Exhibit 99.2
ROYAL CARIBBEAN CRUISES LTD. CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited, in thousands)
		Six Months Ended June 30,
		2008		2007
Operating Activities
Net income		$	160,356	$	137,570
Adjustments:
	Depreciation and amortization		251,667		237,676
Changes in operating assets and liabilities:
	Decrease (increase) in trade and other receivables, net		68,149		(25,930)
	Increase in inventories		(20,341)		(10,158)
	Increase in prepaid expenses and other assets		(47,747)		(112,080)
	Increase in accounts payable		26,604		7,559
	(Decrease) increase in accrued expenses and other liabilities		(15,143)		76,041
	Increase in customer deposits		354,894		513,490
	Other, net		(17,008)		(1,022)
Net cash provided by operating activities		$	761,431	$	823,146
Investing Activities
Purchases of property and equipment			(1,313,168)		(1,075,814)
Cash received on settlement of derivative financial instruments			253,872		45,056
Other, net			(28,515)		(10,108)
Net cash used in investing activities			(1,087,811)		(1,040,866)
Financing Activities
Debt proceeds			1,098,105		1,897,780
Debt issuance costs			(12,006)		(10,048)
Repayments of debt			(511,634)		(1,514,686)
Dividends Paid			(96,017)		(66,339)
Proceeds from exercise of common stock options			3,372		16,427
Other, net			495		2,593
Net cash provided by financing activities			482,315		325,727
Effect of exchange rate changes on cash			439		(162)
Net increase in cash and cash equivalents			156,374		107,845
Cash and cash equivalents at beginning of period			230,784		104,520
Cash and cash equivalents at end of period		$	387,158	$	212,365
Supplemental Disclosure
Cash paid during the period for:
	Interest, net of amount capitalized	$	172,448	$	137,499