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Other Income (Expense), Net
12 Months Ended
Nov. 24, 2019
Other Income and Expenses [Abstract]  
OTHER INCOME (EXPENSE), NET
OTHER INCOME (EXPENSE), NET
The following table summarizes significant components of "Other income (expense), net":
 
Year Ended
 
November 24,
2019
 
November 25,
2018
 
November 26,
2017
 
(Dollars in thousands)
Foreign exchange management gains (losses)(1)
$
126

 
$
11,167

 
$
(41,167
)
Foreign currency transaction (losses) gains(2)
(6,231
)
 
(7,498
)
 
7,853

Interest income
17,190

 
9,400

 
3,380

Investment income
1,509

 
734

 
629

Other(3)
(10,577
)
 
1,104

 
(10,585
)
Total other income (expense), net(3)
$
2,017

 
$
14,907

 
$
(39,890
)
_____________
(1)
Gains and losses on forward foreign exchange contracts primarily result from currency fluctuations relative to negotiated contract rates. Gains in 2018 were primarily due to favorable currency fluctuations relative to negotiated contract rates on positions to sell the Euro and the British Pound. Losses in 2017 were primarily due to unfavorable currency fluctuations relative to negotiated contract rates on positions to sell the Mexican Peso, the Euro and the British Pound.
(2)
Foreign currency transaction gains and losses reflect the impact of foreign currency fluctuation on the Company's foreign currency denominated balances. Gains in 2017 were primarily due to the strengthening of the Mexican Peso and Euro against the US dollar.
(3)
The amounts in Other income (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. The 2018 gain in Other is due to pension benefits yielding a higher expected return on assets and lower interest cost.