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Carnival Corp's quarterly construction in progress declined from Nov. 2014 ($533 Mil) to Feb. 2015 ($0 Mil) but then stayed the same from Feb. 2015 ($0 Mil) to May. 2015 ($0 Mil).
Carnival Corp's annual construction in progress increased from Nov. 2012 ($380 Mil) to Nov. 2013 ($535 Mil) but then declined from Nov. 2013 ($535 Mil) to Nov. 2014 ($533 Mil).
It records the cost of construction work, which is not yet completed (typically, applied to capital budget items). A construction in progress item is not depreciated until the asset is placed in service. Normally, upon completion, a construction in progress item is reclassified, and the reclassified asset is capitalized and depreciated.
Carnival Corp Annual Data
Carnival Corp Quarterly Data