Three new ships were added during 2024: Carnival Jubilee, Sun Princess, and Queen Anne. These additions contribute to increased capacity and enhanced offerings for guests.

The company is advancing its destination strategy with Celebration Key scheduled to open in summer 2025 and enhancements to Half Moon Cay. These initiatives aim to provide unique experiences and drive demand.

During 2024, the company announced the sunsetting of the P&O Cruises (Australia) brand and the integration of its operations into Carnival Cruise Line in March 2025. This represents a strategic realignment of brands.

The company ended 2024 with adjusted return on invested capital (ROIC) comfortably above its cost of capital, indicating efficient capital allocation and value creation for shareholders.

New marketing campaigns were launched across all brands, focusing on each cruise line's unique target markets. This resulted in double-digit percentage increases in both new-to-cruise and repeat guests.

The company reduced its greenhouse gas emission intensity by approximately 17.5% compared to 2019 and lowered its absolute greenhouse gas emissions by almost 10% since 2019, despite capacity growth.

The 10K highlights that events and conditions around the world, including geopolitical uncertainty, war, pandemics, inflation, and higher fuel prices, could lead to a decline in demand for cruises and have significant negative impacts on financial condition and operations.

The 10K outlines that factors associated with climate change, including evolving and increasing regulations and increasing global concern about climate change, could have a material impact on the business.

The 10K states that cybersecurity incidents and data privacy breaches, as well as disruptions to principal offices and information technology operations, have adversely impacted and may in the future materially adversely impact business operations.

The company competes with land-based vacation alternatives throughout the world, such as hotels, resorts, theme parks, organized tours, casinos, and vacation ownership properties.

Increases in capacity in the cruise and land-based vacation industry may result in capacity growth beyond demand, either globally or for a region, or for a particular itinerary, negatively impacting cruise sales and pricing.

The company focuses on creating further brand differentiation and clarity around its unique value proposition, executing on a range of carefully targeted, results-driven marketing and advertising programs to reach its optimal market segment of new and loyal guests and travel agent partners.

Lower fuel consumption per ALBD partially offset the impact of higher fuel prices. The company continues to implement measures to improve fuel efficiency.

Implementation of Service Power Packages (or Power Saver Packs), a comprehensive set of technology upgrades, is expected to deliver approximately 5% fuel savings per ship.

Air Lubrication Systems (ALS) cushions the flat bottom of a ship's hull with air bubbles, which reduces the ship's frictional resistance and the propulsive power required to drive the ship through the water and generate approximately 5% savings in fuel consumption.

The company has ten LNG-powered cruise ships in operation, which represent nearly 20% of fleet capacity. LNG emits virtually zero sulfur oxides, reduces nitrogen oxides by 85%, and cuts particulate matter by 95%-100%.

The company pioneered the use of Advanced Air Quality Systems on board its ships to aid in the reduction of sulfur and are promoting the use of shore power.

The company facilitates trainings to ensure that teams are well-prepared to carry out their individual and collective responsibilities. The Arison Maritime Center features advanced simulator technology and equipment.

During 2024, the company made debt prepayments of over $3 billion, bringing total prepayments to over $7 billion since the beginning of 2023.

As of November 30, 2024, the company's new ship growth capital commitments were $0.9 billion, $0.4 billion, $1.3 billion, $1.3 billion, $1.5 billion and $3.2 billion for the years ending November 30, 2025, 2026, 2027, 2028, 2029 and thereafter.

Capital expenditures of $4.6 billion primarily attributable to the delivery of two NAA segment ships, one Europe segment ship and developments in our port destinations and exclusive islands.

The company reduced its greenhouse gas emission intensity by approximately 17.5 percent compared to 2019, on track to achieve its targeted reduction of 20 percent by the end of 2026.

The company lowered its absolute greenhouse gas emissions by almost 10 percent since 2019, despite capacity growth of over nine percent over the same period.

The company is pursuing its aspiration of net zero emissions by 2050, aligned with the revised IMO Strategy. Achieving this goal will require energy sources and technologies that do not yet exist at scale.

Record booking trends and record year-end customer deposits indicate a continuation of the strong momentum the company has been experiencing for the last two years.

The company has been, and may continue to be, impacted by the public's concerns regarding the health, safety and security of travel, including pandemics, government travel advisories and travel restrictions, political instability and civil unrest, terrorist attacks, war and military action and other general concerns.

The company is subject to numerous international, national, state and local laws, regulations, treaties and other legal requirements that govern health, environmental, safety and security matters in relation to its guests, crew and ships.