XML 75 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Nov. 24, 2013
Nov. 25, 2012
Nov. 27, 2011
Cash Flows from Operating Activities:      
Net income $ 228,136 $ 140,959 $ 135,112
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 115,720 122,608 117,793
Asset impairments 8,330 27,031 5,777
Gain on disposal of property, plant and equipment (2,112) (351) (2)
Unrealized foreign exchange (gains) losses 4,573 (3,146) (5,932)
Realized (gain) loss on settlement of forward foreign exchange contracts not designated for hedge accounting 2,904 (8,508) 9,548
Employee benefit plans' amortization from accumulated other comprehensive loss 22,686 1,412 (8,627)
Employee benefit plans' curtailment (gain) loss, net (564) (2,391) 129
Noncash (gain) loss on extinguishment of debt, net of write-off of unamortized debt issuance costs 689 (3,643) 226
Amortization of deferred debt issuance costs 4,331 4,323 4,345
Stock-based compensation 8,249 5,965 8,439
Allowance for doubtful accounts 1,158 5,024 4,634
Deferred income taxes 37,520 19,853 16,153
Change in operating assets and liabilities:      
Trade receivables 65,955 145,717 (116,003)
Inventories (63,920) 87,547 (6,848)
Other current assets 32,808 34,384 (39,231)
Other non-current assets 10,081 1,019 4,780
Accounts payable and other accrued liabilities 3,107 46,578 (55,300)
Income tax liabilities (24,042) (27,811) (15,242)
Accrued salaries, wages and employee benefits and long-term employee related benefits (51,974) (74,140) (55,846)
Other long-term liabilities 8,618 7,995 (2,358)
Other, net (985) 551 301
Net cash provided by operating activities 411,268 530,976 1,848
Cash Flows from Investing Activities:      
Purchases of property, plant and equipment (91,771) (83,855) (130,580)
Proceeds from sale of property, plant and equipment 2,277 640 171
Proceeds (payments) on settlement of forward foreign exchange contracts not designated for hedge accounting (2,904) 8,508 (9,548)
Acquisitions, net of cash acquired (400) (491) 0
Other 0 0 (1,000)
Net cash used for investing activities (92,798) (75,198) (140,957)
Cash Flows from Financing Activities:      
Proceeds from issuance of long-term debt 140,000 385,000 0
Repayments of long-term debt and capital leases (327,281) (407,963) (1,848)
Proceeds from senior revolving credit facility 0 50,000 305,000
Repayments of senior revolving credit facility 0 (250,000) (213,250)
Proceeds from Lines of Credit 46,187 121,200 78,137
Repayments of Lines of Credit (53,726) (124,517) (67,402)
Short-term borrowings, net (3,711) 2,623 8,692
Debt issuance costs (2,557) (7,376) (7,307)
Restricted cash (139) 565 (3,803)
Repurchase of common stock (5,744) (603) (489)
Excess tax benefits from stock-based compensation 1,538 168 0
Dividend to stockholders (25,076) (20,036) (20,023)
Net cash (used for) provided by financing activities (230,509) (250,939) 77,707
Effect of exchange rate changes on cash and cash equivalents (4,837) (3,247) (3,782)
Net increase (decrease) in cash and cash equivalents 83,124 201,592 (65,184)
Beginning cash and cash equivalents 406,134 204,542  
Ending cash and cash equivalents 489,258 406,134 204,542
Cash paid during the period for:      
Interest 121,827 128,718 129,079
Income taxes $ 47,350 $ 49,346 $ 56,229