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Mariah Carey and Nick Cannon's Divorce Is Finalized

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Mariah Carey may be in the beginning stages of her split from James Packer, but things are officially said and done between her and Nick Cannon.

The former couple’s divorce has been finalized, a source confirms to PEOPLE.

The pair filed for divorce at the end of 2014 but have often reunited to spend time together with their 5½-year-old twins Monroe and Moroccan.

“What’s most important is they’re doing it right when it comes to their kids,” a source previously told PEOPLE. “What star couple do you know that still spends every holiday together? It’s all about ‘dem babies.”

The news comes as Carey finds herself in the midst of a breakup with Packer, a 49-year-old Australian businessman.

Dimitrios Kambouris/Getty
Dimitrios Kambouris/Getty
Dimitrios Kambouris/Getty

“They are not together right now. They split a couple of weeks ago,” a source close to Packer confirmed to PEOPLE late last month. “It’s possible they will get back together. They are still talking, but James needed a break.”

A source previously told PEOPLE that Carey “had to leave” Packer because “his behavior was not a desirable situation” for her.

“James has not been in a mentally healthy place and has not been present for Mariah or her family.”

RELATED VIDEO: Nick Cannon Addresses Headlines About His and Mariah Carey’s Divorce Being Finalized

However, Packer’s rep previously told PEOPLE that claims questioning his mental stability are “simply not true.” A source close to Packer said, it’s “typical Mariah to just twist things that don’t sound good to her. They split because she has issues.”

Although the breakup appears to be a case of he-said, she-said, one thing has been made clear: Carey is keeping the $10 million engagement ring Packer gave her.

Carey stepped out on Thursday for a post-breakup night out with the ring on full display.

  • REPORTING by JULIE JORDAN and JANINE RUBENSTEIN