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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
May 31, 2016
May 31, 2015
OPERATING ACTIVITIES    
Net Income $ 747 $ 271
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 861 807
Losses on fuel derivatives 65 181
Share-based compensation 28 25
Other, net 22 12
Adjustments to reconcile net income to net cash provided by operating activities 1,723 1,296
Changes in operating assets and liabilities    
Receivables (40) (85)
Inventories 16 11
Insurance recoverables, prepaid expenses and other 4 61
Accounts payable 36 39
Accrued and other liabilities (84) (5)
Customer deposits 1,026 969
Net cash provided by operating activities 2,681 2,286
INVESTING ACTIVITIES    
Additions to property and equipment (1,966) (1,381)
Proceeds from sales of ships 19 25
Payments of fuel derivative settlements (170) (95)
Collateral payments for fuel derivatives (25) (11)
Other, net (31) 35
Net cash used in investing activities (2,173) (1,427)
FINANCING ACTIVITIES    
Proceeds from (repayments of) short-term borrowings, net 379 (357)
Principal repayments of long-term debt (869) (584)
Proceeds from issuance of long-term debt 934 472
Dividends paid (459) (388)
Purchases of treasury stock (1,401) 0
Sales of treasury stock 40 0
Other, net (5) (4)
Net cash used in financing activities (1,381) (861)
Effect of exchange rate changes on cash and cash equivalents (3) (31)
Net decrease in cash and cash equivalents (876) (33)
Cash and cash equivalents at beginning of period 1,395 331
Cash and cash equivalents at end of period $ 519 $ 298