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Shareholders' Equity | 12 Months Ended
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Nov. 30, 2020
Equity [Abstract] |
Shareholders' Equity | Shareholders’ Equity Share Repurchase Program Under a share repurchase program effective 2004, we had been authorized to repurchase Carnival Corporation common stock and Carnival plc ordinary shares (the “Repurchase Program”). On June 15, 2020, to enhance our liquidity and comply with restrictions in our recent financing transactions, the Boards of Directors terminated the Repurchase Program.
| Carnival Corporation |  | Carnival plc
(in millions) | Number of Shares Repurchased |  | Dollar Amount Paid for Shares Repurchased |  | Number of Shares Repurchased |  | Dollar Amount Paid for Shares Repurchased
2020 | — |  |  | $ | — |  |  | 0.2 |  |  | $ | 10 |
2019 | 0.6 |  |  | $ | 26 |  |  | 12.2 |  |  | $ | 569 |
2018 | 7.8 |  |  | $ | 476 |  |  | 16.3 |  |  | $ | 985 |
Accumulated Other Comprehensive Income (Loss)
| AOCI
| November 30,
(in millions) | 2020 |  | 2019
Cumulative foreign currency translation adjustments, net | $ | (1,382) |  |  | $ | (1,961) |
Unrecognized pension expenses | (95) |  |  | (88) |
Net losses on cash flow derivative hedges | 41 |  |  | (18) |
| $ | (1,436) |  |  | $ | (2,066) |
During 2020, 2019 and 2018, there were $3 million, $5 million and $5 million of unrecognized pension expenses that were reclassified out of accumulated other comprehensive loss and were included within payroll and related expenses and selling and administrative expenses. Dividends To enhance our liquidity, as well as comply with the dividend restrictions contained in our debt agreements, we suspended the payment of dividends on the common stock of Carnival Corporation and the ordinary shares of Carnival plc. We declared quarterly cash dividends on all of our common stock and ordinary shares as follows:
| Quarters Ended
(in millions, except per share data) | February 28 |  | May 31 |  | August 31 |  | November 30
2020 |  |  |  |  |  |  |
Dividends declared per share | $ | 0.50 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Dividends declared | $ | 342 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
2019 |  |  |  |  |  |  |
Dividends declared per share | $ | 0.50 |  |  | $ | 0.50 |  |  | $ | 0.50 |  |  | $ | 0.50 |
Dividends declared | $ | 345 |  |  | $ | 346 |  |  | $ | 342 |  |  | $ | 346 |
2018 |  |  |  |  |  |  |
Dividends declared per share | $ | 0.45 |  |  | $ | 0.50 |  |  | $ | 0.50 |  |  | $ | 0.50 |
Dividends declared | $ | 322 |  |  | $ | 357 |  |  | $ | 350 |  |  | $ | 349 |
Carnival Corporation’s Articles of Incorporation authorize its Board of Directors, at its discretion, to issue up to 40 million shares of preferred stock. At November 30, 2020 and 2019, no Carnival Corporation preferred stock or Carnival plc preference shares had been issued. Public Equity Offerings In April 2020, we completed a public offering of 71.9 million shares of Carnival Corporation’s common stock at a price per share of $8.00, resulting in net proceeds of $556 million. In October 2020, we completed our $1.0 billion “at-the-market” (“ATM”) equity offering program that was announced on September 15, 2020, pursuant to which we sold 67.1 million shares of Carnival Corporation common stock. In November 2020, we completed our $1.5 billion ATM equity offering program that was announced on November 10, 2020, pursuant to which we sold 94.5 million shares of Carnival Corporation common stock.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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