Other Income, Net (Tables)

12 Months Ended

Nov. 28, 2021

Other Income and Expenses [Abstract]

Schedule of other nonoperating income (expense)

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

	Year Ended
	November 28, 2021		November 29, 2020		November 24, 2019
	(Dollars in thousands)
Foreign exchange management (losses) gains(1)	$	(14,801)	$	2,299	$	126
Foreign currency transaction gains (losses)(2)	5,859		(18,057)		(6,231)
Interest income	2,542		8,390		17,190
Investment income	2,499		1,243		1,509
Pension settlement losses(3)	—		(14,737)		—
Other	7,353		(1,612)		(10,577)
Total other income (expense), net	$	3,452	$	(22,474)	$	2,017

_____________

(1)Gains and losses on forward foreign exchange contracts primarily result from currency fluctuations relative to negotiated contract rates. Losses in fiscal year 2021 were primarily due to unfavorable currency fluctuations relative to negotiated contract rates on positions to sell the Euro and the Canadian Dollar.

(2)Foreign currency transaction gains and losses reflect the impact of foreign currency fluctuation on the Company's foreign currency denominated balances. Losses in fiscal year 2020 were primarily due to the U.S. dollar weakening against most currencies during the year.

(3)Pension settlement losses relate to the voluntary lump-sum, cash-out program offered to vested deferred U.S. pension plan participants. See Note 10 for further information.