Property and Equipment

12 Months Ended

Nov. 30, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

	November 30,
(in millions)	2023		2022
Ships and ship improvements	$	55,026	$	52,908
Ships under construction	1,284		785
Other property and equipment	4,213		3,970
Total property and equipment	60,523		57,663
Less accumulated depreciation	(20,407)		(18,976)
	$	40,116	$	38,687

Capitalized interest amounted to $64 million in 2023, $48 million in 2022 and $83 million in 2021.

Sales of Ships

During 2023, we completed the sale of three Europe segment ships and one NAA segment ship, which represents a passenger-capacity reduction of 5,240 berths for our Europe segment and 460 berths for our NAA segment. We will continue to operate the NAA segment ship under a bareboat charter agreement through September 2024.

Refer to Note 10 - “Fair Value Measurements, Derivative Instruments and Hedging Activities and Financial Risks, Nonfinancial Instruments that are Measured at Fair Value on a Nonrecurring Basis, Impairment of Ships” for additional discussion.