Shareholder's Equity (Notes)

9 Months Ended

Aug. 31, 2015

Shareholder's Equity [Abstract]

Shareholders' Equity

Shareholders' Equity

During the nine months ended August 31, 2015, we repurchased 78 thousand shares of Carnival Corporation common stock for $4 million under our general repurchase authorization program (“Repurchase Program”). From September 1, 2015 through October 1, 2015, there were an additional 20 thousand shares of Carnival Corporation common stock repurchased for $1 million under the Repurchase Program. At October 1, 2015, the remaining availability under the Repurchase Program was $970 million.

During the nine months ended August 31, 2015, Carnival Investments Limited ("CIL"), a subsidiary of Carnival Corporation, sold 3.2 million of Carnival plc ordinary shares for net proceeds of $167 million. Substantially all of the net proceeds from these sales were used to purchase 3.2 million shares of Carnival Corporation common stock. Pursuant to our Stock Swap (“Stock Swap”) program, Carnival Corporation sold these Carnival plc ordinary shares owned by CIL only to the extent it was able to repurchase shares of Carnival Corporation common stock in the U.S. on at least an equivalent basis.

During the three months ended August 31, 2015, our Boards of Directors declared a 20 percent dividend increase to holders of Carnival Corporation common stock and Carnival plc ordinary shares from $0.25 per share to $0.30 per share, or $40 million, which was paid in September 2015.