CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 388	$ 497
Trade and other receivables, net	371	405
Inventories	265	248
Prepaid expenses and other assets	670	617
Derivative financial instruments	11	25
Total current assets	1,705	1,792
Property and equipment, net	31,831	30,114
Operating lease right-of-use assets	677	611
Goodwill	808	809
Other assets	2,049	1,805
Total assets	37,070	35,131
Current liabilities
Current portion of long-term debt	1,603	1,720
Current portion of operating lease liabilities	74	65
Accounts payable	919	792
Accrued expenses and other liabilities	1,635	1,478
Derivative financial instruments	90	35
Customer deposits	5,496	5,311
Total current liabilities	9,817	9,401
Long-term debt	18,473	19,732
Long-term operating lease liabilities	670	613
Other long-term liabilities	375	486
Total liabilities	29,335	30,232
Commitments and Contingencies (Note 17)
Shareholders' equity
Preferred stock ($0.01 par value; 20,000,000 shares authorized; none outstanding)	0	0
Common stock ($0.01 par value; 500,000,000 shares authorized; 297,368,235 and 284,672,386 shares issued, December 31, 2024 and December 31, 2023, respectively)	3	3
Paid-in capital	7,831	7,474
Retained earnings (accumulated deficit)	2,612	(10)
Accumulated other comprehensive loss	(802)	(674)
Treasury stock (28,468,430 and 28,248,125 common shares at cost, December 31, 2024 and December 31, 2023, respectively)	(2,081)	(2,069)
Total shareholders’ equity attributable to Royal Caribbean Cruises Ltd.	7,563	4,724
Noncontrolling Interest	172	175
Total shareholders' equity	7,735	4,899
Total liabilities and shareholders’ equity	$ 37,070	$ 35,131

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).