Summary of Significant Accounting Policies (Tables)

12 Months Ended

Nov. 30, 2013

Accounting Policies [Abstract]

Schedule of Fair Value of Financial Instruments

The following are measured at fair value:

	Total		Fair value measurement at November 30, 2013
			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In millions)
Money market funds	$	174.4	$	174.4	$	—	$	—

	Total		Fair value measurement at November 30, 2012
			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In millions)
Money market funds	$	166.0	$	166.0	$	—	$	—

Summary of Cash and Cash Equivalents and Grantor Trust by Investment Type

As of November 30, 2013, a summary of cash and cash equivalents and grantor trust by investment type is as follows:

	Total		Cash and Cash Equivalents		Money Market Funds
	(In millions)
Cash and cash equivalents	$	197.6	$	35.6	$	162.0
Grantor trust		12.4		—		12.4
	$	210.0	$	35.6	$	174.4

Estimated Fair Value and Principal Amount of Long-Term Debt

The estimated fair value and principal amount for the Company’s long-term debt is presented below:

	Fair Value				Principal Amount
	November 30, 2013		November 30, 2012		November 30, 2013		November 30, 2012
	(In millions)
Term loan	$	45.0	$	47.5	$	45.0	$	47.5
7.125% Second-Priority Senior Secured Notes (“7 1/8% Notes”)		494.5		—		460.0		—
4 1/16% Convertible Subordinated Debentures (“4 1/16% Debentures”)		398.1		246.0		193.2		200.0
Other debt		1.0		1.2		1.0		1.2
	$	938.6	$	294.7	$	699.2	$	248.7

Schedule of Useful Lives of Assets

Depreciation is computed principally by accelerated methods based on the following useful lives:

Buildings and improvements	9 — 40 years
Machinery and equipment	5 — 19 years

Intangible Assets Weighted Average Amortization Periods

Intangible assets weighted average amortization periods are as follows (in years):

	As of November 30,
	2013		2012
Customer related		10.2		20.0
Intellectual property\trade secrets		13.0		—
Non-Compete Agreements		3.0		—
Trade name		30.0		—
Technology		25.1		25.1

Schedule of Changes in Carrying Amount of Asset Retirement Obligation

The changes in the carrying amount of CAROs since November 30, 2010 were as follows (in millions):

Balance as of November 30, 2010	$	15.3
Additions and other, net		1.2
Accretion		1.3
Balance as of November 30, 2011		17.8
Additions and other, net		1.5
Accretion		1.5
Balance as of November 30, 2012		20.8
Rocketdyne Business Acquisition		1.2
Additions and other, net		(0.6	)
Accretion		1.5
Balance as of November 30, 2013	$	22.9

Schedule of Impact of Contracts in Progress on Statement of Operations

The following table summarizes the impact from changes in estimates and assumptions on the statement of operations on key contracts, representing 68% of the Company’s net sales over the last three fiscal years, accounted for under the percentage-of-completion method of accounting:

	Year Ended
	2013		2012		2011
	(In millions, except per share amounts)
Favorable effect of the changes in contract estimates on (loss) income from continuing operations	$	18.4	$	8.9	$	3.9
Favorable effect of the changes in contract estimates on net income (loss)		10.8		5.3		2.4
Favorable effect of the changes in contract estimates on basic income (loss) per share		0.18		0.09		0.04
Favorable effect of the changes in contract estimates on diluted income (loss) per share		0.13		0.09		0.04

Sales to U.S. Government and its Agencies

Sales to the U.S. government and its agencies, including sales to the Company’s significant customers discussed below, were as follows (dollars in millions):

	U.S. Government Sales		Percentage of Net Sales
Fiscal 2013	$	1,311.0		95	%
Fiscal 2012		936.9		94
Fiscal 2011		855.8		93

Customers that Represented More than 10% of Net Sales

Customers that represented more than 10% of net sales for the fiscal years presented are as follows:

	Year Ended
	2013			2012			2011
Raytheon Company (“Raytheon”)		32	%		37	%		36	%
Lockheed Martin Corporation (“Lockheed Martin”)		23			32			28
United Launch Alliance (“ULA”)		18			*			*

* Less than 10%.

Customers that Represented More than 10% of Accounts Receivable

Customers that represented more than 10% of accounts receivable for the periods presented are as follows:

	As of November 30,
	2013			2012
NASA		22	%		*
Raytheon		20			48	%
Lockheed Martin		19			31
ULA		18			*

* Less than 10%.