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Other Income (Expense), Net
 12 Months Ended
Nov. 25, 2012
Other Income and Expenses [Abstract]  
OTHER INCOME (EXPENSE), NET
OTHER INCOME (EXPENSE), NET
The following table summarizes significant components of “Other income (expense), net”:
 
 
Year Ended
 
 
 
November 25,
2012
 
November 27,
2011
 
November 28,
2010
 
 
 
(Dollars in thousands)
 
 
Foreign exchange management (losses) gains(1)
$
(9,444
)
 
$
15,310

 
$
(6,179
)
 
 
Foreign currency transaction gains (losses)(2)
8,512

 
(20,251
)
 
9,940

 
 
Interest income
1,514

 
1,618

 
2,232

 
 
Other
4,220

 
2,048

 
654

 
 
Total other income (expense), net
$
4,802

 
$
(1,275
)
 
$
6,647

 
_____________
(1)
Gains and losses on forward foreign exchange contracts primarily result from currency fluctuations relative to negotiated contract rates. Losses on forward foreign exchange contracts in 2012 primarily resulted from unfavorable currency fluctuations relative to negotiated contract rates on positions to sell the Mexican Peso. Gains in 2011 primarily resulted from favorable currency fluctuations in the fourth quarter, relative to negotiated contract rates, including the appreciation of the U.S. Dollar against various foreign currencies.
(2)
Foreign currency transaction gains and losses reflect the impact of foreign currency fluctuation on the Company's foreign currency denominated balances. Gains in 2012 were primarily due to a significant increase in Euro denominated intercompany receivables and the appreciation of the U.S. Dollar against the Japanese Yen. Losses in 2011 were primarily due to the depreciation of the U.S. Dollar, the Turkish Lira and the Polish Zloty against various foreign currencies.