Business Segment Information

3 Months Ended

Feb. 23, 2020

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 23, 2020			February 24, 2019
	(Dollars in thousands)
Net revenues:
Americas	$	745,580		$	717,264
Europe	512,943			464,676
Asia	247,603			252,518
Total net revenues	$	1,506,126		$	1,434,458
Operating income:
Americas	$	124,039		$	123,656
Europe	132,436			121,624
Asia	32,668			42,965
Regional operating income	289,143			288,245
Corporate expenses	110,361			87,333
Total operating income	178,782			200,912
Interest expense	(16,654		)	(17,544		)
Other income (expense), net	2,700			(1,646		)
Income before income taxes	$	164,828		$	181,722