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, 2016 through December 31, 2020 and as of the end of each such year, except for Adjusted Net (Loss) 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, | |||||||||||||||||||||||||||||
| 2020 | 2019 | 2018 (1) | 2017 | 2016 | |||||||||||||||||||||||||
| (in thousands, except per share data) | |||||||||||||||||||||||||||||
| Operating Data: (2) | |||||||||||||||||||||||||||||
| Total revenues | $ | 2,208,805 | $ | 10,950,661 | $ | 9,493,849 | $ | 8,777,845 | $ | 8,496,401 | |||||||||||||||||||
| Operating (Loss) Income | $ | (4,601,557) | $ | 2,082,701 | $ | 1,894,801 | $ | 1,744,056 | $ | 1,477,205 | |||||||||||||||||||
| Net (Loss) Income (3) | $ | (5,775,130) | $ | 1,907,600 | $ | 1,815,792 | $ | 1,625,133 | $ | 1,283,388 | |||||||||||||||||||
| Net (Loss) Income attributable to Royal Caribbean Cruises Ltd. | $ | (5,797,462) | $ | 1,878,887 | $ | 1,811,042 | $ | 1,625,133 | $ | 1,283,388 | |||||||||||||||||||
| Adjusted Net (Loss) Income attributable to Royal Caribbean Ltd. (4) | $ | (3,924,579) | $ | 2,002,847 | $ | 1,873,363 | $ | 1,625,133 | $ | 1,314,689 | |||||||||||||||||||
| Per Share Data—Basic: (2) | |||||||||||||||||||||||||||||
| Net (Loss) Income attributable to Royal Caribbean Cruises Ltd. | $ | (27.05) | $ | 8.97 | $ | 8.60 | $ | 7.57 | $ | 5.96 | |||||||||||||||||||
| Adjusted Net (Loss) Income attributable to Royal Caribbean Cruises Ltd. | $ | (18.31) | $ | 9.56 | $ | 8.90 | $ | 7.57 | $ | 6.10 | |||||||||||||||||||
| Weighted-average shares | 214,335 | 209,405 | 210,570 | 214,617 | 215,393 | ||||||||||||||||||||||||
| Per Share Data—Diluted: (2) | |||||||||||||||||||||||||||||
| Net (Loss) Income attributable to Royal Caribbean Cruises Ltd. | $ | (27.05) | $ | 8.95 | $ | 8.56 | $ | 7.53 | $ | 5.93 | |||||||||||||||||||
| Adjusted Net (loss) Income attributable to Royal Caribbean Cruises Ltd. | $ | (18.31) | $ | 9.54 | $ | 8.86 | $ | 7.53 | $ | 6.08 | |||||||||||||||||||
| Weighted-average shares and potentially dilutive shares | 214,335 | 209,930 | 211,554 | 215,694 | 216,316 | ||||||||||||||||||||||||
| Dividends declared per common share | $ | 0.78 | $ | 2.96 | $ | 2.16 | $ | 1.71 | $ | 1.35 | |||||||||||||||||||
| Balance Sheet Data: | |||||||||||||||||||||||||||||
| Total assets (5) (6) | $ | 32,465,187 | $ | 30,320,284 | $ | 27,698,270 | $ | 22,360,926 | $ | 22,310,324 | |||||||||||||||||||
| Total debt, including commercial paper and capital leases | $ | 19,329,043 | $ | 11,034,876 | $ | 10,777,699 | $ | 7,539,451 | $ | 9,387,436 | |||||||||||||||||||
| Common stock | $ | 2,652 | $ | 2,365 | $ | 2,358 | $ | 2,352 | $ | 2,346 | |||||||||||||||||||
| Total shareholders' equity | $ | 8,760,669 | $ | 12,163,846 | $ | 11,105,461 | $ | 10,702,303 | $ | 9,121,412 |
(1)On July 31, 2018, we acquired a 66.7% equity stake in Silversea Cruise Holding Ltd ("Silversea Cruises"). Refer to Note 1*. General*, Note 3. Business Combinations and Note 11*. Redeemable Noncontrolling Interest* to our consolidated financial statements under Item 8. Financial Statements and Supplementary Data for information on the Silversea Cruises acquisition.
(2)Operating Data and Per Share Data amounts in 2020 reflect the impact of our 2020 suspension of operations due to the COVID-19 pandemic, including impairment charges and credit losses of $1.6 billion incurred related to the impairment of goodwill and trademarks and trade names attributable to our Silversea Cruises reporting unit, and long-lived assets as well as credit losses mostly on receivables related to our sale of property and equipment.
(3)Amount for 2017 includes a gain of $30.9 million related to the sale of Legend of the Seas.
(4)For 2020, 2019 and 2018, 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.
(5)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.
(6)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,* to our consolidated financial statements under Item 8. Financial Statements and Supplementary Data for further information.
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