General (Tables)

9 Months Ended

Aug. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Prior Period Adjustments

The effects of this revision on our Consolidated Statements of Income were as follows (in millions, except per share data):

	Three Months Ended August 31, 2014							Nine Months Ended August 31, 2014
	As Previously Reported		Adjustment			As Revised		As Previously  Reported		Adjustment			As Revised
Other ship operating	$	599	$	6		$	605	$	1,825	$	17		$	1,842
Depreciation and amortization	$	414	$	—		$	414	$	1,227	$	2		$	1,229
Operating income	$	1,298	$	(6	)	$	1,292	$	1,525	$	(19	)	$	1,506
Income before income taxes	$	1,247	$	(6	)	$	1,241	$	1,340	$	(19	)	$	1,321
Net income	$	1,247	$	(6	)	$	1,241	$	1,338	$	(19	)	$	1,319
Earnings per share
Basic	$	1.61	$	(0.01	)	$	1.60	$	1.72	$	(0.02	)	$	1.70
Diluted	$	1.60	$	—		$	1.60	$	1.72	$	(0.02	)	$	1.70

The effects of this revision on our Consolidated Statements of Comprehensive Income were as follows (in millions):

	Three Months Ended August 31, 2014							Nine Months Ended August 31, 2014
	As Previously Reported		Adjustment			As Revised		As Previously Reported		Adjustment			As Revised
Net income	$	1,247	$	(6	)	$	1,241	$	1,338	$	(19	)	$	1,319
Total comprehensive income	$	976	$	(6	)	$	970	$	1,149	$	(19	)	$	1,130

The effects of this revision on our Consolidated Balance Sheet were as follows (in millions):

	November 30, 2014
	As Previously Reported		Adjustment				As Revised
Inventories	$	364	$	(15	)		$	349
Total current assets	$	1,503	$	(15	)		$	1,488
Property and equipment, net	$	32,773	$	46			$	32,819
Other assets	$	859	$	(115	)		$	744
Total assets	$	39,532	$	(84	)		$	39,448
Retained earnings	$	19,242	$	(84	)	(a)	$	19,158
Total shareholders' equity	$	24,288	$	(84	)		$	24,204
Total liabilities and shareholders' equity	$	39,532	$	(84	)		$	39,448

(a) As of November 30, 2014, the cumulative impact of this revision was an $84 million reduction in retained earnings. The diluted earnings per share decreases were $0.03 for each of 2014 and 2013, $0.02 for 2012, $0.03 for pre-2010 and $0.11 in the aggregate. There was no annual diluted earnings per share impact for 2011 and 2010.

This non-cash revision did not impact our operating cash flows for any period. The effects of this revision on the individual line items within operating cash flows on our Consolidated Statement of Cash Flows were as follows (in millions):

	Nine Months Ended August 31, 2014
	As Previously Reported			Adjustment			As Revised
Net income	$	1,338		$	(19	)	$	1,319
Depreciation and amortization	$	1,227		$	2		$	1,229
Inventories	$	15		$	—		$	15
Insurance recoverables, prepaid expenses and other	$	402		$	19		$	421
Claims reserves and accrued and other liabilities	$	(379	)	$	(2	)	$	(381	)