Other Income, Net (Tables)

9 Months Ended

Aug. 29, 2021

Other Income and Expenses [Abstract]

Schedule of other nonoperating income (expense)

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

	Three Months Ended				Nine Months Ended
	August 29, 2021		August 23, 2020		August 29, 2021		August 23, 2020
	(Dollars in thousands)
Foreign exchange management (losses) gains(1)	$	(2,401)	$	(10,712)	$	(4,128)	$	10,114
Foreign currency transaction gains (losses)(2)	4,227		(3,052)		(334)		(25,138)
Interest income	689		1,547		1,796		7,685
Investment income	533		501		2,499		1,244
Other, net	1,799		(558)		5,387		(2,174)
Total other income (expense), net	$	4,847	$	(12,274)	$	5,220	$	(8,269)

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(1)Gains and losses on forward foreign exchange contracts primarily resulted from currency fluctuations relative to negotiated contract rates. Losses in the three-month period ended August 23, 2020 were primarily due to unfavorable currency fluctuations relative to negotiated contract rates on positions to sell the Mexican Peso, Canadian Dollar and Australian Dollar. Gains in the nine-month period ended August 23, 2020 were primarily due to favorable currency fluctuations relative to negotiated contract rates on positions to sell the Euro and Mexican Peso, partially offset by an unfavorable position on 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. Losses in the three-month and nine-month periods August 23, 2020 were primarily due to the weakening of most major currencies against the U.S. dollar.