Shareholder's Equity (Notes)

3 Months Ended

Feb. 29, 2016

Shareholder's Equity [Abstract]

Shareholders' Equity

Shareholders' Equity

During the three months ended February 29, 2016, we repurchased 18.4 million shares of Carnival Corporation common stock for $877 million under our general repurchase authorization program (“Repurchase Program”). From March 1, 2016 through March 25, 2016, we repurchased 2.6 million shares of Carnival Corporation common stock for $124 million under the Repurchase Program. At March 25, 2016, the remaining availability under the Repurchase Program was $698 million.

During the three months ended February 29, 2016, Carnival Investments Limited ("CIL"), a subsidiary of Carnival Corporation, sold 891 thousand of Carnival plc ordinary shares for net proceeds of $40 million. Substantially all of the net proceeds from these sales were used to purchase 891 thousand 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.