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Derivative Instruments and Hedging Activities (Tables)
 12 Months Ended
Nov. 26, 2017
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:
 
November 26, 2017
 
November 27, 2016
 
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(1)
$
3,403

 
$
(253
)
 
$
3,150

 
$
30,160

 
$
(6,893
)
 
$
23,267

Forward foreign exchange contracts(2)
2,893

 
(23,546
)
 
(20,653
)
 
1,481

 
(7,014
)
 
(5,533
)
Total
$
6,296

 
$
(23,799
)
 
 
 
$
31,641

 
$
(13,907
)
 
 
Non-derivatives designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
Euro senior notes

$
—

 
$
(562,780
)
 
 
 
$
—

 
$
—

 
 

_____________
(1)
Included in "Other current assets" or "Other non-current assets" on the Company’s consolidated balance sheets.
(2)
Included in "Other accrued liabilities" or "Other long-term liabilities" on the Company’s consolidated balance sheets.
The table below presents the gross and net amounts of these contracts recognized on the Company's consolidated balance sheets by type of financial instrument:
 
 
November 26, 2017
 
November 27, 2016
 
 
Gross Amounts of Recognized Assets / (Liabilities)
 
Gross Amounts Offset in the Balance Sheet
 
Net Amount of Assets / (Liabilities) Presented in the Balance Sheet
Gross Amounts of Recognized Assets / (Liabilities)
 
Gross Amounts Offset in the Balance Sheet
 
Net Amount of Assets / (Liabilities) Presented in the Balance Sheet
 
 
 
(Dollars in thousands)
 
Over-the-counter forward foreign exchange contracts
 
 
 
 
 
 
 
 
 
 
 
 
Financial assets
$
3,218

 
$
(3,146
)
 
$
72

 
$
29,240

 
$
(8,374
)
 
$
20,866

 
Financial liabilities
(20,876
)
 
3,146

 
(17,730
)
 
(10,365
)
 
8,374

 
(1,991
)
 
Total
 
 
 
 
$
(17,658
)
 
 
 
 
 
$
18,875

 
Embedded derivative contracts
 
 
 
 
 
 
 
 
 
 
 
 
Financial assets
$
3,078

 
$
—

 
$
3,078

 
$
2,401

 
$
—

 
$
2,401

 
Financial liabilities
(2,923
)
 
—

 
(2,923
)
 
(3,542
)
 
—

 
(3,542
)
 
Total
 
 
 
 
$
155

 
 
 
 
 
$
(1,141
)
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 (expense), net" in the Company’s consolidated statements of income:
 
Gain or (Loss)
Recognized in AOCI
(Effective Portion)
 
Gain or (Loss) Recognized in Other Income (Expense), Net (Ineffective Portion and Amount Excluded from Effectiveness Testing)
 
As of
 
As of
 
Year Ended
November 26,
2017
November 27,
2016
November 26,
2017
 
November 27,
2016
 
November 29,
2015
 
(Dollars in thousands)
Forward foreign exchange contracts
$
4,637

 
$
4,637

 


 


 


Yen-denominated Eurobonds
(19,811
)
 
(19,811
)
 
$
—

 
$
2,627

 
$
965

Euro-denominated senior notes
(75,697
)
 
(15,751
)
 
—

 
—

 
—

Cumulative income taxes
35,253

 
12,168

 


 
 
 
 
Total
$
(55,618
)
 
$
(18,757
)
 
 
 
 
 
 
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 (expense), net" in the Company’s consolidated statements of income:
 
Year Ended
 
November 26,
2017
 
November 27,
2016
 
November 29,
2015
 
(Dollars in thousands)
Forward foreign exchange contracts:
 
 
 
 
 
Realized (loss) gain
$
(5,773
)
 
$
17,175

 
$
14,720

Unrealized loss (1)
(35,394
)
 
(1,315
)
 
19,386

Total
$
(41,167
)
 
$
15,860

 
$
34,106

_____________
(1)
The unrealized loss in 2017 is primarily driven by losses on contracts to sell the Mexican Peso, the Euro and the British Pound, as a result of the USD weakening at year end.