Earnings Per Share

6 Months Ended

May 31, 2021

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share 

	Three Months Ended May 31,				Six Months Ended May 31,
(in millions, except per share data)	2021		2020		2021		2020
Net income (loss) for basic and diluted earnings per share	$	(2,072)	$	(4,374)	$	(4,045)	$	(5,155)
Weighted-average shares outstanding	1,132		721		1,113		702
Dilutive effect of equity plans	—		—		—		—
Diluted weighted-average shares outstanding	1,132		721		1,113		702
Basic earnings per share	$	(1.83)	$	(6.07)	$	(3.63)	$	(7.34)
Diluted earnings per share	$	(1.83)	$	(6.07)	$	(3.63)	$	(7.34)

Antidilutive shares excluded from diluted earnings per share computations were as follows:

	Three Months Ended May 31,		Six Months Ended May 31,
(in millions)	2021	2020	2021	2020
Equity awards	3	—	3	1
Convertible Notes	54	120	54	60
Total antidilutive securities	57	120	57	61

Equity Offering

In February 2021, we completed a public offering of 40.5 million shares of Carnival Corporation’s common stock at a price per share of $25.10, resulting in net proceeds of $996 million.