Business Segment Information

3 Months Ended

Feb. 24, 2019

The Company manages its business according to three regional segments: the Americas, Europe and Asia. The Company considers its chief executive officer to be the Company’s chief operating decision maker. The Company’s chief operating decision maker manages business operations, evaluates performance and allocates resources based on the regional segments’ net revenues and operating income.

Business segment information for the Company is as follows:



	Three Months Ended
	February 24, 2019			February 25, 2018
	(Dollars in thousands)
Net revenues:
Americas	$	717,264		$	657,197
Europe	464,676			452,722
Asia	252,518			233,766
Total net revenues	$	1,434,458		$	1,343,685
Operating income:
Americas	$	123,656		$	111,245
Europe	121,624			115,286
Asia	42,965			40,709
Regional operating income	288,245			267,240
Corporate expenses	87,333			92,318
Total operating income	200,912			174,922
Interest expense	(17,544		)	(15,497		)
Other income (expense), net	(1,646		)	(10,400		)
Income before income taxes	$	181,722		$	149,025

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(1)	The amounts in Corporate expenses and Other expense, net have been conformed to reflect the adoption of ASU 2017-07, "Compensation-Retirement Benefits (Topic 715) Improving the Presentation of Net Periodic Cost and Net Periodic Postretirement Benefit Cost" and include non-service cost component of net periodic benefit costs. Refer to Note 1 for more information.