Fair Value Measurements

6 Months Ended

May. 30, 2015

Note 14: Fair Value Measurements

The following tables present information about our financial assets and liabilities that are measured at fair value on a recurring basis as of May 30, 2015 and November 29, 2014, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. The hierarchy is broken down into three levels. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs include data points that are observable such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs (other than quoted prices) such as interest rates and yield curves that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable data points for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability.


		May 30,	Fair Value Measurements Using:
Description		2015		Level 1		Level 2		Level 3
Assets:
Marketable securities	$	909	$	909	$	-	$	-
Derivative assets		8,577		-		8,577		-
Interest rate swaps		4,108		-		4,108		-

Liabilities:
Derivative liabilities	$	1,147	$	-	$	1,147	$	-
Contingent consideration liability, continuing operations		38,216		-		-		38,216
Contingent consideration liability, discontinued operations		8,000		-		-		8,000


		November 29,	Fair Value Measurements Using:
Description		2014		Level 1		Level 2		Level 3
Assets:
Marketable securities	$	748	$	748	$	-	$	-
Derivative assets		1,007		-		1,007		-
Interest rate swaps		4,726		-		4,726		-
Cash-flow hedges		5,408		-		5,408		-

Liabilities:
Derivative liabilities	$	433	$	-	$	433	$	-
Contingent consideration liability, continuing operations		196		-		-		196
Contingent consideration liability, discontinued operations		5,000		-		-		5,000

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details