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.40 533.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.90 533.07 Td (0.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.90 533.07 Td (0.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 519.07 Td ( Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.90 519.07 Td (0.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.40 519.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.90 519.07 Td (0.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.40 519.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.40 519.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.75 505.18 Td ( ) Tj ET Q q 0 0 0 rg BT 58.70 505.18 Td (Adjusted earnings per) Tj ET Q q 0 0 0 rg BT 153.52 505.18 Td ( shar) Tj ET Q q 0 0 0 rg BT 174.73 505.18 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.75 505.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.90 505.07 Td (4.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.75 505.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.90 505.07 Td (3.82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.75 505.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.90 505.07 Td (3.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.75 505.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.90 505.07 Td (2.70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.75 505.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.90 505.07 Td (1.93) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 477.00 Td (COMMON ST) Tj ET Q q 0 0 0 rg BT 90.43 477.00 Td (OCK ) Tj ET Q q 0 0 0 rg BT 115.15 477.00 Td (AND ORDINAR) Tj ET Q q 0 0 0 rg BT 186.75 477.00 Td (Y) Tj ET Q q 0 0 0 rg BT 193.60 477.00 Td ( SHARES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 447.60 Td (Carnival Corporation) Tj ET Q q 0 0 0 rg BT 115.04 447.60 Td (s common stock, together with paired trust shares of beneficial interest in the P&O Princess Special ) Tj ET Q q 0 0 0 rg BT 516.15 447.60 Td (V) Tj ET Q q 0 0 0 rg BT 522.08 447.60 Td (oting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 435.60 Td (T) Tj ET Q q 0 0 0 rg BT 32.76 435.60 Td (rust, which holds a Special ) Tj ET Q q 0 0 0 rg BT 142.56 435.60 Td (V) Tj ET Q q 0 0 0 rg BT 148.49 435.60 Td (oting Share of Carnival plc, is traded on the NYSE under the symbol CCL. Carnival plc) Tj ET Q q 0 0 0 rg BT 511.47 435.60 Td (s ordinary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 423.60 Td (shares trade on the London Stock Exchange under the symbol CCL. Carnival plc) Tj ET Q q 0 0 0 rg BT 362.19 423.60 Td (s ) Tj ET Q q 0 0 0 rg BT 368.03 423.60 Td (American Depository Shares \(ADSs\), each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 411.60 Td (one of which represents one Carnival plc ordinary share, are traded on the NYSE under the symbol CUK. ) Tj ET Q q 0 0 0 rg BT 460.57 411.60 Td (The depository for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 399.60 Td (ADSs is JPMor) Tj ET Q q 0 0 0 rg BT 89.06 399.60 Td (gan Chase Bank.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 375.60 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.44 375.60 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.15 375.60 Td (, there were 3,024 holders of record of Carnival Corporation common stock and 29,330 holders of record of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 363.60 Td (Carnival plc ordinary shares and 1) Tj ET Q q 0 0 0 rg BT 164.08 363.60 Td (13 holders of record of Carnival plc ) Tj ET Q q 0 0 0 rg BT 309.32 363.60 Td (ADSs.) Tj ET Q q 0 0 0 rg BT 338.04 363.60 Td (The past performance of our share prices cannot be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 351.60 Td (relied on as a guide to their future performance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.75 351.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 327.60 Td (All dividends for both Carnival Corporation and Carnival plc are declared in U.S. dollars.If declared, holders of Carnival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 315.60 Td (Corporation common stock and Carnival plc ) Tj ET Q q 0 0 0 rg BT 206.97 315.60 Td (ADSs receive a dividend payable in U.S. dollars.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.03 315.60 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.35 315.60 Td (The dividends payable for Carnival plc ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 303.60 Td (ordinary shares are payable in sterling, unless the shareholders elect to receive the dividends in U.S. dollars.Dividends payable in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 291.60 Td (sterling will be converted from U.S. dollars into sterling at the U.S. dollar to sterling exchange rate quoted by the Bank of England in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 279.60 Td (London at 12:00 p.m. on the next combined U.S. and UK business day that follows the quarter end. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.71 279.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 255.60 Td (The payment and amount of any future dividend is within the discretion of the Boards of Directors.Our dividends were and will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 243.60 Td (based on a number of factors, including our earnings, liquidity position, financial condition, tone of business, capital requirements, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 231.60 Td (credit ratings and the availability and cost of obtaining new debt.) Tj ET Q q 0 0 0 rg BT 288.97 231.60 Td (W) Tj ET Q q 0 0 0 rg BT 297.61 231.60 Td (e cannot be certain that Carnival Corporation and Carnival plc ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 219.60 Td (will continue their dividend in the future, and if so, the amount and timing of such future dividends are not determinable and may be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 207.60 Td (dif) Tj ET Q q 0 0 0 rg BT 37.93 207.60 Td (ferent than prior declarations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.21 207.60 Td ( ) Tj ET Q endstream endobj 213 0 obj <>] /Rotate 0 /Contents 214 0 R>> endobj 214 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (ST) Tj ET Q q 0 0 0 rg BT 62.05 742.25 Td (OCK PERFORMANCE GRAPHS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.50 718.25 Td (Carnival Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (The following graph compares the Price Performance of $100 if invested in Carnival Corporation common stock with the Price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (Performance of $100 if invested in each of the Dow Jones U.S. Recreational Services Index \(the Dow Jones Recreational ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (Index\), the FTSE 100 Index and the S&P) Tj ET Q q 0 0 0 rg BT 219.05 670.25 Td ( 500 Index.) Tj ET Q q 0 0 0 rg BT 266.64 670.25 Td (The Price Performance, as used in the Performance Graph, is calculated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (by assuming $100 is invested at the beginning of the period in Carnival Corporation common stock at a price equal to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (market value. ) Tj ET Q q 0 0 0 rg BT 106.37 646.25 Td (At the end of each year) Tj ET Q q 0 0 0 rg BT 198.97 646.25 Td (, the total value of the investment is computed by taking the number of shares owned, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (assuming Carnival Corporation dividends are reinvested, multiplied by the market price of the shares.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.84 634.25 Td ( ) Tj ET Q /GS0 gs q 498.00 0 0 348.00 57.00 269.25 cm /I54 Do Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 65.00 216.75 249.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 216.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.00 216.75 34.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 216.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 216.75 34.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 216.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 216.75 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 216.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.00 216.75 34.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 216.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 216.75 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 216.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 216.75 36.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 65.00 188.75 249.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 188.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.00 188.75 34.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 188.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 188.75 34.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 188.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 188.75 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 188.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.00 188.75 34.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 188.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 188.75 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 188.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 188.75 36.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 230.75 m 318 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318 230.75 m 352 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352 230.75 m 356 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 230.75 m 390 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 230.75 m 394 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 230.75 m 318 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318 230.75 m 352 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318 216.75 m 352 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352 230.75 m 356 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 230.75 m 390 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 216.75 m 390 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 230.75 m 394 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 230.75 m 429 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 216.75 m 429 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 230.75 m 433 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433 230.75 m 467 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433 216.75 m 467 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 230.75 m 471 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 230.75 m 506 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 216.75 m 506 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 230.75 m 510 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 230.75 m 546 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 216.75 m 546 216.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.65 254.48 Td (Assumes $100 Invested on November) Tj ET Q q 0 0 0 rg BT 489.89 254.48 Td ( 30, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.65 244.48 Td (Assumes Dividends Reinvested) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.50 234.48 Td (Y) Tj ET Q q 0 0 0 rg BT 378.17 234.48 Td (ears Ended November) Tj ET Q q 0 0 0 rg BT 472.51 234.48 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.50 221.43 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.50 221.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.00 221.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.50 221.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.00 221.43 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.50 221.43 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 207.32 Td (Carnival Corporation Common Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.50 207.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.10 207.32 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 207.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.10 207.32 Td (125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 207.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.10 207.32 Td (147) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.50 207.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 207.32 Td (154) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.50 207.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.10 207.32 Td (200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 207.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.10 207.32 Td (189) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 193.32 Td (Dow Jones Recreational Index) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.50 193.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.10 193.32 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 193.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.10 193.32 Td (133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 193.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.10 193.32 Td (148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.50 193.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 193.32 Td (144) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.50 193.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.10 193.32 Td (193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 193.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.10 193.32 Td (192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 179.32 Td (FTSE 100 Index) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.50 179.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.10 179.32 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 179.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.15 179.32 Td (99) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 179.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 179.32 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.50 179.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 179.32 Td (87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.50 179.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.10 179.32 Td (105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 179.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 179.32 Td (98) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 165.32 Td (S&P) Tj ET Q q 0 0 0 rg BT 86.03 165.32 Td ( 500 Index) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.50 165.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.10 165.32 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 165.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.10 165.32 Td (1) Tj ET Q q 0 0 0 rg BT 376.10 165.32 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 165.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.10 165.32 Td (120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.50 165.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 165.32 Td (130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.50 165.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.10 165.32 Td (159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 165.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.10 165.32 Td (169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.50 161.25 Td ( ) Tj ET Q endstream endobj 215 0 obj <>] /Rotate 0 /Contents 216 0 R>> endobj 216 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-56) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.50 742.25 Td (Carnival plc) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (The following graph compares the Price Performance of $100 invested in Carnival plc ) Tj ET Q q 0 0 0 rg BT 397.40 718.25 Td (ADSs, each representing one ordinary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (share of Carnival plc, with the Price Performance of $100 invested in each of the indexes noted below) Tj ET Q q 0 0 0 rg BT 457.55 706.25 Td (. ) Tj ET Q q 0 0 0 rg BT 462.37 706.25 Td (The Price Performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (is calculated in the same manner as previously discussed.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.10 694.25 Td ( ) Tj ET Q /GS0 gs q 497.00 0 0 351.00 57.50 326.25 cm /I55 Do Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 65.00 273.75 253.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.00 273.75 34.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 273.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 273.75 34.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 273.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 273.75 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 273.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.00 273.75 34.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 273.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 273.75 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 273.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 273.75 36.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 65.00 245.75 253.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.00 245.75 34.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 245.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 245.75 34.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 245.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 245.75 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 245.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.00 245.75 34.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 245.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 245.75 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 245.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 245.75 36.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318 287.75 m 352 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352 287.75 m 356 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 287.75 m 390 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 287.75 m 394 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 287.75 m 429 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 287.75 m 433 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318 287.75 m 352 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318 273.75 m 352 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352 287.75 m 356 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 287.75 m 390 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 273.75 m 390 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 287.75 m 394 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 287.75 m 429 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 273.75 m 429 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 287.75 m 433 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433 287.75 m 467 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433 273.75 m 467 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 287.75 m 471 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 287.75 m 506 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 273.75 m 506 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 287.75 m 510 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 287.75 m 546 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 273.75 m 546 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318 273.75 m 352 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 273.75 m 390 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 273.75 m 429 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433 273.75 m 467 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 273.75 m 506 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 273.75 m 546 273.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.65 311.48 Td (Assumes $100 Invested on November) Tj ET Q q 0 0 0 rg BT 491.89 311.48 Td ( 30, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.65 301.48 Td (Assumes Dividends Reinvested) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.50 291.48 Td (Y) Tj ET Q q 0 0 0 rg BT 380.17 291.48 Td (ears Ended November) Tj ET Q q 0 0 0 rg BT 474.51 291.48 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.50 278.43 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.50 278.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.00 278.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.50 278.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.00 278.43 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.50 278.43 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 264.32 Td (Carnival plc ) Tj ET Q q 0 0 0 rg BT 118.87 264.32 Td (ADS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.50 264.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.10 264.32 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 264.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.10 264.32 Td (124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 264.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.10 264.32 Td (150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.50 264.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 264.32 Td (150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.50 264.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.10 264.32 Td (200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 264.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.10 264.32 Td (185) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 250.32 Td (Dow Jones Recreational Index) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.50 250.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.10 250.32 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 250.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.10 250.32 Td (133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 250.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.10 250.32 Td (148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.50 250.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 250.32 Td (144) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.50 250.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.10 250.32 Td (193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 250.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.10 250.32 Td (192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 236.32 Td (FTSE 100 Index) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.50 236.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.10 236.32 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 236.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.15 236.32 Td (99) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 236.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 236.32 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.50 236.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 236.32 Td (87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.50 236.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.10 236.32 Td (105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 236.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 236.32 Td (98) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 222.32 Td (S&P) Tj ET Q q 0 0 0 rg BT 86.03 222.32 Td ( 500 Index) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.50 222.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.10 222.32 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 222.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.10 222.32 Td (1) Tj ET Q q 0 0 0 rg BT 376.10 222.32 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 222.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.10 222.32 Td (120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.50 222.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 222.32 Td (130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.50 222.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.10 222.32 Td (159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 222.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.10 222.32 Td (169) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 217 0 obj <>] /Rotate 0 /Contents 218 0 R>> endobj 218 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 742.25 Td (SELECTED QUAR) Tj ET Q q 0 0 0 rg BT 111.95 742.25 Td (TERL) Tj ET Q q 0 0 0 rg BT 138.26 742.25 Td (Y) Tj ET Q q 0 0 0 rg BT 145.11 742.25 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 203.73 742.25 Td ( DA) Tj ET Q q 0 0 0 rg BT 219.93 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 225.86 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 232.53 742.25 Td ( \(UNAUDITED\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 718.25 Td (Our revenues from the sale of passenger tickets are seasonal.Historically) Tj ET Q q 0 0 0 rg BT 319.30 718.25 Td (, demand for cruises has been greatest during our third ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 706.25 Td (quarter) Tj ET Q q 0 0 0 rg BT 54.92 706.25 Td (, which includes the Northern Hemisphere summer months.) Tj ET Q q 0 0 0 rg BT 295.79 706.25 Td (This higher demand during the third quarter results in higher ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 694.25 Td (ticket prices and occupancy levels and, accordingly) Tj ET Q q 0 0 0 rg BT 232.10 694.25 Td (, the lar) Tj ET Q q 0 0 0 rg BT 262.18 694.25 Td (gest share of our operating income is earned during this period.) Tj ET Q q 0 0 0 rg BT 517.48 694.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 682.25 Td (seasonality of our results also increases due to ships being taken out-of-service for maintenance, which we schedule during non-peak ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 670.25 Td (demand periods.In addition, substantially all of Holland ) Tj ET Q q 0 0 0 rg BT 254.74 670.25 Td (America Princess ) Tj ET Q q 0 0 0 rg BT 326.94 670.25 Td (Alaska ) Tj ET Q q 0 0 0 rg BT 357.03 670.25 Td (T) Tj ET Q q 0 0 0 rg BT 362.44 670.25 Td (ours) Tj ET Q q 0 0 0 rg BT 382.25 670.25 Td ( revenue and net income is generated from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 658.25 Td (May through September in conjunction with the ) Tj ET Q q 0 0 0 rg BT 221.14 658.25 Td (Alaska cruise season. ) Tj ET Q q 0 0 0 rg BT 309.26 658.25 Td (The quarterly data below) Tj ET Q q 0 0 0 rg BT 408.85 658.25 Td (, in the opinion of management, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 646.25 Td (include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 634.25 Td (unaudited interim periods.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.25 634.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 37.00 583.75 243.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 583.75 69.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 583.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 583.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 583.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 583.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 583.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 583.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 37.00 555.75 243.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 555.75 69.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 555.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 555.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 555.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 555.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 555.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 555.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 37.00 527.75 243.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 527.75 69.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 527.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 527.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 527.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 527.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 527.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 527.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 37.00 499.75 243.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 499.75 69.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 499.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 499.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 499.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 499.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 499.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 499.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 37.00 471.75 243.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 471.75 69.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.00 471.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 471.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 471.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 471.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 471.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 471.75 64.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 597.75 m 349 597.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 597.75 m 353 597.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 597.75 m 416 597.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 597.75 m 420 597.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 597.75 m 483 597.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483 597.75 m 487 597.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 597.75 m 551 597.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 583.75 m 349 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 583.75 m 416 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 583.75 m 483 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 583.75 m 551 583.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.15 602.43 Td (2018 Quarters Ended) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 39.50 588.31 Td (\(in millions, except per shar) Tj ET Q q 0 0 0 rg BT 151.61 588.31 Td (e data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 284.95 588.43 Td ( February 28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.00 588.43 Td (May 31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.45 588.43 Td (August 31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.10 588.43 Td (November) Tj ET Q q 0 0 0 rg BT 534.35 588.43 Td ( 30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 574.32 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 574.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.65 574.32 Td (4,232) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.50 574.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 574.32 Td (4,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.50 574.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 574.32 Td (5,836) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 574.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.65 574.32 Td (4,456) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 560.32 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 560.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.15 560.32 Td (419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.50 560.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 560.32 Td (559) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.50 560.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 560.32 Td (1,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 560.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 560.32 Td (552) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 546.32 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 546.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.15 546.32 Td (391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.50 546.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 546.32 Td (561) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.50 546.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 546.32 Td (1,707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 546.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 546.32 Td (494) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 532.32 Td (Earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 518.32 Td ( Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 518.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.65 518.32 Td (0.54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.50 518.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 518.32 Td (0.79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.50 518.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 518.32 Td (2.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 518.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.65 518.32 Td (0.71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 504.32 Td ( Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 504.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.65 504.32 Td (0.54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.50 504.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 504.32 Td (0.78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.50 504.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 504.32 Td (2.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 504.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.65 504.32 Td (0.71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 490.32 Td (Adjusted net income \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 490.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.15 490.32 Td (375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.50 490.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 490.32 Td (489) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.50 490.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 490.32 Td (1,673) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 490.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 490.32 Td (492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 476.32 Td (Adjusted earnings per share - diluted \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 476.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.65 476.32 Td (0.52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.50 476.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 476.32 Td (0.68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.50 476.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 476.32 Td (2.36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 476.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.65 476.32 Td (0.70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.50 462.32 Td (Dividends declared per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 462.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.65 462.32 Td (0.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.50 462.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 462.32 Td (0.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.50 462.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 462.32 Td (0.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 462.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.65 462.32 Td (0.50) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 446.25 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 63.00 446.25 Td (Adjusted net income and adjusted fully diluted earnings per share were computed as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 39.00 395.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 395.75 61.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 395.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 395.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 395.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 395.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 395.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 395.75 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 39.00 368.75 247.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 368.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 368.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 368.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 368.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 368.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 368.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 368.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 39.00 340.75 247.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 340.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 340.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 340.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 340.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 340.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 340.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 340.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 39.00 312.75 247.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 312.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 312.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 312.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 312.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 312.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 312.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 312.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 39.00 276.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 276.75 61.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 276.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 276.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 276.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 276.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 276.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 276.75 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 39.00 249.75 247.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 249.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 249.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 249.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 249.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 249.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 249.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 249.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 39.00 221.75 247.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 221.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 221.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 221.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 221.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 221.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 221.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 221.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 39.00 193.75 247.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.00 193.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 193.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 193.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 193.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 193.75 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 193.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 193.75 64.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286 409.75 m 347 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 409.75 m 351 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 409.75 m 414 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 409.75 m 418 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 409.75 m 481 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 409.75 m 485 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 409.75 m 549 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286 395.75 m 347 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 395.75 m 414 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 395.75 m 481 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 395.75 m 549 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 395.75 m 481 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 312.75 m 549 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286 312.75 m 347 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286 299.75 m 347 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286 297.75 m 347 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 312.75 m 414 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 299.75 m 414 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 297.75 m 414 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 312.75 m 481 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 299.75 m 481 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 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0 0 0 rg BT 288.50 303.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 303.32 Td (375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 303.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 303.32 Td (489) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 303.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 303.32 Td (1,673) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 303.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 303.32 Td (492) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 285.43 Td (W) Tj ET Q q 0 0 0 rg BT 51.22 285.43 Td (eighted-average shar) Tj ET Q q 0 0 0 rg BT 140.00 285.43 Td (es outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 285.32 Td (719) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 285.32 Td (715) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 285.32 Td (707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 285.32 Td (699) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 267.48 Td (Earnings per) Tj ET Q q 0 0 0 rg BT 97.25 267.48 Td ( shar) Tj ET Q q 0 0 0 rg BT 118.46 267.48 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 254.43 Td ( U.S. GAAP) Tj ET Q q 0 0 0 rg BT 102.34 254.43 Td ( earnings per) Tj ET Q q 0 0 0 rg BT 158.08 254.43 Td ( shar) Tj ET Q q 0 0 0 rg BT 179.29 254.43 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 254.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 254.32 Td (0.54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 254.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 254.32 Td (0.78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 254.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 254.32 Td (2.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 254.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.65 254.32 Td (0.71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.50 240.32 Td ( Unrealized \(gains\) losses on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.30 240.37 Td (\(0.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.15 240.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 240.37 Td (\(0.07) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 240.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.30 240.37 Td (\(0.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 240.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.30 240.37 Td (\(0.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 240.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 226.32 Td (\(Gains\) losses on ship sales and impairments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 226.32 Td (0.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 226.37 Td (\(0.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 226.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.30 226.37 Td (\(0.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 226.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 226.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.50 212.32 Td ( Restructuring expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 212.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 212.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 212.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 212.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.50 198.32 Td ( Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 198.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 198.32 Td (0.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 198.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 198.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 184.43 Td ( ) Tj ET Q q 0 0 0 rg BT 53.45 184.43 Td (Adjusted earnings per) Tj ET Q q 0 0 0 rg BT 148.27 184.43 Td ( shar) Tj ET Q q 0 0 0 rg BT 169.48 184.43 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 184.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 184.32 Td (0.52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 184.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 184.32 Td (0.68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 184.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 184.32 Td (2.36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 184.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.65 184.32 Td (0.70) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 219 0 obj <>] /Rotate 0 /Contents 220 0 R>> endobj 220 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-58) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 720.50 254.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 720.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 720.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 720.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 720.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 720.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 720.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 720.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 692.50 254.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 692.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 692.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 692.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 692.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 692.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 692.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 692.50 65.00 -14.00 re f /GS0 gs 0.8 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1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 734.5 m 424.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 734.5 m 428.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 734.5 m 493.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 734.5 m 497.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 734.5 m 562.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 720.5 m 355.5 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 720.5 m 424.5 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 720.5 m 493.5 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 720.5 m 355.5 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 720.5 m 424.5 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 720.5 m 493.5 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 720.5 m 562.5 720.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.15 739.18 Td (2017 Quarters Ended) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 39.00 725.06 Td (\(in millions, except per shar) Tj ET Q q 0 0 0 rg BT 151.11 725.06 Td (e data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 293.45 725.18 Td ( February 28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.50 725.18 Td (May 31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.95 725.18 Td (August 31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.10 725.18 Td (November) Tj ET Q q 0 0 0 rg BT 545.35 725.18 Td ( 30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.00 711.07 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 711.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.15 711.07 Td (3,791) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 711.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 711.07 Td (3,945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 711.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 711.07 Td (5,515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 711.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 711.07 Td (4,259) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.00 697.07 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 697.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 697.07 Td (368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 697.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 697.07 Td (500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 697.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 697.07 Td (1,393) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 697.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 697.07 Td (548) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.00 683.07 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 683.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 683.07 Td (352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 683.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 683.07 Td (379) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 683.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 683.07 Td (1,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 683.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 683.07 Td (546) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.00 669.07 Td (Earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.00 655.07 Td ( Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 655.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 655.07 Td (0.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 655.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 655.07 Td (0.52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 655.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 655.07 Td (1.84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 655.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 655.07 Td (0.76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.00 641.07 Td ( Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 641.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 641.07 Td (0.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 641.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 641.07 Td (0.52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 641.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 641.07 Td (1.83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 641.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 641.07 Td (0.76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.00 627.07 Td (Adjusted net income \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 627.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 627.07 Td (279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 627.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 627.07 Td (378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 627.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 627.07 Td (1,659) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 627.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 627.07 Td (452) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.00 613.07 Td (Adjusted earnings per share - diluted \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 613.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 613.07 Td (0.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 613.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 613.07 Td (0.52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 613.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 613.07 Td (2.29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 613.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 613.07 Td (0.63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.00 599.07 Td (Dividends declared per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 599.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 599.07 Td (0.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 599.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 599.07 Td (0.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 599.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 599.07 Td (0.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 599.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 599.07 Td (0.45) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 583.00 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 63.00 583.00 Td (Adjusted net income and adjusted fully diluted earnings per share were computed as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 532.50 256.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 532.50 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 532.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 532.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 532.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 532.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 532.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 532.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 505.50 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 505.50 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 505.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 505.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 505.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 505.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 505.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 505.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 477.50 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 477.50 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 477.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 477.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 477.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 477.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 477.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 477.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 449.50 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 449.50 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 449.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 449.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 449.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 449.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 449.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 449.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 413.50 256.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 413.50 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 413.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 413.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 413.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 413.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 413.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 413.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 386.50 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 386.50 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 386.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 386.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 386.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 386.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 386.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 386.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 358.50 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 358.50 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 358.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 358.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 358.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 358.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 358.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 358.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 36.50 330.50 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 330.50 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 330.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 330.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 330.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 330.50 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 330.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 330.50 65.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 546.5 m 355.5 546.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 546.5 m 359.5 546.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 546.5 m 424.5 546.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 546.5 m 428.5 546.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 546.5 m 493.5 546.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 546.5 m 497.5 546.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 546.5 m 562.5 546.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 532.5 m 355.5 532.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 532.5 m 424.5 532.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 532.5 m 493.5 532.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 532.5 m 562.5 532.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 532.5 m 493.5 532.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 449.5 m 355.5 449.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 449.5 m 424.5 449.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 449.5 m 493.5 449.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 449.5 m 355.5 449.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 436.5 m 355.5 436.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 434.5 m 355.5 434.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 449.5 m 424.5 449.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 436.5 m 424.5 436.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 434.5 m 424.5 434.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 449.5 m 493.5 449.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 436.5 m 493.5 436.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 434.5 m 493.5 434.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 449.5 m 562.5 449.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 436.5 m 562.5 436.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 434.5 m 562.5 434.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 418.5 m 355.5 418.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 416.5 m 355.5 416.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 418.5 m 424.5 418.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 416.5 m 424.5 416.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 418.5 m 493.5 418.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 416.5 m 493.5 416.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 418.5 m 562.5 418.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 416.5 m 562.5 416.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 330.5 m 355.5 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 330.5 m 424.5 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 330.5 m 493.5 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 330.5 m 355.5 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 317.5 m 355.5 317.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.5 315.5 m 355.5 315.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 330.5 m 424.5 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 317.5 m 424.5 317.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 315.5 m 424.5 315.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 330.5 m 493.5 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 317.5 m 493.5 317.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 315.5 m 493.5 315.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 330.5 m 562.5 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 317.5 m 562.5 317.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 315.5 m 562.5 315.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.15 551.18 Td (2017 Quarters Ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 39.00 537.06 Td (\(in millions, except per shar) Tj ET Q q 0 0 0 rg BT 151.11 537.06 Td (e data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.95 537.18 Td (February 28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.00 537.18 Td ( May 31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.95 537.18 Td ( ) Tj ET Q q 0 0 0 rg BT 439.90 537.18 Td (August 31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.10 537.18 Td (November) Tj ET Q q 0 0 0 rg BT 545.35 537.18 Td ( 30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 523.23 Td (Net income ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 510.18 Td ( U.S. GAAP) Tj ET Q q 0 0 0 rg BT 99.56 510.18 Td ( net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 510.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 510.07 Td (352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 510.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 510.07 Td (379) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 510.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 510.07 Td (1,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 510.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 510.07 Td (546) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.00 496.07 Td ( Unrealized losses \(gains\) on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.30 496.12 Td (\(72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.65 496.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 496.07 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.30 496.12 Td (\(65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 496.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 496.07 Td (\(93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 496.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 482.07 Td (\(Gains\) losses on ship sales and impairments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.65 482.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.30 482.12 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 482.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 482.07 Td (392) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 482.07 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 482.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 468.07 Td (Restructuring expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.65 468.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 468.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 468.07 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 468.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.00 454.07 Td ( Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.30 454.12 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.65 454.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 454.07 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 454.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 454.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 440.18 Td ( ) Tj ET Q q 0 0 0 rg BT 50.95 440.18 Td (Adjusted net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 440.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 440.07 Td (279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 440.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 440.07 Td (378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 440.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 440.07 Td (1,659) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 440.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 440.07 Td (452) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 422.18 Td (W) Tj ET Q q 0 0 0 rg BT 48.45 422.18 Td (eighted-average shar) Tj ET Q q 0 0 0 rg BT 137.41 422.18 Td (es outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 422.07 Td (728) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 422.07 Td (727) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 422.07 Td (726) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 422.07 Td (722) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 404.23 Td (Earnings per) Tj ET Q q 0 0 0 rg BT 94.66 404.23 Td ( shar) Tj ET Q q 0 0 0 rg BT 115.87 404.23 Td (e ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 391.18 Td ( U.S. GAAP) Tj ET Q q 0 0 0 rg BT 99.56 391.18 Td ( earnings per) Tj ET Q q 0 0 0 rg BT 155.49 391.18 Td ( shar) Tj ET Q q 0 0 0 rg BT 176.70 391.18 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 391.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 391.07 Td (0.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 391.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 391.07 Td (0.52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 391.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 391.07 Td (1.83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 391.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 391.07 Td (0.76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.00 377.07 Td ( Unrealized \(gains\) losses on fuel derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.80 377.12 Td (\(0.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.65 377.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 377.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.80 377.12 Td (\(0.09) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 377.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 377.07 Td (\(0.13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 377.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 363.07 Td (\(Gains\) losses on ship sales and impairments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.65 363.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 363.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 363.07 Td (0.55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 363.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.00 349.07 Td ( Restructuring expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.65 349.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 349.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 349.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 349.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 39.00 335.07 Td ( Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.65 335.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 335.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 335.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 335.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 321.18 Td ( ) Tj ET Q q 0 0 0 rg BT 50.95 321.18 Td (Adjusted earnings per) Tj ET Q q 0 0 0 rg BT 145.77 321.18 Td ( shar) Tj ET Q q 0 0 0 rg BT 166.98 321.18 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 321.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 321.07 Td (0.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 321.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 321.07 Td (0.52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 321.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 321.07 Td (2.29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 321.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 321.07 Td (0.63) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 221 0 obj <> endobj 222 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.80 760.75 Td (Exhibit 21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 711.25 Td (SUBSIDIARIES OF) Tj ET Q q 0 0 0 rg BT 113.60 711.25 Td ( CARNIV) Tj ET Q q 0 0 0 rg BT 154.81 711.25 Td (AL) Tj ET Q q 0 0 0 rg BT 168.15 711.25 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 220.46 711.25 Td (TION ) Tj ET Q q 0 0 0 rg BT 247.97 711.25 Td (AND CARNIV) Tj ET Q q 0 0 0 rg BT 310.85 711.25 Td (AL) Tj ET Q q 0 0 0 rg BT 324.19 711.25 Td ( PLC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 677.25 Td (The following is a list of all of our subsidiaries, their jurisdiction of incorporation and the names under which they do business. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 618.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 618.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 588.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 588.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 558.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 558.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 528.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 528.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 498.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 498.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 468.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 468.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 438.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 438.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 408.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 408.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 378.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 378.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 348.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 348.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 318.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 318.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 288.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 288.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 258.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 258.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 228.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 228.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 198.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 198.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 168.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 168.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 138.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 138.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 108.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 108.75 108.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 26.50 78.75 450.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 78.75 108.00 -15.00 re f /GS0 gs BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 29 621.86259765625 m 113.453125 621.86259765625 l s q 0 0 0 rg BT 29.00 623.43 Td (Name of Subsidiary) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.00 643.43 Td (Jurisdiction of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.00 633.43 Td (Incorporation) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 495.75 621.86259765625 m 564.1728515625 621.86259765625 l s q 0 0 0 rg BT 495.75 623.43 Td (or) Tj ET Q q 0 0 0 rg BT 505.01 623.43 Td ( Organization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 608.42 Td (6348 Equipment LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.55 608.42 Td (Florida) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 593.42 Td (A.C.N. 098 290 834 Pty) Tj ET Q q 0 0 0 rg BT 125.63 593.42 Td (. Ltd.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.65 593.42 Td (Australia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 578.42 Td (A.J. Juneau Dock, LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.10 578.42 Td (Alaska) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 563.42 Td (AIDA) Tj ET Q q 0 0 0 rg BT 53.72 563.42 Td ( Kundencenter GmbH) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.35 563.42 Td (Germany) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 548.42 Td (Air) Tj ET Q q 0 0 0 rg BT 42.23 548.42 Td (-Sea Holiday GmbH) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.10 548.42 Td (Switzerland) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 533.42 Td (Alaska Hotel Properties LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.80 533.42 Td (Delaware) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 518.42 Td (Barcelona Cruise ) Tj ET Q q 0 0 0 rg BT 100.55 518.42 Td (T) Tj ET Q q 0 0 0 rg BT 106.22 518.42 Td (erminal SLU) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 518.42 Td (Spain) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 503.42 Td (Bay Island Cruise Port, S.A.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.55 503.42 Td (Honduras) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 488.42 Td (Belize Cruise ) Tj ET Q q 0 0 0 rg BT 85.56 488.42 Td (T) Tj ET Q q 0 0 0 rg BT 91.23 488.42 Td (erminal Limited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.20 488.42 Td (Belize) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 473.42 Td (Carnival \(UK\) Limited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.75 473.42 Td (UK) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 458.42 Td (Carnival Bahamas FC Limited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.65 458.42 Td (Bahamas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 443.42 Td (Carnival Bahamas Holdings Limited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.65 443.42 Td (Bahamas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 428.42 Td (Carnival Celebration, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.40 428.42 Td (T) Tj ET Q q 0 0 0 rg BT 524.16 428.42 Td (exas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 413.42 Td (Carnival Corporation & plc ) Tj ET Q q 0 0 0 rg BT 141.48 413.42 Td (Asia \(Hong Kong\) Limited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.50 413.42 Td (Hong Kong) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 398.42 Td (Carnival Corporation & plc ) Tj ET Q q 0 0 0 rg BT 141.48 398.42 Td (Asia Pte. Ltd.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.70 398.42 Td (Singapore) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 383.42 Td (Carnival Corporation Hong Kong Limited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.50 383.42 Td (Hong Kong) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 368.42 Td (Carnival Corporation Korea Ltd.) 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 323.42 Td (Japan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 308.42 Td (Carnival License Holdings Limited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.65 308.42 Td (Bahamas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 293.42 Td (Carnival Maritime GmbH) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.35 293.42 Td (Germany) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 278.42 Td (Carnival North ) Tj ET Q q 0 0 0 rg BT 91.49 278.42 Td (America LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.55 278.42 Td (Florida) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 263.42 Td (Carnival Port Holdings Limited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.75 263.42 Td (UK) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 29.00 248.42 Td (Carnival Ports Inc.) 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Donald) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 200.25 Td (President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 161.22 200.25 Td (ficer) Tj ET Q endstream endobj 235 0 obj <> endobj 236 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.30 740.25 Td (Exhibit 31.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 707.25 Td (I, David Bernstein, certify that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 686.25 Td (1. I have reviewed this ) Tj ET Q q 0 0 0 rg BT 119.75 686.25 Td (Annual Report on Form 10-K of Carnival Corporation;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 665.25 Td (2. 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 248.25 Td (Date: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.16 248.25 Td (January28, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.75 248.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 222.9169921875 m 104.2119140625 222.9169921875 l s q 0 0 0 rg BT 27.00 224.25 Td (/s/ David Bernstein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.21 224.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 212.25 Td (David Bernstein ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 200.25 Td (Chief Financial Of) Tj ET Q q 0 0 0 rg BT 101.80 200.25 Td (ficer and Chief ) Tj ET Q q 0 0 0 rg BT 163.72 200.25 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 223.25 200.25 Td (ficer ) Tj ET Q endstream endobj 237 0 obj <> endobj 238 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.80 740.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.30 740.10 Td (Exhibit 31.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 716.10 Td (I, ) Tj ET Q q 0 0 0 rg BT 34.78 716.10 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 65.43 716.10 Td (W) Tj ET Q q 0 0 0 rg BT 73.95 716.10 Td (. Donald, certify that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 692.10 Td (1. I have reviewed this ) Tj ET Q q 0 0 0 rg BT 119.75 692.10 Td (Annual Report on Form 10-K of Carnival plc;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 668.10 Td (2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 656.10 Td (make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 644.10 Td (covered by this report; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 620.10 Td (3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 608.10 Td (respects the financial condition, results of operations and cash flows of the registrant as of, and for) Tj ET Q q 0 0 0 rg BT 420.37 608.10 Td (, the periods presented in this report; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 584.10 Td (4. ) Tj ET Q q 0 0 0 rg BT 36.82 584.10 Td (The registrant) Tj ET Q q 0 0 0 rg BT 95.41 584.10 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 174.37 584.10 Td (ficer and I are responsible for establishing and maintaining disclosure controls and procedures \(as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 572.10 Td (defined in Exchange ) Tj ET Q q 0 0 0 rg BT 111.14 572.10 Td (Act Rules 13a-15\(e\) and 15d-15\(e\)\) and internal control over financial reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 532.92 572.10 Td (Act Rules ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 560.10 Td (13a-15\(f\) and 15d-15\(f\)\) for the registrant and have:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 536.10 Td (\(a\) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 524.10 Td (supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 512.10 Td (others within those entities, particularly during the period in which this report is being prepared;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 488.10 Td (\(b\) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 476.10 Td (our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 464.10 Td (for external purposes in accordance with generally accepted accounting principles;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 440.10 Td (\(c\) Evaluated the ef) Tj ET Q q 0 0 0 rg BT 105.38 440.10 Td (fectiveness of the registrant) Tj ET Q q 0 0 0 rg BT 218.40 440.10 Td (s disclosure controls and procedures and presented in this report our conclusions about the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 428.10 Td (ef) Tj ET Q q 0 0 0 rg BT 34.59 428.10 Td (fectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 404.10 Td (\(d\) Disclosed in this report any change in the registrant) Tj ET Q q 0 0 0 rg BT 249.99 404.10 Td (s internal control over financial reporting that occurred during the registrant) Tj ET Q q 0 0 0 rg BT 555.99 404.10 Td (s most ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 392.10 Td (recent fiscal quarter \(the registrant) Tj ET Q q 0 0 0 rg BT 167.48 392.10 Td (s fourth fiscal quarter in the case of an annual report\) that has materially af) Tj ET Q q 0 0 0 rg BT 466.07 392.10 Td (fected, or is reasonably likely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 380.10 Td (to materially af) Tj ET Q q 0 0 0 rg BT 87.90 380.10 Td (fect, the registrant) Tj ET Q q 0 0 0 rg BT 163.15 380.10 Td (s internal control over financial reporting; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 356.10 Td (5. ) Tj ET Q q 0 0 0 rg BT 36.82 356.10 Td (The registrant) Tj ET Q q 0 0 0 rg BT 95.41 356.10 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 174.37 356.10 Td (ficer and I have disclosed, based on our most recent evaluation of internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 344.10 Td (reporting, to the registrant) Tj ET Q q 0 0 0 rg BT 134.19 344.10 Td (s auditors and the audit committee of the registrant) Tj ET Q q 0 0 0 rg BT 340.25 344.10 Td (s board of directors \(or persons performing the equivalent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 332.10 Td (functions\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 308.10 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 40.05 308.10 Td (All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 296.10 Td (reasonably likely to adversely af) Tj ET Q q 0 0 0 rg BT 156.77 296.10 Td (fect the registrant) Tj ET Q q 0 0 0 rg BT 229.51 296.10 Td (s ability to record, process, summarize and report financial information; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 272.10 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 40.61 272.10 Td (Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant) Tj ET Q q 0 0 0 rg BT 547.95 272.10 Td (s internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 260.10 Td (control over financial reporting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 224.10 Td (Date: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.16 224.10 Td (January28, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.75 224.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 198.76699218750002 m 112.0048828125 198.76699218750002 l s q 0 0 0 rg BT 27.00 200.10 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 38.40 200.10 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 69.05 200.10 Td (W) Tj ET Q q 0 0 0 rg BT 77.57 200.10 Td (. Donald) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.00 200.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 188.10 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 57.65 188.10 Td (W) Tj ET Q q 0 0 0 rg BT 66.17 188.10 Td (. Donald) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 176.10 Td (President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 161.22 176.10 Td (ficer) Tj ET Q endstream endobj 239 0 obj <> endobj 240 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.30 740.25 Td (Exhibit 31.4) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 716.25 Td (I, David Bernstein, certify that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 692.25 Td (1. I have reviewed this ) Tj ET Q q 0 0 0 rg BT 119.75 692.25 Td (Annual Report on Form 10-K of Carnival plc;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 668.25 Td (2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 656.25 Td (make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 644.25 Td (covered by this report; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 620.25 Td (3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 608.25 Td (respects the financial condition, results of operations and cash flows of the registrant as of, and for) Tj ET Q q 0 0 0 rg BT 420.37 608.25 Td (, the periods presented in this report; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 584.25 Td (4. ) Tj ET Q q 0 0 0 rg BT 36.82 584.25 Td (The registrant) Tj ET Q q 0 0 0 rg BT 95.41 584.25 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 174.37 584.25 Td (ficer and I are responsible for establishing and maintaining disclosure controls and procedures \(as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 572.25 Td (defined in Exchange ) Tj ET Q q 0 0 0 rg BT 111.14 572.25 Td (Act Rules 13a-15\(e\) and 15d-15\(e\)\) and internal control over financial reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 532.92 572.25 Td (Act Rules ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 560.25 Td (13a-15\(f\) and 15d-15\(f\)\) for the registrant and have:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 536.25 Td (\(a\) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 524.25 Td (supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 512.25 Td (others within those entities, particularly during the period in which this report is being prepared;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 488.25 Td (\(b\) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 476.25 Td (our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 464.25 Td (for external purposes in accordance with generally accepted accounting principles;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 440.25 Td (\(c\) Evaluated the ef) Tj ET Q q 0 0 0 rg BT 105.38 440.25 Td (fectiveness of the registrant) Tj ET Q q 0 0 0 rg BT 218.40 440.25 Td (s disclosure controls and procedures and presented in this report our conclusions about the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 428.25 Td (ef) Tj ET Q q 0 0 0 rg BT 34.59 428.25 Td (fectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 404.25 Td (\(d\) Disclosed in this report any change in the registrant) Tj ET Q q 0 0 0 rg BT 249.99 404.25 Td (s internal control over financial reporting that occurred during the registrant) Tj ET Q q 0 0 0 rg BT 555.99 404.25 Td (s most ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 392.25 Td (recent fiscal quarter \(the registrant) Tj ET Q q 0 0 0 rg BT 167.48 392.25 Td (s fourth fiscal quarter in the case of an annual report\) that has materially af) Tj ET Q q 0 0 0 rg BT 466.07 392.25 Td (fected, or is reasonably likely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 380.25 Td (to materially af) Tj ET Q q 0 0 0 rg BT 87.90 380.25 Td (fect, the registrant) Tj ET Q q 0 0 0 rg BT 163.15 380.25 Td (s internal control over financial reporting; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 356.25 Td (5. ) Tj ET Q q 0 0 0 rg BT 36.82 356.25 Td (The registrant) Tj ET Q q 0 0 0 rg BT 95.41 356.25 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 174.37 356.25 Td (ficer and I have disclosed, based on our most recent evaluation of internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 344.25 Td (reporting, to the registrant) Tj ET Q q 0 0 0 rg BT 134.19 344.25 Td (s auditors and the audit committee of the registrant) Tj ET Q q 0 0 0 rg BT 340.25 344.25 Td (s board of directors \(or persons performing the equivalent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 332.25 Td (functions\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 308.25 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 40.05 308.25 Td (All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 296.25 Td (reasonably likely to adversely af) Tj ET Q q 0 0 0 rg BT 156.77 296.25 Td (fect the registrant) Tj ET Q q 0 0 0 rg BT 229.51 296.25 Td (s ability to record, process, summarize and report financial information; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 272.25 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 40.61 272.25 Td (Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant) Tj ET Q q 0 0 0 rg BT 547.95 272.25 Td (s internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 260.25 Td (control over financial reporting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 224.25 Td (Date: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.16 224.25 Td (January28, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.75 224.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 198.9169921875 m 104.2119140625 198.9169921875 l s q 0 0 0 rg BT 27.00 200.25 Td (/s/ David Bernstein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.21 200.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 188.25 Td (David Bernstein ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 176.25 Td (Chief Financial Of) Tj ET Q q 0 0 0 rg BT 101.80 176.25 Td (ficer and Chief ) Tj ET Q q 0 0 0 rg BT 163.72 176.25 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 223.25 176.25 Td (ficer) Tj ET Q endstream endobj 241 0 obj <> endobj 242 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.30 740.25 Td (Exhibit 32.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 716.25 Td (In connection with the ) Tj ET Q q 0 0 0 rg BT 118.65 716.25 Td (Annual Report on Form 10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.98 716.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.69 716.25 Td ( as filed by Carnival Corporation with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 704.25 Td (Securities and Exchange Commission on the date hereof \(the Report\), I certify pursuant to 18 U.S.C. Section1350, as adopted pursuant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 692.25 Td (to Section906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 178.64 692.25 Td (Act of 2002, that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 671.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 671.25 Td (The Report fully complies with the requirements of Section13\(a\) or 15\(d\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 453.22 671.25 Td (Act of 1934; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 650.25 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 650.25 Td (The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 638.25 Td (Carnival Corporation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 617.25 Td (Date: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.16 617.25 Td (January28, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.75 617.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 591.9169921875 m 112.0048828125 591.9169921875 l s q 0 0 0 rg BT 27.00 593.25 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 38.40 593.25 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 69.05 593.25 Td (W) Tj ET Q q 0 0 0 rg BT 77.57 593.25 Td (. Donald) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.00 593.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 581.25 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 57.65 581.25 Td (W) Tj ET Q q 0 0 0 rg BT 66.17 581.25 Td (. Donald ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 569.25 Td (President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 161.22 569.25 Td (ficer) Tj ET Q endstream endobj 243 0 obj <> endobj 244 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.30 740.25 Td (Exhibit 32.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 716.25 Td (In connection with the ) Tj ET Q q 0 0 0 rg BT 118.65 716.25 Td (Annual Report on Form 10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.98 716.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.69 716.25 Td ( as filed by Carnival Corporation with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 704.25 Td (Securities and Exchange Commission on the date hereof \(the Report\), I certify pursuant to 18 U.S.C. Section1350, as adopted pursuant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 692.25 Td (to Section906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 178.64 692.25 Td (Act of 2002, that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 671.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 671.25 Td (The Report fully complies with the requirements of Section13\(a\) or 15\(d\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 453.22 671.25 Td (Act of 1934; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 650.25 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 650.25 Td (The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 638.25 Td (Carnival Corporation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 617.25 Td (Date: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.16 617.25 Td (January28, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.75 617.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 591.9169921875 m 104.2119140625 591.9169921875 l s q 0 0 0 rg BT 27.00 593.25 Td (/s/ David Bernstein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.21 593.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 581.25 Td (David Bernstein ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 569.25 Td (Chief Financial Of) Tj ET Q q 0 0 0 rg BT 101.80 569.25 Td (ficer and Chief ) Tj ET Q q 0 0 0 rg BT 163.72 569.25 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 223.25 569.25 Td (ficer) Tj ET Q endstream endobj 245 0 obj <> endobj 246 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.30 740.25 Td (Exhibit 32.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 716.25 Td (In connection with the ) Tj ET Q q 0 0 0 rg BT 118.65 716.25 Td (Annual Report on Form 10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.98 716.25 Td (November30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.69 716.25 Td ( as filed by Carnival plc with the Securities and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 704.25 Td (Exchange Commission on the date hereof \(the Report\), I certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 692.25 Td (of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 118.36 692.25 Td (Act of 2002, that: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 671.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 43.48 671.25 Td (The Report fully complies with the requirements of Section 13\(a\) or 15\(d\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 451.70 671.25 Td (Act of 1934; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 650.25 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 43.48 650.25 Td (The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 638.25 Td (Carnival plc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 617.25 Td (Date: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.16 617.25 Td (January28, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.75 617.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 27 591.9169921875 m 112.0048828125 591.9169921875 l s q 0 0 0 rg BT 27.00 593.25 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 38.40 593.25 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 69.05 593.25 Td (W) Tj ET Q q 0 0 0 rg BT 77.57 593.25 Td (. Donald) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.00 593.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 581.25 Td (Arnold ) Tj ET Q q 0 0 0 rg BT 57.65 581.25 Td (W) Tj ET Q q 0 0 0 rg BT 66.17 581.25 Td (. 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