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Business Segment Information (Tables)
12 Months Ended
Nov. 29, 2015
Segment Reporting [Abstract]  
Reconciliation of operating profit (loss)
Business segment information for the Company is as follows:
 
 
Year Ended
 
 
 
November 29,
2015
 
November 30,
2014
 
November 24,
2013
 
 
 
(Dollars in thousands)
 
 
Net revenues:
 
 
 
 
 
 
 
Americas
$
2,726,461

 
$
2,862,867

 
$
2,851,037

 
 
Europe
1,016,418

 
1,143,313

 
1,103,487

 
 
Asia
751,614

 
747,812

 
727,167

 
 
Total net revenues
$
4,494,493

 
$
4,753,992

 
$
4,681,691

 
 
Operating income:
 
 
 
 
 
 
 
Americas
$
523,705

 
$
531,064

 
$
510,496

 
 
Europe(1)
184,362

 
181,036

 
167,605

 
 
Asia
121,645

 
108,511

 
123,723

 
 
Regional operating income
829,712

 
820,611

 
801,824

 
 
Corporate:
 
 
 
 
 
 
 
Restructuring, net
14,071

 
128,425

 

 
 
Restructuring-related charges
30,736

 
27,621

 

 
 
Lump-sum pension settlement loss

 
30,666

 

 
 
Other corporate staff costs and expenses
353,858

 
320,048

 
336,317

 
 
Corporate expenses
398,665

 
506,760

 
336,317

 
 
Total operating income
431,047

 
313,851

 
465,507

 
 
Interest expense
(81,214
)
 
(117,597
)
 
(129,024
)
 
 
Loss on early extinguishment of debt
(14,002
)
 
(20,343
)
 
(689
)
 
 
Other income (expense), net
(25,433
)
 
(22,057
)
 
(13,181
)
 
 
Income before income taxes
$
310,398

 
$
153,854

 
$
322,613

 
_____________
(1)
Included in Europe's operating income for the year ended November 29, 2015, is a gain of $7.5 million related to the sale of the Company's finishing and distribution facility in Turkey in the second quarter of 2015.
Reconciliation of assets
 
 
November 29, 2015
 
 
 
Americas
 
Europe
 
Asia
 
Unallocated
 
Consolidated Total
 
 
 
(Dollars in thousands)
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Trade receivables, net
$
343,808

 
$
81,079

 
$
53,613

 
$
19,696

 
$
498,196

 
 
Inventories
359,879

 
109,604

 
91,390

 
45,986

 
606,859

 
 
All other assets

 

 

 
1,779,340

 
1,779,340

 
 
Total assets
 
 
 
 
 
 
 
 
$
2,884,395

 
 
 
November 30, 2014
 
 
 
Americas
 
Europe
 
Asia
 
Unallocated
 
Consolidated Total
 
 
 
(Dollars in thousands)
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Trade receivables, net
$
322,501

 
$
93,604

 
$
48,468

 
$
17,408

 
$
481,981

 
 
Inventories
289,838

 
143,990

 
101,477

 
65,611

 
600,916

 
 
All other assets

 

 

 
1,824,004

 
1,824,004

 
 
Total assets
 
 
 
 
 
 
 
 
$
2,906,901

 
Reconciliation of revenue
Geographic information for the Company was as follows:
 
 
Year Ended
 
 
 
November 29, 2015
 
November 30, 2014
 
November 24, 2013
 
 
 
(Dollars in thousands)
 
 
Net revenues:
 
 
 
 
 
 
 
United States
$
2,380,820

 
$
2,490,994

 
$
2,497,756

 
 
Foreign countries
2,113,673

 
2,262,998

 
2,183,935

 
 
Total net revenues
$
4,494,493

 
$
4,753,992

 
$
4,681,691

 
Reconciliation of other significant reconciling items
 
 
Year Ended
 
 
 
November 29, 2015
 
November 30, 2014
 
November 24, 2013
 
 
 
(Dollars in thousands)
 
 
Depreciation and amortization expense:
 
 
 
 
 
 
 
Americas
$
27,558

 
$
29,508

 
$
37,520

 
 
Europe
14,985

 
20,564

 
20,597

 
 
Asia
7,455

 
8,501

 
9,422

 
 
Corporate
52,046

 
50,901

 
48,181

 
 
Total depreciation and amortization expense
$
102,044

 
$
109,474

 
$
115,720

 
 
Net deferred tax assets:
 
 
 
 
 
 
 
United States
$
506,635

 
$
580,122

 
$
567,984

 
 
Foreign countries
72,675

 
80,742

 
66,121

 
 
Total net deferred tax assets
$
579,310

 
$
660,864

 
$
634,105

 

 
Long-lived assets:
 
 
 
 
 
 
 
United States
$
322,758

 
$
322,329

 
$
346,533

 
 
Foreign countries
89,062

 
84,507

 
110,387

 
 
Total long-lived assets
$
411,820

 
$
406,836

 
$
456,920