Mariah Carey and Nick Cannon filed for divorce in 2014, but the settlement they recently reached brings some remarkable revelations about the couple's finances and co-parenting.
The couple shares joint custody of 5-year-old twins Moroccan and Monroe, but the tykes reside primarily with Carey, 46. If Cannon, 36, visits, Carey pays for any of his travel and lodging expenses, TMZ reports.
The settlement also requires that the children are not to refer to anyone other than Carey and Cannon as their parental figures, which means they're not allowed to call anyone else Mom, Dad or any variation thereof.
Cannon is also required to put $5,000 per month in a trust for the twins.
Carey doesn't have to contribute to the trust fund — but she did have to hand over a 2012 Ferrari to the "America's Got Talent" host.
The Grammy winner's declared income for 2014 was $6.3 million while Cannon took home $2.5 million.
Carey and Cannon married in 2008 and separated in August 2014. The couple settled their divorce in September in time for Carey to wed then-fiancé James Packer — but they had a bitter October split before ever making it down the aisle.
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