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Segment Information (Tables)
 12 Months Ended
Nov. 30, 2025
Segment Reporting [Abstract]  
Schedule of Adjusted Operating Income (Loss)
The below tables include our calculation of adjusted operating income (loss), our significant segment expenses, and a reconciliation of adjusted operating income (loss) to net income (loss) before income taxes:

 As of and for the year ended November 30, 2025
(in millions)North AmericaEuropeCruise SupportTour and OtherTotal
Total Revenues$17,604 $8,467 $309 $241 $26,622 
Cruise and tour operating expenses:
Commissions, transportation and other2,104 1,326 (99)(e)— 
Onboard and other2,215 549 52 — 
Payroll and related1,438 1,001 149 — 
Fuel1,207 600 2 — 
Food1,065 432 2 — 
Adjusted other operating (a)(b)2,561 1,171 105 177 
Total adjusted cruise and tour operating expenses10,591 5,078 211 177 16,057 
Adjusted selling and administrative expense (c)(d)1,962 1,034 365 17 3,378 
Depreciation and amortization expense1,818 746 200 26 2,790 
Adjusted Operating Income (Loss)3,233 1,610 (468)22 4,396 
Gains on ship sales and impairments110 
Restructuring expenses(13)
Other(10)
Interest income51 
Interest expense, net of capitalized interest(1,349)
Debt extinguishment and modification costs(409)
Other income (expense), net(4)
Income (Loss) Before Income Taxes$2,772 
Capital Expenditures$2,367 $557 $647 $41 $3,611 
Total Assets$31,400 $16,030 $3,836 $421 $51,687 
(a)Represents other operating expenses, which include port costs that do not vary with guest head counts; repairs and maintenance, including minor improvements and dry-dock expenses; hotel costs; entertainment; freight and logistics; insurance premiums; tour and other expenses for our hotel and transportation operations and all other ship operating expenses.
(b)Excludes gains on ship sales and impairments.
(c)Excludes restructuring expenses.
(d)Excludes certain other gains and losses that are not part of our core operating business.
(e)Includes intercompany port fees, taxes and charges to our cruise segments related to our port destinations and exclusive islands, which eliminate in consolidation.
 As of and for the year ended November 30, 2024
(in millions)North AmericaEuropeCruise SupportTour and OtherTotal
Total Revenues$16,802 $7,710 $255 $255 $25,021 
Cruise and tour operating expenses:
Commissions, transportation and other2,072 1,245 (86)(d)— 
Onboard and other2,151 479 48 — 
Payroll and related1,419 924 121 — 
Fuel1,371 634 2 — 
Food1,051 406 1 — 
Adjusted other operating (a)(b)2,531 1,047 69 193 
Total adjusted cruise and tour operating expenses10,594 4,734 156 193 15,677 
Adjusted selling and administrative expense (c)1,938 953 320 19 3,231 
Depreciation and amortization expense1,664 676 193 24 2,557 
Adjusted Operating Income (Loss)2,605 1,347 (414)18 3,556 
Gains on ship sales and impairments39 
Restructuring expenses(21)
Interest income93 
Interest expense, net of capitalized interest(1,755)
Debt extinguishment and modification costs(79)
Other income (expense), net83 
Income (Loss) Before Income Taxes$1,915 
Capital Expenditures$3,943 $270 $382 $32 $4,626 
Total Assets$30,892 $15,042 $2,732 $390 $49,057 
(a)Represents other operating expenses, which include port costs that do not vary with guest head counts; repairs and maintenance, including minor improvements and dry-dock expenses; hotel costs; entertainment; freight and logistics; insurance premiums; tour and other expenses for our hotel and transportation operations and all other ship operating expenses.
(b)Excludes gains on ship sales and impairments.
(c)Excludes restructuring expenses.
(d)Includes intercompany port fees, taxes and charges to our cruise segments related to our port destinations and exclusive islands, which eliminate in consolidation.
 As of and for the year ended November 30, 2023
(in millions)North AmericaEuropeCruise SupportTour and OtherTotal
Total Revenues$14,588 $6,535 $206 $265 $21,593 
Cruise and tour operating expenses:
Commissions, transportation and other1,773 1,059 (71)(d)— 
Onboard and other1,919 411 45 — 
Payroll and related1,350 923 99 — 
Fuel1,397 648 2 — 
Food955 380 — — 
Adjusted other operating (a)(b)2,233 1,024 52 205 
Total adjusted cruise and tour operating expenses9,628 4,445 127 205 14,405 
Adjusted selling and administrative expense (c)1,753 865 286 27 2,931 
Depreciation and amortization expense1,495 668 184 23 2,370 
Adjusted Operating Income (Loss)1,712 556 (392)11 1,887 
Gains on ship sales and impairments88 
Restructuring expenses(19)
Interest income233 
Interest expense, net of capitalized interest(2,066)
Debt extinguishment and modification costs(111)
Other income (expense), net(75)
Income (Loss) Before Income Taxes$(62)
Capital Expenditures$1,932 $1,161 $179 $12 $3,284 
Total Assets$28,547 $16,524 $3,667 $382 $49,120 
(a)Represents other operating expenses, which include port costs that do not vary with guest head counts; repairs and maintenance, including minor improvements and dry-dock expenses; hotel costs; entertainment; freight and logistics; insurance premiums; tour and other expenses for our hotel and transportation operations and all other ship operating expenses.
(b)Excludes gains on ship sales and impairments.
(c)Excludes restructuring expenses.
(d)Includes intercompany port fees, taxes and charges to our cruise segments related to our port destinations and exclusive islands, which eliminate in consolidation.
Schedule of Revenue by Geographical Area
Revenue by country, which are based on where our guests are sourced, were as follows:
Years Ended November 30,
(in millions)202520242023
United States$14,847 $14,061 $12,253 
Germany3,348 3,063 2,651 
United Kingdom
3,054 2,740 2,284 
Other (a)5,374 5,157 4,406 
$26,622 $25,021 $21,593 

(a)No other individual country’s revenue exceeded 10% for the years ended November 30, 2025, 2024 and 2023.