SEC Filings

DEF 14A
CARNIVAL CORP filed this Form DEF 14A on 03/07/2019
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Table of Contents

COMPENSATION

CEO Pay Ratio

 

apply certain exclusions, and to make reasonable estimates and assumptions that reflect their compensation practices, the pay ratio reported by other companies may not be comparable to the pay ratio reported above, as other companies may have different employment and compensation practices and may utilize different methodologies, exclusions, estimates, and assumptions in calculating their own pay ratios.

To identify our median employee, we used total cash compensation for our estimated employee population of 154,161 as of October 31 2018 and excluded 7,492 employees from the following 30 foreign jurisdictions: Albania (38), Algeria (1), Armenia (1), Bangladesh (26), Belize (13), Bhutan (18), Bosnia & Herzegovina (448), Brazil (1,188), Cambodia (1), China (1,785), Georgia (53), Guinea (1), Honduras (972), Kazakhstan (12), Kenya (44), Kyrgyzstan (32), Malaysia (180), Moldova (155), Myanmar (498), Namibia (18), Nepal (217), Nicaragua (350), Pakistan (160), Paraguay (4), South Korea (73), Sri Lanka (623), St Vincent & The Grenadines (84), Vanuatu (290), Vietnam (198) and Zambia (9). Our workforce includes a large number of ship-based employees who typically work six to eleven months of the year and we did not annualize the pay for our employees when identifying our median.

We then applied a valid statistical sampling methodology to the remaining 149,669 employees to identify employees who were paid within a 5% range of the median. From these employees, we then selected a subset of 21 employees who were at or substantially similar to the median, identified a representative median employee from this group and calculated that employee’s annual total compensation in fiscal 2018 consistent with Item 402(c) of Regulation S-K. This figure includes gratuities directly billed to our guests, but excludes any cash gratuities paid directly to the employee by guests. It also excludes room and meals, transportation to and from the ship and medical care, which are provided to our crew members without charge.

 

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