filings.toolsItem 6. Selected Financial Data
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Item 6. Selected Financial Data
The selected consolidated financial data presented below for the years ended December 31, 2015 through December 31, 2019 and as of the end of each such year, except for Adjusted Net Income amounts, are derived from our audited consolidated financial statements and should be read in conjunction with those financial statements and the related notes as well as in conjunction with Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.
| Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2019 | 2018 (1) | 2017 | 2016 | 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||
| (in thousands, except per share data) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Data: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total revenues | $ | 10,950,661 | $ | 9,493,849 | $ | 8,777,845 | $ | 8,496,401 | $ | 8,299,074 | |||||||||||||||||||||||||||||||||||||||||||
| Operating Income | $ | 2,082,701 | $ | 1,894,801 | $ | 1,744,056 | $ | 1,477,205 | $ | 874,902 | |||||||||||||||||||||||||||||||||||||||||||
| Net Income (2) | $ | 1,907,600 | $ | 1,815,792 | $ | 1,625,133 | $ | 1,283,388 | $ | 665,783 | |||||||||||||||||||||||||||||||||||||||||||
| Net Income attributable to Royal Caribbean Cruises Ltd. | $ | 1,878,887 | $ | 1,811,042 | $ | 1,625,133 | $ | 1,283,388 | $ | 665,783 | |||||||||||||||||||||||||||||||||||||||||||
| Adjusted Net Income attributable to Royal Caribbean Ltd.(3) (4) (5) | $ | 2,002,847 | $ | 1,873,363 | $ | 1,625,133 | $ | 1,314,689 | $ | 1,065,066 | |||||||||||||||||||||||||||||||||||||||||||
| Per Share Data—Basic: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Income attributable to Royal Caribbean Cruises Ltd. | $ | 8.97 | $ | 8.60 | $ | 7.57 | $ | 5.96 | $ | 3.03 | |||||||||||||||||||||||||||||||||||||||||||
| Adjusted Net Income attributable to Royal Caribbean Cruises Ltd. | $ | 9.56 | $ | 8.90 | $ | 7.57 | $ | 6.10 | $ | 4.85 | |||||||||||||||||||||||||||||||||||||||||||
| Weighted-average shares | 209,405 | 210,570 | 214,617 | 215,393 | 219,537 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Per Share Data—Diluted: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Income attributable to Royal Caribbean Cruises Ltd. | $ | 8.95 | $ | 8.56 | $ | 7.53 | $ | 5.93 | $ | 3.02 | |||||||||||||||||||||||||||||||||||||||||||
| Adjusted Net Income attributable to Royal Caribbean Cruises Ltd. | $ | 9.54 | $ | 8.86 | $ | 7.53 | $ | 6.08 | $ | 4.83 | |||||||||||||||||||||||||||||||||||||||||||
| Weighted-average shares and potentially dilutive shares | 209,930 | 211,554 | 215,694 | 216,316 | 220,689 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Dividends declared per common share | $ | 2.96 | $ | 2.60 | $ | 2.16 | $ | 1.71 | $ | 1.35 | |||||||||||||||||||||||||||||||||||||||||||
| Balance Sheet Data: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets (6) (7) | $ | 30,320,284 | $ | 27,698,270 | $ | 22,360,926 | $ | 22,310,324 | $ | 20,782,043 | |||||||||||||||||||||||||||||||||||||||||||
| Total debt, including commercial paper and capital leases | $ | 11,034,876 | $ | 10,777,699 | $ | 7,539,451 | $ | 9,387,436 | $ | 8,527,243 | |||||||||||||||||||||||||||||||||||||||||||
| Common stock | $ | 2,365 | $ | 2,358 | $ | 2,352 | $ | 2,346 | $ | 2,339 | |||||||||||||||||||||||||||||||||||||||||||
| Total shareholders' equity | $ | 12,163,846 | $ | 11,105,461 | $ | 10,702,303 | $ | 9,121,412 | $ | 8,063,039 |
(1)On July 31, 2018, we acquired a 66.7% equity stake in Silversea Cruise Holding Ltd ("Silversea Cruises"). Refer to Note 3. Business Combination to our consolidated financial statements under Item 8. Financial Statements and Supplementary Data for information on the Silversea Cruises acquisition.
(2)Amount for 2017 includes a gain of $30.9 million related to the sale of Legend of the Seas.
(3)For 2019, 2018 and 2017, refer to Financial Presentation and Results of Operations under Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations for the definition of Adjusted Net Income and a reconciliation of Adjusted Net Income to Net income.
(4)Amount for 2016 excludes the net loss related to the elimination of the Pullmantur reporting lag of $21.7 million, the net gain related to the sale of the Pullmantur and CDF Croisieres de France brands of $3.8 million, restructuring charges of $8.5 million and other initiative costs of $5.0 million.
(5)Amount for 2015 excludes the impairment of Pullmantur related assets of $399.3 million.
(6)We reclassified prepaid commissions of $64.6 million from Customer deposits to Prepaid expenses and other assets in our consolidated balance sheet as of December 31, 2017 in order to conform to the current year presentation.
(7)Upon adoption of the new Lease accounting guidance effective January 1, 2019, we recognized right-of-use assets relating to operating leases within Operating lease right-of-use assets in our consolidated balance sheet. As of December 31, 2019, we reported Operating lease right-of-use assets of $687.6 million in our consolidated balance sheet. The comparative information presented has not been recast and continues to be reported under the accounting standards in effect for those periods. For further information on leases, refer to Note 10. Leases.
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