Business Segment Information

12 Months Ended

Nov. 25, 2012

Segment Reporting [Abstract]

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION

The Company manages its business according to three regional segments: the Americas, Europe and Asia Pacific. The Company considers its chief executive officer to be the Company’s chief operating decision maker. The Company’s management, including the chief operating decision maker, manages business operations, evaluates performance and allocates resources based on the regional segments’ net revenues and operating income. The Company reports net trade receivables and inventories by segment as that information is used by the chief operating decision maker in assessing segment performance. The Company does not report its other assets by segment as that information is not used by the chief operating decision maker in assessing segment performance.

Business segment information for the Company is as follows:

	Year Ended
	November 25, 2012			November 27, 2011			November 28, 2010
	(Dollars in thousands)
Net revenues:
Americas	$	2,749,327		$	2,715,925		$	2,549,086
Europe	1,103,212			1,174,138			1,105,264
Asia Pacific	757,654			871,503			756,299
Total net revenues	$	4,610,193		$	4,761,566		$	4,410,649
Operating income:
Americas	$	431,552		$	393,906		$	402,530
Europe	178,313			182,306			163,475
Asia Pacific	66,839			108,065			86,274
Regional operating income	676,704			684,277			652,279
Corporate expenses(1)	342,725			347,884			270,918
Total operating income	333,979			336,393			381,361
Interest expense	(134,694		)	(132,043		)	(135,823		)
Loss on early extinguishment of debt	(8,206		)	(248		)	(16,587		)
Other income (expense), net	4,802			(1,275		)	6,647
Income before income taxes	$	195,881		$	202,827		$	235,598

_____________

(1) Included in corporate expenses for the year endedNovember 25, 2012, is an $18.8 million impairment charge related to the Company's decision in the third quarter to outsource distribution in Japan to a third-party and close its owned distribution center in that country.

	Year Ended
	November 25, 2012		November 27, 2011		November 28, 2010
	(Dollars in thousands)
Depreciation and amortization expense:
Americas	$	43,368	$	53,804	$	51,050
Europe	21,891		23,803		25,485
Asia Pacific	12,887		12,878		11,798
Corporate	44,462		27,308		16,563
Total depreciation and amortization expense	$	122,608	$	117,793	$	104,896

	November 25, 2012
	Americas		Europe		Asia Pacific		Unallocated		Consolidated Total
	(Dollars in thousands)
Assets:
Trade receivables, net	$	327,308	$	113,405	$	40,996	$	18,963	$	500,672
Inventories	270,019		126,018		96,969		25,854		518,860
All other assets	—		—		—		2,150,545		2,150,545
Total assets									$	3,170,077

	November 27, 2011
	Americas		Europe		Asia Pacific		Unallocated		Consolidated Total
	(Dollars in thousands)
Assets:
Trade receivables, net	$	404,401	$	164,077	$	66,779	$	19,646	$	654,903
Inventories	332,955		141,764		130,953		5,730		611,402
All other assets	—		—		—		2,013,250		2,013,250
Total assets									$	3,279,555

Geographic information for the Company was as follows:

	Year Ended
	November 25, 2012		November 27, 2011		November 28, 2010
	(Dollars in thousands)
Net revenues:
United States	$	2,412,647	$	2,380,096	$	2,248,340
Foreign countries	2,197,546		2,381,470		2,162,309
Total net revenues	$	4,610,193	$	4,761,566	$	4,410,649

Deferred tax assets:
United States	$	647,767	$	643,767	$	646,050
Foreign countries	81,373		68,938		50,895
Total deferred tax assets	$	729,140	$	712,705	$	696,945

Long-lived assets:
United States	$	353,567	$	365,907	$	337,592
Foreign countries	123,977		152,874		169,557
Total long-lived assets	$	477,544	$	518,781	$	507,149