Forecasting for the Love Boat: Royal Caribbean Cruises in 1998(

ROYAL CARIBBEAN CRUISES LTD.CONSOLIDATED BALANCE SHEETS(IN THOUSANDS EXCEPT SHARE AMOUNTS)1998 1997---------- ----------ASSETSCurrent AssetsCash and cash equivalents................................. $ 172,921 $ 110,793Trade and other receivables, net.......................... 36,532 22,628Inventories............................................... 31,834 37,274Prepaid expenses.......................................... 45,044 40,450---------- ----------Total current assets.............................. 286,331 211,145Property and Equipment -- at cost less accumulateddepreciation and amortization............................. 5,073,008 4,785,291Goodwill -- less accumulated amortization of $107,365 and$96,952, respectively..................................... 309,801 320,214Other Assets................................................ 16,936 23,098---------- ----------$5,686,076 $5,339,748========== ==========LIABILITIES AND SHAREHOLDERS' EQUITYCurrent LiabilitiesCurrent portion of long-term debt......................... $ 127,919 $ 141,013Accounts payable.......................................... 115,833 108,474Accrued liabilities....................................... 243,477 210,454Customer deposits......................................... 402,926 429,403---------- ----------Total current liabilities......................... 890,155 889,344Long-Term Debt.............................................. 2,341,163 2,431,683Commitments and Contingencies (Note 13)Shareholders' EquityPreferred stock ($.01 par value; 20,000,000 sharesauthorized; cumulative convertible preferred sharesissued and outstanding, 3,450,000 shares stated atliquidation value)..................................... 172,500 172,500Common stock ($.01 par value; 500,000,000 sharesauthorized 168,945,222 and 162,128,974 sharesissued)................................................ 1,690 1,621Paid-in capital........................................... 1,361,796 1,188,304Retained earnings......................................... 923,691 660,655Treasury stock (354,492 and 314,148 common shares atcost).................................................. (4,919) (4,359)---------- ----------Total shareholders' equity........................ 2,454,758 2,018,721---------- ----------$5,686,076 $5,339,748========== ==========The accompanying notes are an integral part of these financial statements.