Property and Equipment

12 Months Ended

Nov. 30, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

	November 30,
(in millions)	2024		2023
Ships and ship improvements	$	58,649	$	55,026
Ships under construction	535		1,284
Other property and equipment	4,705		4,213
Total property and equipment	63,889		60,523
Less accumulated depreciation	(22,094)		(20,407)
	$	41,795	$	40,116

Capitalized interest amounted to $61 million in 2024, $64 million in 2023 and $48 million in 2022.

Sales of Ships

During 2024, we completed the sale of one North America and Australia (“NAA”) segment ship, which represents a passenger-capacity reduction of 2,000 berths. We will continue to operate this ship under a bareboat charter agreement through February 2025.

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.