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Compensation Plans and Post-Employment Benefits (Tables)
 12 Months Ended
Nov. 30, 2021
Retirement Benefits [Abstract]  
Share Based Compensation Awards Activity
 SharesWeighted-Average
Grant Date Fair
Value
Outstanding at November 30, 20182,280,517 $61.57 
Granted1,357,177 $52.17 
Vested(960,693)$53.49 
Forfeited(185,625)$56.13 
Outstanding at November 30, 20192,491,376 $59.97 
Granted9,971,331 $20.72 
Vested(1,641,570)$30.68 
Forfeited(480,361)$50.96 
Outstanding at November 30, 202010,340,776 $26.61 
Granted4,453,572 $20.65 
Vested(6,618,083)$21.31 
Forfeited(729,073)$35.81 
Outstanding at November 30, 20217,447,192 $26.85 
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
UK Plan (a)All Other Plans
(in millions)2021202020212020
Change in projected benefit obligation:
Projected benefit obligation as of December 1$303 $299 $280 $259 
   Past service cost— — 10 20 
   Interest cost4 5 4 6 
   Benefits paid(10)(16)(5)(14)
   Actuarial (gain) loss on plans’ liabilities(7)14 (8)13 
   Plan curtailments, settlements and other7 — (19)(4)
Projected benefit obligation as of November 30298 303 263 280 
Change in plan assets:
Fair value of plan assets as of December 1325 312 17 18 
Return on plans’ assets31 23 — 1 
Employer contributions1 6 17 14 
Benefits paid(10)(16)(5)(14)
Plan settlements— — (17)(2)
Administrative expenses8 (1)— — 
Fair value of plan assets as of November 30355 325 12 17 
Funded status as of November 30$56 $22 $(250)$(263)

(a) The P&O Princess Cruises (UK) Pension Scheme (“UK Plan”)
Schedule of Defined Benefit Plan Amounts Recognized in Balance Sheets
The amounts recognized in the Consolidated Balance Sheets for these plans were as follows:
UK PlanAll Other Plans
November 30,November 30,
(in millions)2021202020212020
Other assets$56 $22 $— $— 
Accrued liabilities and other$— $— $23 $32 
Other long-term liabilities$— $— $227 $231 
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
Amounts for pension plans with accumulated benefit obligations in excess of fair value of plan assets are as follows:
November 30,
(in millions)20212020
Projected benefit obligation$263 $280 
Accumulated benefit obligation$254 $272 
Fair value of plan assets$12 $17 
Schedule of Net Benefit Costs The net benefit cost recognized in the Consolidated Statements of Income (Loss) were as follows:
UK PlanAll Other Plans
November 30,November 30,
(in millions)202120202019202120202019
Service cost$— $— $— $10 $20 $17 
Interest cost4 5 7 4 6 8 
Expected return on plan assets(6)(8)(11)— (1)(1)
Amortization of net loss (gain)— — — 4 4 3 
Settlement loss recognized— — — 5 1 — 
Net periodic benefit cost$(1)$(3)$(3)$22 $32 $28 

The components of net periodic benefit cost other than the service cost component are included in other income (expense), net in the Consolidated Statements of Income (Loss).

Weighted average assumptions used to determine the projected benefit obligation are as follows:
UK PlanAll Other Plans
2021202020212020
Discount rate1.6 %1.6 %2.6 %2.2 %
Rate of compensation increase2.7 %2.3 %3.0 %2.8 %

Weighted average assumptions used to determine net pension income are as follows:
UK PlanAll Other Plans
202120202019202120202019
Discount rate1.6 %1.9 %3.0 %2.3 %2.9 %3.5 %
Expected return on assets1.9 %3.0 %4.2 %2.3 %3.0 %3.0 %
Rate of compensation increase2.3 %2.9 %3.4 %3.0 %2.7 %3.0 %
Schedule of Defined Benefit Plan AOCI
Amounts recognized in AOCI are as follows:
UK PlanAll Other Plans
November 30,November 30,
2021202020212020
Actuarial losses (gains) recognized in the current year$— $1 $(7)$13 
Amortization and settlements included in net periodic benefit cost$— $— $(12)$(8)
Schedule of Expected Future Benefit Payments Estimated future benefit payments to be made during each of the next five fiscal years and in the aggregate during the succeeding five fiscal years are as follows:
(in millions)UK PlanAll Other Plans
2022$7 $24 
20237 22 
20247 24 
20257 27 
20268 26 
2027-203141 146 
$77 $269 
Schedule of Fair Values of Plan Assets
The fair values of the plan assets of the UK Plan by investment class are as follows:

November 30,
20212020
Equities$62 $55 
U.K. government fixed interest bonds (gilts)283 270