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Income Taxes (Tables)
12 Months Ended
Nov. 30, 2022
Income Tax Disclosure [Abstract]  
Provision For Income Taxes The provision for income taxes for the years ended November 30 consists of the following:
(millions)202220212020
Income taxes
Current
Federal$62.8 $71.7 $98.3 
State14.8 14.0 14.8 
International69.2 71.0 73.0 
 146.8 156.7 186.1 
Deferred
Federal37.1 23.5 4.6 
State(3.2)16.8 0.5 
International(12.1)(4.3)(16.3)
 21.8 36.0 (11.2)
Total income tax expense (benefit)$168.6 $192.7 $174.9 
Components Of Income From Consolidated Operations Before Income Taxes The components of income from consolidated operations before income taxes for the years ended November 30 follow:
(millions)202220212020
Pretax income
United States$600.7 $588.1 $624.3 
International212.1 307.7 257.2 
 $812.8 $895.8 $881.5 
Reconciliation Of The U.S. Federal Statutory Rate With The Effective Tax Rate A reconciliation of the U.S. federal statutory rate with the effective tax rate for the years ended November 30 follows:
202220212020
Federal statutory tax rate21.0 %21.0 %21.0 %
State income taxes, net of federal benefits1.2 1.6 1.5 
International tax at different effective rates(0.1)0.8 1.3 
U.S. tax on remitted and unremitted earnings0.6 0.1 0.8 
Stock compensation expense(1.1)(0.4)(1.5)
Changes in prior year tax contingencies(0.8)(2.5)(0.3)
Acquisition-related state tax rate change, net of federal benefits— 1.2 — 
Valuation allowance release(0.6)(0.5)(1.4)
Intra-entity asset transfer— — (1.1)
Other, net0.5 0.2 (0.5)
Total20.7 %21.5 %19.8 %
Schedule Of Deferred Tax Assets And Liabilities Deferred tax assets and liabilities are comprised of the following as of November 30:
(millions)20222021
Deferred tax assets
Employee benefit liabilities$49.9 $91.2 
Other accrued liabilities36.1 39.8 
Inventory17.4 12.9 
Tax loss and credit carryforwards59.7 56.6 
Lease liabilities18.1 33.3 
Other22.7 21.7 
Valuation allowance(26.4)(32.7)
 177.5 222.8 
Deferred tax liabilities
Depreciation93.0 97.5 
Intangible assets847.4 841.3 
Lease ROU assets12.3 3.3 
Other18.6 5.9 
 971.3 948.0 
Net deferred tax liability$(793.8)$(725.2)
Activity Related To Our Gross Unrecognized Tax Benefits The following table summarizes the activity related to our gross unrecognized tax benefits for the years ended November 30:
(millions)202220212020
Balance at beginning of year$26.8 $39.3 $32.0 
Additions for current year tax positions4.7 4.8 7.8 
Additions for prior year tax positions0.1 0.1 2.5 
Reductions of prior year tax positions(0.8)(11.6)— 
Statute expirations(5.0)(6.0)(4.2)
Settlements— (0.2)— 
Foreign currency translation(0.7)0.4 1.2 
Balance at November 30$25.1 $26.8 $39.3