Debt (Tables)

6 Months Ended

May 31, 2024

Debt Disclosure [Abstract]

Schedule of Debt

			May 31,		November 30,
(in millions)	Maturity	Rate (a) (b)	2024		2023
Secured Subsidiary Guaranteed
Notes
Notes	Jun 2027	7.9%	$	192	$	192
Notes (c)	Aug 2027	9.9%	—		623
Notes	Aug 2028	4.0%	2,406		2,406
Notes	Aug 2029	7.0%	500		500
Loans
EUR floating rate (c)	Jun 2025	EURIBOR + 3.8%	—		851
Floating rate	Aug 2027 - Oct 2028	SOFR + 2.8% (d)	2,749		3,567
Total Secured Subsidiary Guaranteed			5,847		8,138
Senior Priority Subsidiary Guaranteed
Notes	May 2028	10.4%	2,030		2,030
Unsecured Subsidiary Guaranteed
Notes
Convertible Notes	Oct 2024	5.8%	426		426
Notes	Mar 2026	7.6%	1,351		1,351
EUR Notes (c)	Mar 2026	7.6%	—		550
Notes (c)	Mar 2027	5.8%	2,725		3,100
Convertible Notes	Dec 2027	5.8%	1,131		1,131
Notes	May 2029	6.0%	2,000		2,000
EUR Notes	Jan 2030	5.8%	540		—
Notes	Jun 2030	10.5%	1,000		1,000
Loans
EUR floating rate (e)	Apr 2025 - Mar 2026	EURIBOR + 2.4 - 3.3%	576		678
Export Credit Facilities
Floating rate	Dec 2031	SOFR + 1.2% (f)	549		583
Fixed rate	Aug 2027 - Dec 2032	2.4 - 3.4%	2,563		2,756
EUR floating rate	Mar 2025 - Nov 2034	EURIBOR + 0.2 - 0.8%	2,835		3,086
EUR fixed rate	Feb 2031 - Jul 2037	1.1 - 4.0%	5,734		3,652
Total Unsecured Subsidiary Guaranteed			21,429		20,312
Unsecured Notes (No Subsidiary Guarantee)
Notes	Jan 2028	6.7%	200		200
EUR Notes	Oct 2029	1.0%	648		659
Total Unsecured Notes (No Subsidiary Guarantee)			848		859
Total Debt			30,154		31,339
Less: unamortized debt issuance costs and discounts			(820)		(768)
Total Debt, net of unamortized debt issuance costs and discounts			29,334		30,572
Less: current portion of long-term debt			(2,181)		(2,089)
Long-Term Debt			$	27,154	$	28,483

(a)The reference rates, together with any applicable credit adjustment spread, for substantially all of our variable debt have 0.0% to 0.75% floors.

(b)The above debt table excludes the impact of any outstanding derivative contracts.

(c)See “Debt Prepayments” below.

(d)As part of the repricing of our senior secured term loans, we amended the loans’ margin from 3.0% – 3.4% (inclusive of credit adjustment spread) to 2.8%. See “Repricing of senior secured term loans” below.

(e)The maturity of the principal amount of $216 million was extended from April 2024 to April 2025.

(f)Includes applicable credit adjustment spread.

Schedule of Annual Maturities of Debt

As of May 31, 2024, the scheduled maturities of our debt are as follows:

(in millions)
Year	Principal Payments
Remainder of 2024	$	1,195
2025	1,744
2026	2,790
2027	5,212
2028	8,741
Thereafter	10,472
Total	$	30,154