Fair Value Measurements (Tables)

9 Months Ended

Aug. 31, 2023

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, 2023
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	154.7	$	154.7	$	—
Insurance contracts	114.6		—		114.6
Bonds and other long-term investments	2.3		2.3		—
Foreign currency derivatives	3.6		—		3.6
Cross currency contracts	23.4		—		23.4
Total	$	298.6	$	157.0	$	141.6
Liabilities
Foreign currency derivatives	$	18.9	$	—	$	18.9
Interest rate derivatives	56.3		—		56.3
Cross currency contracts	5.2		—		5.2
Total	$	80.4	$	—	$	80.4

 

			November 30, 2022
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	334.0	$	334.0	$	—
Insurance contracts	110.0		—		110.0
Bonds and other long-term investments	5.1		5.1		—
Foreign currency derivatives	11.0		—		11.0
Cross currency contracts	44.5		—		44.5
Total	$	504.6	$	339.1	$	165.5
Liabilities
Foreign currency derivatives	$	1.5	$	—	$	1.5
Interest rate derivatives	42.4		—		42.4
Cross currency contracts	8.3		—		8.3
Total	$	52.2	$	—	$	52.2

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, 2023		November 30, 2022
Carrying amount	$	4,390.1	$	3,912.9
Level 1 valuation techniques	$	3,923.0	$	3,424.8
Level 2 valuation techniques	164.4		176.1
Total fair value	$	4,087.4	$	3,600.9