Long-term Debt (Tables)

9 Months Ended

Aug. 31, 2014

Debt Disclosure [Abstract]

Summary of Long-Term Debt

Long-term Debt

	August 31, 2014			November 30, 2013
	(In millions)
Term loan, bearing interest at variable rates (rate of 2.74% as of August 31, 2014), payable in quarterly installments of $1.3 million plus interest, maturing in May 2019	$	100.0		$	45.0
Total senior debt	100.0			45.0
Senior secured notes, bearing interest at 7.125% per annum, interest payments due in March and September, maturing in March 2021	460.0			460.0
Total senior secured notes	460.0			460.0
Convertible subordinated debentures, bearing interest at 2.25% per annum, interest payments due in May and November, maturing in November 2024	0.2			0.2
Convertible subordinated debentures, bearing interest at 4.0625% per annum, interest payments due in June and December, maturing in December 2039	133.6			193.2
Total convertible subordinated notes	133.8			193.4
Delayed draw term loan, bearing interest at variable rates (rate of 9.50% as of August 31, 2014), maturing in April 2022	89.0			—
Capital lease, payable in monthly installments, maturing in March 2017	0.7			0.8
Total other debt	89.7			0.8
Total debt	783.5			699.2
Less: Amounts due within one year	(5.5		)	(2.9		)
Total long-term debt	$	778.0		$	696.3

Actual Ratios and Required Ratios Under Financial Covenants

Additionally, the Senior Credit Facility includes certain financial covenants, including that the Company maintain (i) a maximum total leverage ratio, calculated net of cash up to a maximum of $150.0 million, of 4.50 to 1.00 through fiscal periods ending November 30, 2015, 4.25 to 1.00 through fiscal periods ending November 30, 2017, and 4.00 to 1.00 thereafter; and (ii) a minimum interest coverage ratio of 2.40 to 1.00.

Financial Covenant	Actual Ratios as of August 31, 2014	Required Ratios
Interest coverage ratio, as defined under the Senior Credit Facility	3.39 to 1.00	Not less than: 2.40 to 1.00
Leverage ratio, as defined under the Senior Credit Facility	3.75 to 1.00	Not greater than: 4.50 to 1.00

Summary of 4 1/16% Debentures

A summary of the Company’s 4 1/16% Debentures repurchased during the first nine months of fiscal 2014 is as follows (in millions):    

Principal amount repurchased	$	59.6
Cash repurchase price	(119.9		)
Write-off of deferred financing costs	(0.3		)
Loss on 4 1/16% Debentures repurchased	$	(60.6	)