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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	May 31, 2018	Jun. 18, 2018
Document Type	10-Q
Amendment Flag	false
Document Period End Date	May 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--11-30
Entity Filer Category	Large Accelerated Filer
Entity Registrant Name	CARNIVAL CORP
Entity Central Index Key	0000815097
Entity Common Stock, Shares Outstanding		530,611,416
CARNIVAL PLC
Entity Registrant Name	CARNIVAL PLC
Entity Central Index Key	0001125259
Entity Common Stock, Shares Outstanding		206,184,708

Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2018	May 31, 2017
Cruise
Passenger ticket	$ 3,193	$ 2,872	$ 6,341	$ 5,676
Onboard and other	1,122	1,036	2,192	2,014
Tour and other	42	37	55	46
Revenues	4,357	3,945	8,589	7,736
Cruise
Commissions, transportation and other	577	513	1,240	1,082
Onboard and other	138	129	278	253
Payroll and related	543	513	1,101	1,032
Fuel	373	310	731	607
Food	265	253	530	504
Other ship operating	749	685	1,460	1,346
Tour and other	36	33	50	46
Operating expenses	2,681	2,436	5,390	4,870
Selling and administrative	605	553	1,221	1,102
Depreciation and amortization	512	456	1,000	896
Operating costs and expenses	3,798	3,445	7,611	6,868
Operating Income	559	500	978	868
Nonoperating Income (Expense)
Interest income	3	2	6	4
Interest expense, net of capitalized interest	(49)	(50)	(98)	(101)
Gains (losses) on fuel derivatives, net	41	(53)	57	(27)
Other income (expense), net	10	(15)	11	(7)
Nonoperating Income (Expense), Total	5	(116)	(24)	(131)
Income Before Income Taxes	564	384	955	737
Income Tax Expense, Net	(3)	(5)	(3)	(7)
Net Income	$ 561	$ 379	$ 951	$ 730
Earnings Per Share
Earnings per share, basic (in dollars per share)	$ 0.79	$ 0.52	$ 1.33	$ 1.01
Earnings per share, diluted (in dollars per share)	0.78	0.52	1.33	1.00
Dividends declared per share (in dollars per share)	$ 0.5	$ 0.4	$ 0.95	$ 0.75

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2018	May 31, 2017
Statement of Comprehensive Income [Abstract]
Net Income	$ 561	$ 379	$ 951	$ 730
Items Included in Other Comprehensive (Loss) Income
Change in foreign currency translation adjustment	(357)	257	(56)	257
Other	(11)	29	(17)	43
Other Comprehensive (Loss) Income	(368)	286	(73)	300
Total Comprehensive Income	$ 193	$ 665	$ 878	$ 1,030

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	May 31, 2018	Nov. 30, 2017
Current Assets
Cash and cash equivalents	$ 1,053	$ 395
Trade and other receivables, net	342	312
Inventories	402	387
Prepaid expenses and other	481	502
Total current assets	2,278	1,596
Property and Equipment, Net	35,227	34,430
Goodwill	2,950	2,967
Other Intangibles	1,183	1,200
Other Assets	546	585
Total assets	42,184	40,778
Current Liabilities
Short-term borrowings	837	485
Current portion of long-term debt	848	1,717
Accounts payable	745	762
Accrued liabilities and other	1,571	1,877
Customer deposits	5,308	3,958
Total current liabilities	9,308	8,800
Long-Term Debt	8,172	6,993
Other Long-Term Liabilities	771	769
Contingencies
Shareholders’ Equity
Additional paid-in capital	8,721	8,690
Retained earnings	23,564	23,292
Accumulated other comprehensive loss	(1,855)	(1,782)
Treasury stock, 125 shares at 2018 and 122 shares at 2017 of Carnival Corporation and 37 shares at 2018 and 32 shares at 2017 of Carnival plc, at cost	(6,862)	(6,349)
Total shareholders’ equity	23,933	24,216
Liabilities and Equity, Total	42,184	40,778
Common Stock
Shareholders’ Equity
Common stock	7	7
Ordinary Shares
Shareholders’ Equity
Common stock	$ 358	$ 358

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	May 31, 2018	Nov. 30, 2017
Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,960	1,960
Common stock, shares issued (in shares)	656	655
Treasury stock, shares (in shares)	125	122
CARNIVAL PLC \| Ordinary Shares
Common stock, par value (in dollars per share)	$ 1.66	$ 1.66
Common stock, shares issued (in shares)	217	217
Treasury stock, shares (in shares)	37	32

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	May 31, 2018	May 31, 2017
OPERATING ACTIVITIES
Net income	$ 951	$ 730
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	1,000	896
(Gains) losses on fuel derivatives, net	(57)	27
Share-based compensation	32	34
Other, net	4	36
Adjustments to reconcile net income to net cash provided by operating activities	1,930	1,723
Changes in operating assets and liabilities
Receivables	(35)	(8)
Inventories	(16)	(19)
Prepaid expenses and other	59	(28)
Accounts payable	(14)	(38)
Accrued liabilities and other	(249)	(20)
Customer deposits	1,413	1,239
Net cash provided by operating activities	3,087	2,849
INVESTING ACTIVITIES
Purchases of property and equipment	(2,201)	(1,859)
Proceeds from sales of ships	102	0
Payments of fuel derivative settlements	(34)	(99)
Other, net	41	24
Net cash used in investing activities	(2,092)	(1,934)
FINANCING ACTIVITIES
Proceeds from short-term borrowings, net	398	182
Principal repayments of long-term debt	(1,181)	(907)
Proceeds from issuance of long-term debt	1,618	467
Dividends paid	(646)	(507)
Purchases of treasury stock	(513)	(152)
Other, net	(16)	(18)
Net cash used in financing activities	(339)	(935)
Effect of exchange rate changes on cash and cash equivalents	2	14
Net increase (decrease) in cash and cash equivalents	658	(6)
Cash and cash equivalents at beginning of period	395	$ 603
Cash and cash equivalents at end of period	$ 1,053

General	6 Months Ended
General	May 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General The consolidated financial statements include the accounts of Carnival Corporation and Carnival plc and their respective subsidiaries. Together with their consolidated subsidiaries, they are referred to collectively in these consolidated financial statements and elsewhere in this joint Quarterly Report on Form 10-Q as “Carnival Corporation & plc,” “our,” “us” and “we.” Basis of Presentation The Consolidated Statements of Income and the Consolidated Statements of Comprehensive Income for the six months ended May 31, 2018 and 2017, the Consolidated Balance Sheet at May 31, 2018 and the Consolidated Statements of Cash Flows for the six months ended May 31, 2018 and 2017 are unaudited and, in the opinion of our management, contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement. Our interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes included in the Carnival Corporation & plc 2017 joint Annual Report on Form 10-K (“Form 10-K”) filed with the U.S. Securities and Exchange Commission on January 29, 2018. Our operations are seasonal and results for interim periods are not necessarily indicative of the results for the entire year. Accounting Pronouncements The Financial Accounting Standards Board (the “FASB”) issued amended guidance, Compensation - Retirement Benefits - Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which requires the bifurcation of service costs and other components of net benefit cost. The presentation of the other components of net benefit cost have been recorded in other income. On December 1, 2017, we adopted this guidance using the retrospective transition method for the presentation of the service cost component and other components of net benefit cost. The impact of adopting this guidance was immaterial to our consolidated financial statements, and as such, prior period information was not revised. The FASB issued guidance, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. When effective, this standard will replace most existing revenue recognition guidance in U.S. generally accepted accounting principles (“U.S. GAAP”). The standard also requires more detailed disclosures and provides additional guidance for transactions that were not comprehensively addressed in U.S. GAAP. This guidance is required to be adopted by us in the first quarter of 2019 and can be applied using either a retrospective or a modified retrospective approach. Based on our assessment to date, the adoption of this guidance is not expected to have a material impact to the timing of our recognition of revenue and will require additional disclosures. We are currently evaluating if this guidance will have any other impact on our consolidated financial statements. The FASB issued amended guidance, Business Combinations - Clarifying the Definition of a Business, which assists entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This guidance is required to be adopted by us in the first quarter of 2019 on a prospective basis. Early adoption is permitted, including adoption in an interim period. The adoption of this guidance is not expected to have a material impact on our consolidated financial statements. The FASB issued amended guidance, Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments, which clarifies how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments are aimed at reducing the existing diversity in practice. This guidance is required to be adopted by us in the first quarter of 2019 and must be applied using a retrospective approach for each period presented. Early adoption is permitted, including adoption in an interim period. The adoption of this guidance is not expected to have a material impact on our consolidated financial statements. The FASB issued amended guidance, Statement of Cash Flows - Restricted Cash, which requires restricted cash to be presented with cash and cash equivalents in the statement of cash flows. This guidance is required to be adopted by us in the first quarter of 2019 and must be applied using a retrospective approach to each period presented. Early adoption is permitted, including adoption in an interim period. The adoption of this guidance is not expected to have a material impact on our consolidated financial statements. The FASB issued amended guidance, Service Concession Arrangements, which clarifies that the grantor in a service arrangement should be considered the customer of the operating entity in all cases. This guidance is required to be adopted by us in the first quarter of 2019 and can be applied using either a retrospective or a modified retrospective approach. The adoption of this guidance is not expected to have a material impact on our consolidated financial statements. The FASB issued guidance, Leases, which requires an entity to recognize both assets and liabilities arising from financing and operating leases, along with additional qualitative and quantitative disclosures. This guidance is required to be adopted by us in the first quarter of 2020 and must be applied using a modified retrospective approach. Early adoption is permitted. Based on our assessment to date, the initial adoption of this guidance is expected to increase both our total assets and total liabilities and will require additional disclosures. We are currently evaluating if this guidance will have any other impact on our consolidated financial statements. The FASB issued guidance, Derivatives and Hedging, which targeted improvements to accounting for hedging activities such as hedging strategies, effectiveness assessments, and recognition of derivative gains or losses. This guidance is required to be adopted by us in the first quarter of 2020 and must be applied using a modified retrospective approach. Early adoption is permitted. We are currently evaluating the impact this guidance will have on our consolidated financial statements. Other Cruise passenger ticket revenues include fees, taxes and charges collected by us from our guests. The portion of these fees, taxes and charges included in passenger ticket revenues and commissions, transportation and other costs were $143 million and $136 million and $291 million and $279 million for the three and six months ended May 31, 2018 and 2017, respectively.

Unsecured Debt	6 Months Ended
Unsecured Debt	May 31, 2018
Debt Disclosure [Abstract]
Unsecured Debt	Unsecured Debt At May 31, 2018, our short-term borrowings consisted of euro- denominated commercial paper of $606 million and a euro-denominated bank loan of $231 million due in 2019. For the six months ended May 31, 2018 and 2017, we had borrowings of $2 million and $111 million and repayments of $2 million and $364 million of commercial paper with original maturities greater than three months. In December 2017, we repaid a $500 million bond and borrowed $469 million under a sterling-denominated floating rate bank loan due in 2022. In January 2018, we repaid $365 million of euro-denominated floating rate bank loans prior to their 2018 and 2021 maturity dates. In March 2018, we borrowed $370 million under a euro-denominated floating rate bank loan due in 2020 and borrowed $555 million under an export credit facility due in semi-annual installments through 2030. In April 2018, we borrowed $224 million under an export credit facility due in semi-annual installments through 2030.

Contingencies	6 Months Ended
Contingencies	May 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Litigation In the normal course of our business, various claims and lawsuits have been filed or are pending against us. Most of these claims and lawsuits are covered by insurance and the maximum amount of our liability, net of any insurance recoverables, is typically limited to our self-insurance retention levels. We believe the ultimate outcome of these claims and lawsuits will not have a material impact on our consolidated financial statements. Contingent Obligations – Indemnifications Some of the debt contracts we enter into include indemnification provisions obligating us to make payments to the counterparty if certain events occur. These contingencies generally relate to changes in taxes or changes in laws which increase our lender’s costs. There are no stated or notional amounts included in the indemnification clauses, and we are not able to estimate the maximum potential amount of future payments, if any, under these indemnification clauses.

Fair Value Measurements, Derivative Instruments and Hedging Activities and Financial Risks

6 Months Ended

May 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements, Derivative Instruments and Hedging Activities and Financial Risks

Fair Value Measurements

Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and is measured using inputs in one of the following three categories:


•	Level 1 measurements are based on unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access. Valuation of these items does not entail a significant amount of judgment.


•	Level 2 measurements are based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active or market data other than quoted prices that are observable for the assets or liabilities.


•	Level 3 measurements are based on unobservable data that are supported by little or no market activity and are significant to the fair value of the assets or liabilities.

Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, certain estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange.

Financial Instruments that are not Measured at Fair Value on a Recurring Basis



	May 31, 2018								November 30, 2017
	Carrying Value		Fair Value						Carrying Value		Fair Value
(in millions)	Carrying Value		Level 1		Level 2		Level 3		Carrying Value		Level 1		Level 2		Level 3
Assets
Long-term other assets (a)	$	140	$	—	$	37	$	101	$	126	$	—	$	49	$	75
Total	$	140	$	—	$	37	$	101	$	126	$	—	$	49	$	75
Liabilities
Fixed rate debt (b)	$	5,296	$	—	$	5,473	$	—	$	5,588	$	—	$	5,892	$	—
Floating rate debt (b)	4,610		—		4,646		—		3,658		—		3,697		—
Total	$	9,906	$	—	$	10,119	$	—	$	9,246	$	—	$	9,589	$	—


(a)	Long-term other assets are comprised of notes receivable. The fair values of our Level 2 notes receivable were based on estimated future cash flows discounted at appropriate market interest rates. The fair values of our Level 3 notes receivable were estimated using risk-adjusted discount rates.

(b)

The debt amounts above do not include the impact of interest rate swaps or debt issuance costs. The fair values of our publicly-traded notes were based on their unadjusted quoted market prices in markets that are not sufficiently active to be Level 1 and, accordingly, are considered Level 2. The fair values of our other debt were estimated based on current market interest rates being applied to this debt.

Financial Instruments that are Measured at Fair Value on a Recurring Basis



	May 31, 2018						November 30, 2017
(in millions)	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets
Cash and cash equivalents	$	1,053	$	—	$	—	$	395	$	—	$	—
Restricted cash	15		—		—		26		—		—
Marketable securities held in rabbi trusts (a)	7		—		—		97		—		—
Derivative financial instruments	—		6		—		—		15		—
Total	$	1,075	$	6	$	—	$	518	$	15	$	—
Liabilities
Derivative financial instruments	$	—	$	59	$	—	$	—	$	161	$	—
Total	$	—	$	59	$	—	$	—	$	161	$	—


(a)	The use of marketable securities held in rabbi trusts is restricted to funding certain deferred compensation and non-qualified U.S. pension plans.

Nonfinancial Instruments that are Measured at Fair Value on a Nonrecurring Basis

Valuation of Goodwill and Trademarks



	Goodwill
(in millions)	NAA (a) Segment		EA (b) Segment			Total
At November 30, 2017	$	1,898	$	1,069		$	2,967
Foreign currency translation adjustment	—		(17		)	(17		)
At May 31, 2018	$	1,898	$	1,052		$	2,950

(a) North America & Australia (“NAA”)


(b)	Europe & Asia (“EA”)



	Trademarks
(in millions)	NAA Segment		EA Segment			Total
At November 30, 2017	$	927	$	252		$	1,179
Foreign currency translation adjustment	—		(3		)	(3		)
At May 31, 2018	$	927	$	248		$	1,176

The determination of our reporting unit goodwill and trademark fair values includes numerous assumptions that are subject to various risks and uncertainties. We believe that we have made reasonable estimates and judgments. A change in the conditions, circumstances or strategy, may result in a need to recognize an impairment charge.

Derivative Instruments and Hedging Activities



(in millions)	Balance Sheet Location	May 31, 2018		November 30, 2017
Derivative assets
Derivatives designated as hedging instruments
Net investment hedges (a)	Prepaid expenses and other	$	4	$	3
Foreign currency zero cost collars (b)	Prepaid expenses and other	2		12
Total derivative assets		$	6	$	15
Derivative liabilities
Derivatives designated as hedging instruments
Net investment hedges (a)	Accrued liabilities and other	$	10	$	13
	Other long-term liabilities	14		17
Interest rate swaps (c)	Accrued liabilities and other	9		10
	Other long-term liabilities	13		17
		46		57
Derivatives not designated as hedging instruments
Fuel (d)	Accrued liabilities and other	13		95
	Other long-term liabilities	—		9
		13		104
Total derivative liabilities		$	59	$	161


(a)	At May 31, 2018 and November 30, 2017, we had foreign currency swaps totaling $316 million and $324 million, respectively, that are designated as hedges of our net investments in foreign operations with a euro-denominated functional currency. At May 31, 2018, these foreign currency swaps settle through September 2019.


(b)	At May 31, 2018 and November 30, 2017, we had foreign currency derivatives consisting of foreign currency zero cost collars that are designated as foreign currency cash flow hedges for a portion of our euro-denominated shipbuilding payments. See “Newbuild Currency Risks” below for additional information regarding these derivatives.

(c)

We have euro interest rate swaps designated as cash flow hedges whereby we receive floating interest rate payments in exchange for making fixed interest rate payments. These interest rate swap agreements effectively changed $429 million at May 31, 2018 and $479 million at November 30, 2017 of EURIBOR-based floating rate euro debt to fixed rate euro debt. At May 31, 2018, these interest rate swaps settle through March 2025.


(d)	At May 31, 2018 and November 30, 2017, we had fuel derivatives consisting of zero cost collars on Brent crude oil (“Brent”) to cover a portion of our estimated fuel consumption through 2018. See “Fuel Price Risks” below for additional information regarding these derivatives.

Our derivative contracts include rights of offset with our counterparties. We have elected to net certain of our derivative assets and liabilities within counterparties.



	May 31, 2018
(in millions)	Gross Amounts		Gross Amounts Offset in the Balance Sheet		Total Net Amounts Presented in the Balance Sheet		Gross Amounts not Offset in the Balance Sheet			Net Amounts
Assets	$	6	$	—	$	6	$	(4	)	$	2
Liabilities	$	59	$	—	$	59	$	(4	)	$	54

	November 30, 2017
(in millions)	Gross Amounts		Gross Amounts Offset in the Balance Sheet		Total Net Amounts Presented in the Balance Sheet		Gross Amounts not Offset in the Balance Sheet			Net Amounts
Assets	$	15	$	—	$	15	$	(8	)	$	7
Liabilities	$	161	$	—	$	161	$	(8	)	$	153

The effective gain (loss) portions of our derivatives qualifying and designated as hedging instruments recognized in other comprehensive income were as follows:



	Three Months Ended May 31,						Six Months Ended May 31,
(in millions)	2018			2017			2018			2017
Net investment hedges	$	16		$	(17	)	$	10		$	(16	)
Foreign currency zero cost collars – cash flow hedges	$	(11	)	$	27		$	(10	)	$	35
Interest rate swaps – cash flow hedges	$	—		$	3		$	4		$	4

There are no credit risk related contingent features in our derivative agreements, except for bilateral credit provisions within our fuel derivative counterparty agreements. These provisions require cash collateral to be posted or received to the extent the fuel derivative fair value payable to or receivable from an individual counterparty exceeds $100 million. At May 31, 2018 and November 30, 2017, no collateral was required to be posted to or received from our fuel derivative counterparties.

The amount of estimated cash flow hedges’ unrealized gains and losses that are expected to be reclassified to earnings in the next twelve months is not significant.

Financial Risks

Fuel Price Risks

Substantially all of our exposure to market risk for changes in fuel prices relates to the consumption of fuel on our ships. We have Brent call options and Brent put options, collectively referred to as zero cost collars, that establish ceiling and floor prices and mitigate a portion of our economic risk attributable to potential fuel price increases. To maximize operational flexibility we utilized derivative markets with significant trading liquidity.

Our zero cost collars are based on Brent prices whereas the actual fuel used on our ships is marine fuel. Changes in the Brent prices may not show a high degree of correlation with changes in our underlying marine fuel prices. We will not realize any economic gain or loss upon the monthly maturities of our zero cost collars unless the average monthly price of Brent is above the ceiling price or below the floor price. We believe that these zero cost collars will act as economic hedges; however, hedge accounting is not applied.



	Three Months Ended May 31,						Six Months Ended May 31,
(in millions)	2018			2017			2018			2017
Unrealized gains (losses) on fuel derivatives, net	$	50		$	(2	)	$	82		$	69
Realized losses on fuel derivatives, net	(9		)	(51		)	(25		)	(96		)
Gains (losses) on fuel derivatives, net	$	41		$	(53	)	$	57		$	(27	)

At May 31, 2018, our outstanding fuel derivatives consisted of zero cost collars on Brent as follows:



Maturities (a)	Transaction Dates	Barrels (in thousands)	Weighted-Average Floor Prices		Weighted-Average Ceiling Prices
Fiscal 2018
	January 2014	1,350	$	75	$	110
	October 2014	1,500	$	80	$	114
		2,850


(a)	Fuel derivatives mature evenly over each month in 2018.

Foreign Currency Exchange Rate Risks

Overall Strategy

We manage our exposure to fluctuations in foreign currency exchange rates through our normal operating and financing activities, including netting certain exposures to take advantage of any natural offsets and, when considered appropriate, through the use of derivative and non-derivative financial instruments. Our primary focus is to monitor our exposure to, and manage, the economic foreign currency exchange risks faced by our operations and realized if we exchange one currency for another. We currently only hedge certain of our ship commitments and net investments in foreign operations. The financial impacts of the hedging instruments we do employ generally offset the changes in the underlying exposures being hedged.

Operational Currency Risks

Our operations primarily utilize the U.S. dollar, Australian dollar, euro or sterling as their functional currencies. Our operations also have revenue and expenses denominated in non-functional currencies. Movements in foreign currency exchange rates will affect our financial statements.

Investment Currency Risks

We consider our investments in foreign operations to be denominated in stable currencies. Our investments in foreign operations are of a long-term nature. We have $5.8 billion and $876 million of euro- and sterling-denominated debt, respectively, including the effect of foreign currency swaps, which provides an economic offset for our operations with euro and sterling functional currency. We also partially mitigate our net investment currency exposures by denominating a portion of our foreign currency intercompany payables in our foreign operations’ functional currencies.

Newbuild Currency Risks

Our shipbuilding contracts are typically denominated in euros. Our decision to hedge a non-functional currency ship commitment for our cruise brands is made on a case-by-case basis, considering the amount and duration of the exposure, market volatility, economic trends, our overall expected net cash flows by currency and other offsetting risks. We use foreign currency derivative contracts to manage foreign currency exchange rate risk for some of our ship construction payments. At May 31, 2018, for the following newbuilds, we had foreign currency zero cost collars for a portion of euro-denominated shipyard payments. These collars are designated as cash flow hedges.



	Entered Into	Matures in	Weighted-Average Floor Rate		Weighted- Average Ceiling Rate
Nieuw Statendam	2016	November 2018	$	1.05	$	1.25

If the spot rate is between the ceiling and floor rates on the date of maturity, then we would not owe or receive any payments under these collars.

At May 31, 2018, our remaining newbuild currency exchange rate risk primarily relates to euro-denominated newbuild contract payments, which represent a total unhedged commitment of $7.6 billion and relates to newbuilds scheduled to be delivered in 2019 through 2022 to non-euro functional currency brands.

The cost of shipbuilding orders that we may place in the future that is denominated in a different currency than our cruise brands’ will be affected by foreign currency exchange rate fluctuations. These foreign currency exchange rate fluctuations may affect our decision to order new cruise ships.

Interest Rate Risks

We manage our exposure to fluctuations in interest rates through our debt portfolio management and investment strategies. We evaluate our debt portfolio to determine whether to make periodic adjustments to the mix of fixed and floating rate debt through the use of interest rate swaps, issuance of new debt, amendment of existing debt or early retirement of existing debt.

Concentrations of Credit Risk

As part of our ongoing control procedures, we monitor concentrations of credit risk associated with financial and other institutions with which we conduct significant business. We seek to minimize these credit risk exposures, including counterparty nonperformance primarily associated with our cash equivalents, investments, committed financing facilities, contingent obligations, derivative instruments, insurance contracts and new ship progress payment guarantees, by:


•	Conducting business with large, well-established financial institutions, insurance companies and export credit agencies


•	Diversifying our counterparties


•	Having guidelines regarding credit ratings and investment maturities that we follow to help safeguard liquidity and minimize risk


•	Generally requiring collateral and/or guarantees to support notes receivable on significant asset sales, long-term ship charters and new ship progress payments to shipyards

We currently believe the risk of nonperformance by any of our significant counterparties is remote. At May 31, 2018, our exposures under foreign currency and fuel derivative contracts and interest rate swap agreements were not material. We also monitor the creditworthiness of travel agencies and tour operators in Asia, Australia and Europe, which includes charter-hire agreements in Asia and credit and debit card providers to which we extend credit in the normal course of our business. Our credit exposure also includes contingent obligations related to cash payments received directly by travel agents and tour operators for cash collected by them on cruise sales in Australia and most of Europe where we are obligated to honor our guests’ cruise payments made by them to their travel agents and tour operators regardless of whether we have received these payments. Concentrations of credit risk associated with these trade receivables, charter-hire agreements and contingent obligations are not considered to be material, principally due to the large number of unrelated accounts, the nature of these contingent obligations and their short maturities. We have not experienced significant credit losses on our trade receivables, charter-hire agreements and contingent obligations. We do not normally require collateral or other security to support normal credit sales.

Segment Information

6 Months Ended

May 31, 2018

Segment Reporting [Abstract]

Segment Information

Beginning in the first quarter of 2018, we revised our operating segments due to changes in our internal reporting as a result of the recent strategic realignment of our business in Australia. The presentation of prior period segment information has been revised to reflect this change. Our operating segments are reported on the same basis as the internally reported information that is provided to our chief operating decision maker (“CODM”), who is the President and Chief Executive Officer of Carnival Corporation and Carnival plc. The CODM assesses performance and makes decisions to allocate resources for Carnival Corporation & plc based upon review of the results across all of our segments. Our four reportable segments are comprised of (1) North America and Australia cruise operations (“NAA”), (2) Europe and Asia cruise operations (“EA”), (3) Cruise Support and (4) Tour and Other.

The operating segments within each of our NAA and EA reportable segments have been aggregated based on the similarity of their economic and other characteristics. Our Cruise Support segment represents our portfolio of leading port destinations and other services, all of which are operated for the benefit of our cruise brands. Our Tour and Other segment represents the hotel and transportation operations of Holland America Princess Alaska Tours and other operations.



	Three Months Ended May 31,
(in millions)	Revenues		Operating costs and expenses		Selling and administrative		Depreciation and amortization		Operating income (loss)
2018
NAA	$	2,836	$	1,747	$	338	$	317	$	433
EA	1,449		888		191		160		210
Cruise Support	31		11		64		25		(69		)
Tour and Other	42		36		11		10		(14		)
	$	4,357	$	2,681	$	605	$	512	$	559
2017
NAA	$	2,663	$	1,596	$	330	$	301	$	436
EA	1,212		796		161		134		120
Cruise Support	34		11		56		12		(45		)
Tour and Other	37		33		6		9		(11		)
	$	3,945	$	2,436	$	553	$	456	$	500



	Six Months Ended May 31,
(in millions)	Revenues		Operating costs and expenses		Selling and administrative		Depreciation and amortization		Operating income (loss)
2018
NAA	$	5,519	$	3,405	$	705	$	617	$	793
EA	2,952		1,892		379		316		364
Cruise Support	63		43		119		48		(147		)
Tour and Other	55		50		17		19		(31		)
	$	8,589	$	5,390	$	1,221	$	1,000	$	978
2017
NAA	$	5,180	$	3,152	$	663	$	591	$	774
EA	2,438		1,655		320		264		199
Cruise Support	72		17		111		23		(79		)
Tour and Other	46		46		8		18		(26		)
	$	7,736	$	4,870	$	1,102	$	896	$	868

Earnings Per Share

6 Months Ended

May 31, 2018

Earnings Per Share [Abstract]

Earnings Per Share



	Three Months Ended May 31,				Six Months Ended May 31,
(in millions, except per share data)	2018		2017		2018		2017
Net income for basic and diluted earnings per share	$	561	$	379	$	951	$	730
Weighted-average shares outstanding	714		724		715		724
Dilutive effect of equity plans	1		3		2		3
Diluted weighted-average shares outstanding	715		727		717		727
Basic earnings per share	$	0.79	$	0.52	$	1.33	$	1.01
Diluted earnings per share	$	0.78	$	0.52	$	1.33	$	1.00

Shareholder's Equity	6 Months Ended
Shareholder's Equity	May 31, 2018
Shareholder's Equity [Abstract]
Shareholder's Equity	Shareholders’ Equity On April 10, 2018, the Boards of Directors approved a modification of the general authorization to repurchase Carnival Corporation common stock and/or Carnival plc ordinary shares (the “Repurchase Program”), which replenished the remaining authorized repurchases at the time of the approval to $1.0 billion. During the six months ended May 31, 2018, we repurchased 4.7 million shares of Carnival plc ordinary shares and 3.1 million shares of Carnival Corporation common stock for $312 million and $201 million, respectively, under the Repurchase Program. At May 31, 2018, the remaining availability under the Repurchase Program was $827 million. During the three months ended May 31, 2018, our Boards of Directors declared a dividend to holders of Carnival Corporation common stock and Carnival plc ordinary shares of $0.50 per share, which was an increase from the prior dividend of $0.45 per share.

Property and Equipment	6 Months Ended
Property and Equipment	May 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment In March 2018, we sold an EA 700-passenger capacity ship. In April 2018, we transferred an EA 1,300-passenger capacity ship under a bareboat charter agreement which was accounted for as a sale.

General (Policies)	6 Months Ended
General (Policies)	May 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The Consolidated Statements of Income and the Consolidated Statements of Comprehensive Income for the six months ended May 31, 2018 and 2017, the Consolidated Balance Sheet at May 31, 2018 and the Consolidated Statements of Cash Flows for the six months ended May 31, 2018 and 2017 are unaudited and, in the opinion of our management, contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement. Our interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes included in the Carnival Corporation & plc 2017 joint Annual Report on Form 10-K (“Form 10-K”) filed with the U.S. Securities and Exchange Commission on January 29, 2018. Our operations are seasonal and results for interim periods are not necessarily indicative of the results for the entire year.
Accounting Pronouncements	Accounting Pronouncements The Financial Accounting Standards Board (the “FASB”) issued amended guidance, Compensation - Retirement Benefits - Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which requires the bifurcation of service costs and other components of net benefit cost. The presentation of the other components of net benefit cost have been recorded in other income. On December 1, 2017, we adopted this guidance using the retrospective transition method for the presentation of the service cost component and other components of net benefit cost. The impact of adopting this guidance was immaterial to our consolidated financial statements, and as such, prior period information was not revised. The FASB issued guidance, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. When effective, this standard will replace most existing revenue recognition guidance in U.S. generally accepted accounting principles (“U.S. GAAP”). The standard also requires more detailed disclosures and provides additional guidance for transactions that were not comprehensively addressed in U.S. GAAP. This guidance is required to be adopted by us in the first quarter of 2019 and can be applied using either a retrospective or a modified retrospective approach. Based on our assessment to date, the adoption of this guidance is not expected to have a material impact to the timing of our recognition of revenue and will require additional disclosures. We are currently evaluating if this guidance will have any other impact on our consolidated financial statements. The FASB issued amended guidance, Business Combinations - Clarifying the Definition of a Business, which assists entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This guidance is required to be adopted by us in the first quarter of 2019 on a prospective basis. Early adoption is permitted, including adoption in an interim period. The adoption of this guidance is not expected to have a material impact on our consolidated financial statements. The FASB issued amended guidance, Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments, which clarifies how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments are aimed at reducing the existing diversity in practice. This guidance is required to be adopted by us in the first quarter of 2019 and must be applied using a retrospective approach for each period presented. Early adoption is permitted, including adoption in an interim period. The adoption of this guidance is not expected to have a material impact on our consolidated financial statements. The FASB issued amended guidance, Statement of Cash Flows - Restricted Cash, which requires restricted cash to be presented with cash and cash equivalents in the statement of cash flows. This guidance is required to be adopted by us in the first quarter of 2019 and must be applied using a retrospective approach to each period presented. Early adoption is permitted, including adoption in an interim period. The adoption of this guidance is not expected to have a material impact on our consolidated financial statements. The FASB issued amended guidance, Service Concession Arrangements, which clarifies that the grantor in a service arrangement should be considered the customer of the operating entity in all cases. This guidance is required to be adopted by us in the first quarter of 2019 and can be applied using either a retrospective or a modified retrospective approach. The adoption of this guidance is not expected to have a material impact on our consolidated financial statements. The FASB issued guidance, Leases, which requires an entity to recognize both assets and liabilities arising from financing and operating leases, along with additional qualitative and quantitative disclosures. This guidance is required to be adopted by us in the first quarter of 2020 and must be applied using a modified retrospective approach. Early adoption is permitted. Based on our assessment to date, the initial adoption of this guidance is expected to increase both our total assets and total liabilities and will require additional disclosures. We are currently evaluating if this guidance will have any other impact on our consolidated financial statements. The FASB issued guidance, Derivatives and Hedging, which targeted improvements to accounting for hedging activities such as hedging strategies, effectiveness assessments, and recognition of derivative gains or losses. This guidance is required to be adopted by us in the first quarter of 2020 and must be applied using a modified retrospective approach. Early adoption is permitted. We are currently evaluating the impact this guidance will have on our consolidated financial statements.

Fair Value Measurements, Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

May 31, 2018

Fair Value Disclosures [Abstract]

Estimated Carrying and Fair Values of Financial Instrument Assets and Liabilities Not Measured at Fair Value on a Recurring Basis

Financial Instruments that are not Measured at Fair Value on a Recurring Basis



	May 31, 2018								November 30, 2017
	Carrying Value		Fair Value						Carrying Value		Fair Value
(in millions)	Carrying Value		Level 1		Level 2		Level 3		Carrying Value		Level 1		Level 2		Level 3
Assets
Long-term other assets (a)	$	140	$	—	$	37	$	101	$	126	$	—	$	49	$	75
Total	$	140	$	—	$	37	$	101	$	126	$	—	$	49	$	75
Liabilities
Fixed rate debt (b)	$	5,296	$	—	$	5,473	$	—	$	5,588	$	—	$	5,892	$	—
Floating rate debt (b)	4,610		—		4,646		—		3,658		—		3,697		—
Total	$	9,906	$	—	$	10,119	$	—	$	9,246	$	—	$	9,589	$	—


(a)	Long-term other assets are comprised of notes receivable. The fair values of our Level 2 notes receivable were based on estimated future cash flows discounted at appropriate market interest rates. The fair values of our Level 3 notes receivable were estimated using risk-adjusted discount rates.

(b)

Estimated Fair Value and Basis of Valuation of Financial Instrument Assets and Liabilities Measured at Fair Value on a Recurring Basis

Financial Instruments that are Measured at Fair Value on a Recurring Basis



	May 31, 2018						November 30, 2017
(in millions)	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets
Cash and cash equivalents	$	1,053	$	—	$	—	$	395	$	—	$	—
Restricted cash	15		—		—		26		—		—
Marketable securities held in rabbi trusts (a)	7		—		—		97		—		—
Derivative financial instruments	—		6		—		—		15		—
Total	$	1,075	$	6	$	—	$	518	$	15	$	—
Liabilities
Derivative financial instruments	$	—	$	59	$	—	$	—	$	161	$	—
Total	$	—	$	59	$	—	$	—	$	161	$	—


(a)	The use of marketable securities held in rabbi trusts is restricted to funding certain deferred compensation and non-qualified U.S. pension plans.

Reconciliation of Changes in Carrying Amounts of Goodwill

Valuation of Goodwill and Trademarks



	Goodwill
(in millions)	NAA (a) Segment		EA (b) Segment			Total
At November 30, 2017	$	1,898	$	1,069		$	2,967
Foreign currency translation adjustment	—		(17		)	(17		)
At May 31, 2018	$	1,898	$	1,052		$	2,950

(a) North America & Australia (“NAA”)


(b)	Europe & Asia (“EA”)

Reconciliation of Changes in Carrying Amounts of Trademarks



	Trademarks
(in millions)	NAA Segment		EA Segment			Total
At November 30, 2017	$	927	$	252		$	1,179
Foreign currency translation adjustment	—		(3		)	(3		)
At May 31, 2018	$	927	$	248		$	1,176

Estimated Fair Values of Derivative Financial Instruments and Location in the Consolidated Balance Sheets

Derivative Instruments and Hedging Activities



(in millions)	Balance Sheet Location	May 31, 2018		November 30, 2017
Derivative assets
Derivatives designated as hedging instruments
Net investment hedges (a)	Prepaid expenses and other	$	4	$	3
Foreign currency zero cost collars (b)	Prepaid expenses and other	2		12
Total derivative assets		$	6	$	15
Derivative liabilities
Derivatives designated as hedging instruments
Net investment hedges (a)	Accrued liabilities and other	$	10	$	13
	Other long-term liabilities	14		17
Interest rate swaps (c)	Accrued liabilities and other	9		10
	Other long-term liabilities	13		17
		46		57
Derivatives not designated as hedging instruments
Fuel (d)	Accrued liabilities and other	13		95
	Other long-term liabilities	—		9
		13		104
Total derivative liabilities		$	59	$	161


(a)	At May 31, 2018 and November 30, 2017, we had foreign currency swaps totaling $316 million and $324 million, respectively, that are designated as hedges of our net investments in foreign operations with a euro-denominated functional currency. At May 31, 2018, these foreign currency swaps settle through September 2019.


(b)	At May 31, 2018 and November 30, 2017, we had foreign currency derivatives consisting of foreign currency zero cost collars that are designated as foreign currency cash flow hedges for a portion of our euro-denominated shipbuilding payments. See “Newbuild Currency Risks” below for additional information regarding these derivatives.

(c)


(d)	At May 31, 2018 and November 30, 2017, we had fuel derivatives consisting of zero cost collars on Brent crude oil (“Brent”) to cover a portion of our estimated fuel consumption through 2018. See “Fuel Price Risks” below for additional information regarding these derivatives.

Offsetting Derivative Instruments

Our derivative contracts include rights of offset with our counterparties. We have elected to net certain of our derivative assets and liabilities within counterparties.



	May 31, 2018
(in millions)	Gross Amounts		Gross Amounts Offset in the Balance Sheet		Total Net Amounts Presented in the Balance Sheet		Gross Amounts not Offset in the Balance Sheet			Net Amounts
Assets	$	6	$	—	$	6	$	(4	)	$	2
Liabilities	$	59	$	—	$	59	$	(4	)	$	54

	November 30, 2017
(in millions)	Gross Amounts		Gross Amounts Offset in the Balance Sheet		Total Net Amounts Presented in the Balance Sheet		Gross Amounts not Offset in the Balance Sheet			Net Amounts
Assets	$	15	$	—	$	15	$	(8	)	$	7
Liabilities	$	161	$	—	$	161	$	(8	)	$	153

Derivatives Qualifying and Designated as Hedging Instruments Recognized in Other Comprehensive Income

The effective gain (loss) portions of our derivatives qualifying and designated as hedging instruments recognized in other comprehensive income were as follows:



	Three Months Ended May 31,						Six Months Ended May 31,
(in millions)	2018			2017			2018			2017
Net investment hedges	$	16		$	(17	)	$	10		$	(16	)
Foreign currency zero cost collars – cash flow hedges	$	(11	)	$	27		$	(10	)	$	35
Interest rate swaps – cash flow hedges	$	—		$	3		$	4		$	4

Unrealized and Realized Gains (Losses) on Fuel Derivatives, Net



	Three Months Ended May 31,						Six Months Ended May 31,
(in millions)	2018			2017			2018			2017
Unrealized gains (losses) on fuel derivatives, net	$	50		$	(2	)	$	82		$	69
Realized losses on fuel derivatives, net	(9		)	(51		)	(25		)	(96		)
Gains (losses) on fuel derivatives, net	$	41		$	(53	)	$	57		$	(27	)

Outstanding Fuel Derivatives

At May 31, 2018, our outstanding fuel derivatives consisted of zero cost collars on Brent as follows:



Maturities (a)	Transaction Dates	Barrels (in thousands)	Weighted-Average Floor Prices		Weighted-Average Ceiling Prices
Fiscal 2018
	January 2014	1,350	$	75	$	110
	October 2014	1,500	$	80	$	114
		2,850


(a)	Fuel derivatives mature evenly over each month in 2018.

At May 31, 2018, for the following newbuilds, we had foreign currency zero cost collars for a portion of euro-denominated shipyard payments. These collars are designated as cash flow hedges.



	Entered Into	Matures in	Weighted-Average Floor Rate		Weighted- Average Ceiling Rate
Nieuw Statendam	2016	November 2018	$	1.05	$	1.25

Segment Information (Tables)

6 Months Ended

May 31, 2018

Segment Reporting [Abstract]

Schedule of Segment Information



	Three Months Ended May 31,
(in millions)	Revenues		Operating costs and expenses		Selling and administrative		Depreciation and amortization		Operating income (loss)
2018
NAA	$	2,836	$	1,747	$	338	$	317	$	433
EA	1,449		888		191		160		210
Cruise Support	31		11		64		25		(69		)
Tour and Other	42		36		11		10		(14		)
	$	4,357	$	2,681	$	605	$	512	$	559
2017
NAA	$	2,663	$	1,596	$	330	$	301	$	436
EA	1,212		796		161		134		120
Cruise Support	34		11		56		12		(45		)
Tour and Other	37		33		6		9		(11		)
	$	3,945	$	2,436	$	553	$	456	$	500



	Six Months Ended May 31,
(in millions)	Revenues		Operating costs and expenses		Selling and administrative		Depreciation and amortization		Operating income (loss)
2018
NAA	$	5,519	$	3,405	$	705	$	617	$	793
EA	2,952		1,892		379		316		364
Cruise Support	63		43		119		48		(147		)
Tour and Other	55		50		17		19		(31		)
	$	8,589	$	5,390	$	1,221	$	1,000	$	978
2017
NAA	$	5,180	$	3,152	$	663	$	591	$	774
EA	2,438		1,655		320		264		199
Cruise Support	72		17		111		23		(79		)
Tour and Other	46		46		8		18		(26		)
	$	7,736	$	4,870	$	1,102	$	896	$	868

Earnings Per Share (Tables)

6 Months Ended

May 31, 2018

Earnings Per Share [Abstract]

Basic and Diluted Earnings Per Share Computation



	Three Months Ended May 31,				Six Months Ended May 31,
(in millions, except per share data)	2018		2017		2018		2017
Net income for basic and diluted earnings per share	$	561	$	379	$	951	$	730
Weighted-average shares outstanding	714		724		715		724
Dilutive effect of equity plans	1		3		2		3
Diluted weighted-average shares outstanding	715		727		717		727
Basic earnings per share	$	0.79	$	0.52	$	1.33	$	1.01
Diluted earnings per share	$	0.78	$	0.52	$	1.33	$	1.00

General (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
General (Details) - USD ($) $ in Millions	May 31, 2018	May 31, 2017	May 31, 2018	May 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fees, taxes and charges collected by us from our guests	$ 143	$ 136	$ 291	$ 279

Unsecured Debt (Details) - USD ($) $ in Millions	1 Months Ended				6 Months Ended
Unsecured Debt (Details) - USD ($) $ in Millions	Apr. 30, 2018	Mar. 31, 2018	Jan. 31, 2018	Dec. 31, 2017	May 31, 2018	May 31, 2017
Sterling-denominated floating rate bank loan due December 2022
Debt Instrument [Line Items]
Proceeds from long-term debt				$ 469
Senior notes
Debt Instrument [Line Items]
Repayments of long-term debt				$ 500
Euro floating rate bank loans
Debt Instrument [Line Items]
Repayments of long-term debt			$ 365
Euro-denominated floating rate bank loan due 2020
Debt Instrument [Line Items]
Proceeds from long-term debt		$ 370
Export credit facility
Debt Instrument [Line Items]
Proceeds from long-term debt	$ 224	$ 555
Commercial paper
Debt Instrument [Line Items]
Current unsecured debt					$ 606
Proceeds from short term debt					2	$ 111
Repayments of short term debt					2	$ 364
Euro-denominated bank loan \| Euro-denominated bank loans
Debt Instrument [Line Items]
Current unsecured debt					$ 231

Fair Value Measurements, Derivative Instruments and Hedging Activities and Financial Risks - Estimated Carrying and Fair Values of Financial Instrument Assets and Liabilities Not Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	May 31, 2018	Nov. 30, 2017
Carrying Value
Assets
Long-term other assets	$ 140	$ 126
Total	140	126
Liabilities
Total	9,906	9,246
Carrying Value \| Fixed Rate
Liabilities
Debt	5,296	5,588
Carrying Value \| Floating Rate
Liabilities
Debt	4,610	3,658
Fair Value \| Level 1
Assets
Long-term other assets	0	0
Total	0	0
Liabilities
Total	0	0
Fair Value \| Level 1 \| Fixed Rate
Liabilities
Debt	0	0
Fair Value \| Level 1 \| Floating Rate
Liabilities
Debt	0	0
Fair Value \| Level 2
Assets
Long-term other assets	37	49
Total	37	49
Liabilities
Total	10,119	9,589
Fair Value \| Level 2 \| Fixed Rate
Liabilities
Debt	5,473	5,892
Fair Value \| Level 2 \| Floating Rate
Liabilities
Debt	4,646	3,697
Fair Value \| Level 3
Assets
Long-term other assets	101	75
Total	101	75
Liabilities
Total	0	0
Fair Value \| Level 3 \| Fixed Rate
Liabilities
Debt	0	0
Fair Value \| Level 3 \| Floating Rate
Liabilities
Debt	$ 0	$ 0

Fair Value Measurements, Derivative Instruments and Hedging Activities and Financial Risks - Estimated Fair Value and Basis of Valuation of Financial Instrument Assets And Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	May 31, 2018	Nov. 30, 2017
Assets
Derivative financial instruments	$ 6	$ 15
Liabilities
Derivative financial instruments	59	161
Financial Instruments Measured at Fair Value on a Recurring Basis \| Level 1
Assets
Restricted cash	15	26
Total	1,075	518
Financial Instruments Measured at Fair Value on a Recurring Basis \| Level 1 \| Money market funds
Assets
Cash and cash equivalents	1,053	395
Financial Instruments Measured at Fair Value on a Recurring Basis \| Level 1 \| Marketable securities held in rabbi trusts
Assets
Investments	7	97
Financial Instruments Measured at Fair Value on a Recurring Basis \| Level 2
Assets
Total	6	15
Liabilities
Total	59	161
Financial Instruments Measured at Fair Value on a Recurring Basis \| Level 2 \| Derivative financial instruments, assets
Assets
Derivative financial instruments	6	15
Financial Instruments Measured at Fair Value on a Recurring Basis \| Level 2 \| Derivative financial instruments, liabilities
Liabilities
Derivative financial instruments	$ 59	$ 161

Fair Value Measurements, Derivative Instruments and Hedging Activities and Financial Risks - Reconciliation of Changes in Carrying Amounts of Goodwill (Details) $ in Millions	6 Months Ended
	May 31, 2018 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 2,967
Foreign currency translation adjustment	(17)
Ending balance	2,950
NAA Segment
Goodwill [Roll Forward]
Beginning balance	1,898
Foreign currency translation adjustment	0
Ending balance	1,898
EA Segment
Goodwill [Roll Forward]
Beginning balance	1,069
Foreign currency translation adjustment	(17)
Ending balance	$ 1,052

Fair Value Measurements, Derivative Instruments and Hedging Activities and Financial Risks - Reconciliation of Changes in Carrying Amounts of Intangible Assets Not Subject to Amortization (Details) $ in Millions	6 Months Ended
	May 31, 2018 USD ($)
Indefinite-lived Intangible Assets [Roll Forward]
Beginning balance	$ 1,179
Foreign currency translation adjustment	(3)
Ending balance	1,176
NAA Segment
Indefinite-lived Intangible Assets [Roll Forward]
Beginning balance	927
Foreign currency translation adjustment	0
Ending balance	927
EA Segment
Indefinite-lived Intangible Assets [Roll Forward]
Beginning balance	252
Foreign currency translation adjustment	(3)
Ending balance	$ 248

Fair Value Measurements, Derivative Instruments and Hedging Activities and Financial Risks - Derivatives Qualifying and Designated as Hedging Instruments Recognized in Other Comprehensive Income (Details) - USD ($)	3 Months Ended		6 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2018	May 31, 2017	Nov. 30, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Derivative assets	$ 6,000,000		$ 6,000,000		$ 15,000,000
Derivative liabilities	59,000,000		59,000,000		161,000,000
Interest rate swaps – cash flow hedges \| Cash flow hedging
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate swaps designated as cash flow hedges	429,000,000		429,000,000		479,000,000
Fuel
Derivative Instruments, Gain (Loss) [Line Items]
Collateral required to be posted	0		0		0
Collateral required to be received	0		0		0
Designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative assets	6,000,000		6,000,000		15,000,000
Derivative liabilities	46,000,000		46,000,000		57,000,000
Designated as hedging instruments \| Net investment hedges
Derivative Instruments, Gain (Loss) [Line Items]
Effective portions of derivatives qualifying and designated as hedging instruments recognized in other comprehensive income	16,000,000	$ (17,000,000)	10,000,000	$ (16,000,000)
Designated as hedging instruments \| Foreign currency zero cost collars – cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Effective portions of derivatives qualifying and designated as hedging instruments recognized in other comprehensive income	(11,000,000)	27,000,000	(10,000,000)	35,000,000
Designated as hedging instruments \| Interest rate swaps – cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Effective portions of derivatives qualifying and designated as hedging instruments recognized in other comprehensive income	0	$ 3,000,000	4,000,000	$ 4,000,000
Designated as hedging instruments \| Currency swap
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liabilities	316,000,000		316,000,000		324,000,000
Not designated as hedging instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liabilities	13,000,000		13,000,000		104,000,000
Prepaid expenses and other \| Designated as hedging instruments \| Net investment hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative assets	4,000,000		4,000,000		3,000,000
Prepaid expenses and other \| Designated as hedging instruments \| Foreign currency zero cost collars – cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative assets	2,000,000		2,000,000		12,000,000
Accrued liabilities and other \| Designated as hedging instruments \| Net investment hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liabilities	10,000,000		10,000,000		13,000,000
Accrued liabilities and other \| Designated as hedging instruments \| Interest rate swaps – cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liabilities	9,000,000		9,000,000		10,000,000
Accrued liabilities and other \| Not designated as hedging instrument \| Fuel
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liabilities	13,000,000		13,000,000		95,000,000
Other long-term liabilities \| Designated as hedging instruments \| Net investment hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liabilities	14,000,000		14,000,000		17,000,000
Other long-term liabilities \| Designated as hedging instruments \| Interest rate swaps – cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liabilities	13,000,000		13,000,000		17,000,000
Other long-term liabilities \| Not designated as hedging instrument \| Fuel
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liabilities					$ 9,000,000
Minimum
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, cash collateral netting threshold, fair value	$ 100,000,000		$ 100,000,000

Fair Value Measurements, Derivative Instruments and Hedging Activities and Financial Risks - Offsetting Derivative Instruments (Details) - USD ($) $ in Millions	May 31, 2018	Nov. 30, 2017
Assets
Gross Amounts	$ 6	$ 15
Gross Amounts Offset in the Balance Sheet	0	0
Total Net Amounts Presented in the Balance Sheet	6	15
Gross Amounts not Offset in the Balance Sheet	(4)	(8)
Net Amounts	2	7
Liabilities
Gross Amounts	59	161
Gross Amounts Offset in the Balance Sheet	0	0
Total Net Amounts Presented in the Balance Sheet	59	161
Gross Amounts not Offset in the Balance Sheet	(4)	(8)
Net Amounts	$ 54	$ 153

Fair Value Measurements, Derivative Instruments and Hedging Activities and Financial Risks - Fuel Derivatives Outstanding (Details) bbl in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2018 USD ($) $ / bbl bbl	May 31, 2017 USD ($)	May 31, 2018 USD ($) $ / bbl	May 31, 2017 USD ($)
Derivative [Line Items]
Gains (losses) on fuel derivatives, net \| $	$ 41	$ (53)	$ 57	$ (27)
Fuel
Derivative [Line Items]
Unrealized gains (losses) on fuel derivatives, net \| $	50	(2)	82	69
Realized losses on fuel derivatives, net \| $	(9)	(51)	(25)	(96)
Gains (losses) on fuel derivatives, net \| $	$ 41	$ (53)	$ 57	$ (27)
Fuel Derivatives 2018 Maturity January 2014 Transaction
Derivative [Line Items]
Barrels (in thousands) \| bbl	1,350
Weighted-average floor price (in dollars per barrel) \| $ / bbl	75		75
Weighted-average ceiling price (in dollars per barrel) \| $ / bbl	110		110
Fuel Derivatives 2018 Maturity October 2014 Transaction
Derivative [Line Items]
Barrels (in thousands) \| bbl	1,500
Weighted-average floor price (in dollars per barrel) \| $ / bbl	80		80
Weighted-average ceiling price (in dollars per barrel) \| $ / bbl	114		114
Fuel Derivatives 2018 Maturity
Derivative [Line Items]
Barrels (in thousands) \| bbl	2,850

Fair Value Measurements, Derivative Instruments and Hedging Activities and Financial Risks - Foreign Currency Exchange Rate Risks (Details)	May 31, 2018 USD ($)
Fair Value, Measurement Inputs, Disclosure [Line Items]
Foreign currency contract commitments	$ 7,600,000,000
Foreign currency zero cost collars – cash flow hedges \| Nieuw Statendam \| Cash Flow Hedging
Fair Value, Measurement Inputs, Disclosure [Line Items]
Weighted-Average Floor Rate	1.05
Weighted- Average Ceiling Rate	1.25
Euro-denominated
Fair Value, Measurement Inputs, Disclosure [Line Items]
Debt instrument, face amount	$ 5,800,000,000.0
Sterling-denominated
Fair Value, Measurement Inputs, Disclosure [Line Items]
Debt instrument, face amount	$ 876,000,000

Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
Segment Information (Details) $ in Thousands	May 31, 2018 USD ($)	May 31, 2017 USD ($)	May 31, 2018 USD ($) segment	May 31, 2017 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment			4
Revenues	$ 4,357,000	$ 3,945,000	$ 8,589,000	$ 7,736,000
Operating costs and expenses	2,681,000	2,436,000	5,390,000	4,870,000
Selling and administrative	605,000	553,000	1,221,000	1,102,000
Depreciation and amortization	512,000	456,000	1,000,000	896,000
Operating Income	559,000	500,000	978,000	868,000
Operating Segments \| NAA
Segment Reporting Information [Line Items]
Revenues	2,836,000	2,663,000	5,519	5,180,000
Operating costs and expenses	1,747,000	1,596,000	3,405	3,152,000
Selling and administrative	338,000	330,000	705,000	663,000
Depreciation and amortization	317,000	301,000	617	591,000
Operating Income	433,000	436,000	793	774,000
Operating Segments \| EA
Segment Reporting Information [Line Items]
Revenues	1,449,000	1,212,000	2,952	2,438,000
Operating costs and expenses	888,000	796,000	1,892	1,655,000
Selling and administrative	191,000	161,000	379,000	320,000
Depreciation and amortization	160,000	134,000	316	264,000
Operating Income	210,000	120,000	364	199,000
Operating Segments \| Cruise Support
Segment Reporting Information [Line Items]
Revenues	31,000	34,000	63	72,000
Operating costs and expenses	11,000	11,000	43	17,000
Selling and administrative	64,000	56,000	119,000	111,000
Depreciation and amortization	25,000	12,000	48	23,000
Operating Income	(69,000)	(45,000)	(147)	(79,000)
Operating Segments \| Tour and Other Segment
Segment Reporting Information [Line Items]
Revenues	42,000	37,000	55	46,000
Operating costs and expenses	36,000	33,000	50	46,000
Selling and administrative	11,000	6,000	17,000	8,000
Depreciation and amortization	10,000	9,000	19	18,000
Operating Income	$ (14,000)	$ (11,000)	$ (31)	$ (26,000)

Earnings Per Share - Basic and Diluted Earnings Per Share Computation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2018	May 31, 2017
Earnings Per Share [Abstract]
Net income for basic and diluted earnings per share	$ 561	$ 379	$ 951	$ 730
Weighted-average shares outstanding (in shares)	714	724	715	724
Dilutive effect of equity plans (in shares)	1	3	2	3
Diluted weighted-average shares outstanding (in shares)	715	727	717	727
Basic earnings per share (in dollars per share)	$ 0.79	$ 0.52	$ 1.33	$ 1.01
Diluted earnings per share (in dollars per share)	$ 0.78	$ 0.52	$ 1.33	$ 1.00

Shareholder's Equity (Details) - USD ($) $ / shares in Units, shares in Millions	3 Months Ended			6 Months Ended
	May 31, 2018	Feb. 28, 2018	May 31, 2017	May 31, 2018	May 31, 2017	Apr. 10, 2018
Equity, Class of Treasury Stock [Line Items]
Shares repurchase program, aggregate value authorized for repurchase						$ 1,000,000,000.0
Purchases of treasury stock (in dollars)				$ 513,000,000	$ 152,000,000
Dividends declared per share (in dollars per share)	$ 0.5	$ 0.45	$ 0.4	$ 0.95	$ 0.75
Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Remaining authorized repurchase amount	$ 827,000,000			$ 827,000,000
Repurchase Program \| CARNIVAL PLC
Equity, Class of Treasury Stock [Line Items]
Shares repurchased (in shares)	4.7
Purchases of treasury stock (in dollars)	$ 312,000,000
Repurchase Program \| Carnival Corp
Equity, Class of Treasury Stock [Line Items]
Shares repurchased (in shares)	3.1
Purchases of treasury stock (in dollars)	$ 201,000,000

Property and Equipment (Details) - passenger	1 Months Ended
Property and Equipment (Details) - passenger	Apr. 30, 2018	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Passenger capacity	1,300	700