Compensation Plans (Tables)

12 Months Ended

Nov. 30, 2011

Summary of Carnival Corporation and Carnival Plc Stock Option Activity

A combined summary of Carnival Corporation and Carnival plc stock option activity during the year ended November 30, 2011 was as follows:

	Shares			Weighted- Average Exercise  Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value (a)
						(in years)		(in millions)
Outstanding at November 30, 2010		12,719,848		$	43.91
Exercised		(1,640,145	)	$	32.04
Forfeited or expired		(650,752	)	$	44.93
Outstanding at November 30, 2011		10,428,951		$	45.65		2.0	$	6
Exercisable at November 30, 2011		10,379,088		$	45.66		2.0	$	6

(a) The aggregate intrinsic value represents the amount by which the fair value of underlying stock exceeds the option exercise price at November 30, 2011.

RSA, RSU and PBS Activity

During the year ended November 30, 2011, RSA/RSU and PBS activity was as follows:

	RSAs/RSUs					PBSs
	Shares			Weighted-Average Grant Date Fair Value		Shares			Weighted-Average Grant Date Fair Value
Outstanding at November 30, 2010		4,153,127		$	33.61		-		$	-
Granted		940,623		$	46.32		130,088		$	45.07
Vested		(1,260,378	)	$	42.42		(12,508	)	$	44.61
Forfeited		(207,406	)	$	36.03		(588	)	$	44.61
Outstanding at November 30, 2011		3,625,966		$	33.70		116,992		$	45.12