Income Taxes (Tables)

12 Months Ended

Nov. 30, 2013

Income Tax Disclosure [Abstract]

Components of Company's Income Tax (Benefit) Provision from Continuing Operations

The components of the Company’s income tax (benefit) provision from continuing operations are as follows:

	Year Ended
	2013			2012		2011
	(In millions)
Current
U.S. federal	$	(1.4	)	$	10.9	$	2.0
State and local		1.0			3.8		4.2
		(0.4	)		14.7		6.2
Deferred
U.S. federal		(143.4	)		3.2		(0.4	)
State and local		(50.1	)		1.0		0.3
		(193.5	)		4.2		(0.1	)
Income tax (benefit) provision	$	(193.9	)	$	18.9	$	6.1

Effective Income Tax Rate on Earnings from Continuing Operations

A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate on earnings from continuing operations is as follows:

	Year Ended
	2013			2012			2011
Statutory U.S. federal income tax rate		(35.0	)%		35.0	%		35.0	%
State and local income taxes, net of U.S. federal income tax effect		(7.4	)		20.4			29.9
Changes in state income tax rates		(29.2	)		—			—
Tax settlements and refund claims, including interest		—			—			3.5
Reserve adjustments		5.6			21.5			0.8
Valuation allowance adjustments		(680.8	)		98.4			(44.0	)
Rescindable common stock interest and realized (gains) losses		(1.4	)		1.7			3.3
Non-deductible convertible subordinated notes interest		17.3			21.5			31.6
Deferred net operating loss to additional paid in capital		—			23.0			2.1
Research credits		(4.7	)		(75.3	)		—
Retroactive change in federal tax law		(5.3	)		—			—
Benefit of manufacturing deductions		—			(9.5	)		—
Other, net		0.8			6.5			5.3
Effective income tax rate		(740.1	)%		143.2	%		67.5	%

Reconciliation of Change in Unrecognized Tax Benefits

A reconciliation of the change in unrecognized tax benefits from December 1, 2010 is as follows (in millions):

Unrecognized tax benefits at November 30, 2010	$	4.8
Gross increases for tax positions taken during the year		0.1
Gross decreases for tax positions taken in prior year		(0.4	)
Unrecognized tax benefits at November 30, 2011		4.5
Gross increases for tax positions taken during the year		0.2
Gross increases for tax positions taken in the prior year		0.3
Gross decreases for tax positions taken in prior year		(0.1	)
Unrecognized tax benefits at November 30, 2012		4.9
Gross increases for tax positions taken during the year		0.2
Gross increases for tax positions taken in the prior year		2.3
Expiration of statutes of limitation		(0.9	)
Unrecognized tax benefits at November 30, 2013	$	6.5

Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities are as follows:

	As of November 30,
	2013			2012
	(In millions)
Deferred Tax Assets
Accrued estimated costs	$	91.4		$	68.1
Basis difference in assets and liabilities		23.0			30.1
Tax losses and credit carryforwards		32.4			24.9
Net cumulative defined benefit pension plan losses		107.4			175.5
Retiree medical and life insurance benefits		27.4			30.1
Valuation allowance		(2.6	)		(288.1	)
Total deferred tax assets		279.0			40.6
Deferred Tax Liabilities
U.S. federal effect of state deferred taxes		12.6			10.6
Revenue recognition differences		53.4			26.1
Basis differences in intangible assets		20.3			15.5
Total deferred tax liabilities		86.3			52.2
Total net deferred tax assets (liabilities)	$	192.7		$	(11.6	)

Year of Expiration for Company's Federal and State Net Operating Loss Carryforwards

The year of expiration for the Company’s federal and state net operating loss carryforwards as of November 30, 2013 is as follows (in millions):

	Federal		State
2015	$	—	$	24.7
2016		—		28.9
2017		—		29.9
2018		—		48.3
2019		—		105.6
2033		9.2		—
	$	9.2	$	237.4