Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Feb. 23, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Carrying values of derivative instruments and non-derivative instruments

The table below provides data about the carrying values of derivative instruments and non-derivative instruments:

	February 23, 2014								November 24, 2013
	Assets		(Liabilities)			Derivative Net Carrying Value			Assets		(Liabilities)			Derivative Net Carrying Value
	Carrying Value		Carrying Value						Carrying Value		Carrying Value
	(Dollars in thousands)
Derivatives not designated as hedging instruments
Forward foreign exchange contracts	$	12,896	$	(4,083	)	$	8,813		$	11,145	$	(4,000	)	$	7,145
Forward foreign exchange contracts	1,271		(6,881		)	(5,610		)	880		(3,215		)	(2,335		)
Total	$	14,167	$	(10,964	)				$	12,025	$	(7,215	)
Non-derivatives designated as hedging instruments
4.25% Yen-denominated Eurobonds due 2016	$	—	$	(19,556	)				$	—	$	(20,564	)
7.75% Euro senior notes due 2018	—		(411,540		)				—		(404,430		)
Total	$	—	$	(431,096	)				$	—	$	(424,994	)

Offsetting assets and liabilities

The Company's over-the-counter forward foreign exchange contracts are subject to International Swaps and Derivatives Association, Inc. master agreements. These agreements permit the net settlement of these contracts on a per-institution basis. The table below presents, by type of financial instrument, the gross amounts of the Company's derivative instruments, amounts offset due to master netting arrangements with the Company's various counterparties, and the net amounts recognized on the Company's consolidated balance sheets:

	February 23, 2014									November 24, 2013
	Gross Amounts of Recognized Assets/(Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position			Gross Amounts of Recognized Assets/(Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position
	(Dollars in thousands)
Over-the-counter forward foreign exchange contracts
Financial assets	$	11,411		$	(5,354	)	$	6,057		$	8,600		$	(4,880	)	$	3,720
Financial liabilities	(6,835		)	5,354			(1,481		)	(5,855		)	4,880			(975		)
Total							$	4,576								$	2,745
Embedded derivative contracts
Financial assets	$	2,756		$	—		$	2,756		$	3,425		$	—		$	3,425
Financial liabilities	(4,129		)	—			(4,129		)	(1,360		)	—			(1,360		)
Total							$	(1,373	)							$	2,065

Gains and losses included in AOCI

The table below provides data about the amount of gains and losses related to derivative instruments and non-derivative instruments designated as net investment hedges included in “Accumulated other comprehensive loss” (“AOCI”) on the Company’s consolidated balance sheets, and in “Other income, net” in the Company’s consolidated statements of income:

	Gain or (Loss) Recognized in AOCI (Effective Portion)						Gain or (Loss) Recognized in Other Income, net (Ineffective Portion and Amount Excluded from Effectiveness Testing)
	As of			As of			Three Months Ended
	February 23, 2014			November 24, 2013			February 23, 2014		February 24, 2013
	(Dollars in thousands)
Forward foreign exchange contracts	$	4,637		$	4,637
4.25% Yen-denominated Eurobonds due 2016	(20,944		)	(21,161		)	$	217	$	2,328
7.75% Euro senior notes due 2018	(34,471		)	(27,361		)	—		—
Cumulative income taxes	19,851			17,186
Total	$	(30,927	)	$	(26,699	)

Gains and losses included in statements of income

The table below provides data about the amount of gains and losses related to derivatives not designated as hedging instruments included in “Other income, net” in the Company’s consolidated statements of income:

	Gain or (Loss)
	Three Months Ended
	February 23, 2014			February 24, 2013
	(Dollars in thousands)
Forward foreign exchange contracts:
Realized	$	5,915		$	(2,710	)
Unrealized	(1,479		)	(109		)
Total	$	4,436		$	(2,819	)