Other Income, Net (Tables)

6 Months Ended

May 30, 2021

Other Income and Expenses [Abstract]

Schedule of other nonoperating income (expense)

The following table summarizes significant components of "Other (expense) income, net": 

	Three Months Ended				Six Months Ended
	May 30, 2021		May 24, 2020		May 30, 2021		May 24, 2020
	(Dollars in thousands)
Foreign exchange management (losses) gains (1)	$	(2,094)	$	22,547	$	(1,727)	$	20,826
Foreign currency transaction losses (2)	(1,326)		(22,780)		(4,561)		(22,086)
Interest income	398		1,927		1,106		6,138
Investment income	2		2		1,966		743
Other, net	2,305		(391)		3,589		(1,616)
Total other (expense) income, net	$	(715)	$	1,305	$	373	$	4,005

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(1)Gains and losses on forward foreign exchange contracts primarily resulted from currency fluctuations relative to negotiated contract rates. Gains in the three-month and six-month periods ended May 24, 2020 were primarily due to favorable currency fluctuations relative to negotiated contract rates on positions to sell the Mexican Peso, Euro and Canadian Dollar.

(2)Foreign currency transaction losses reflect the impact of foreign currency fluctuation on the Company's foreign currency denominated balances. Losses in the three-month and six-month periods ended May 24, 2020 were primarily due to the weakening of most major currencies against the U.S. dollar.