Fair Value Measurements (Tables)

9 Months Ended

Aug. 31, 2022

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on recurring basis

Our population of financial assets and liabilities subject to fair value measurements on a recurring basis are as follows (in millions):

			August 31, 2022
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	343.9	$	343.9	$	—
Insurance contracts	109.1		—		109.1
Bonds and other long-term investments	6.8		6.8		—
Foreign currency derivatives	14.9		—		14.9
Cross currency contracts	57.5		—		57.5
Total	$	532.2	$	350.7	$	181.5
Liabilities
Foreign currency derivatives	$	2.3	$	—	$	2.3
Interest rate derivatives	30.8		—		30.8
Cross currency contracts	7.7		—		7.7
Total	$	40.8	$	—	$	40.8

 

			November 30, 2021
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	351.7	$	351.7	$	—
Insurance contracts	132.2		—		132.2
Bonds and other long-term investments	5.1		5.1		—
Interest rate derivatives	23.1		—		23.1
Foreign currency derivatives	8.3		—		8.3
Cross currency contracts	4.4		—		4.4
Total	$	524.8	$	356.8	$	168.0
Liabilities
Foreign currency derivatives	$	2.8	$	—	$	2.8
Cross currency contracts	8.0		—		8.0
Total	$	10.8	$	—	$	10.8

Fair Value, by Balance Sheet Grouping

The following table sets forth the carrying amounts and fair values of our long-term debt including the current portion thereof (in millions):

	August 31, 2022		November 30, 2021
Carrying amount	$	3,925.4	$	4,743.6
Level 1 valuation techniques	$	3,496.2	$	4,722.3
Level 2 valuation techniques	178.9		199.2
Total fair value	$	3,675.1	$	4,921.5