Other Income, Net (Tables)

6 Months Ended

May 29, 2022

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				Six Months Ended
	May 29, 2022		May 30, 2021		May 29, 2022		May 30, 2021
	(Dollars in thousands)
Foreign exchange management losses(1)	$	(7,526)	$	(2,094)	$	(5,205)	$	(1,727)
Foreign currency transaction gains (losses)(2)	8,707		(1,326)		6,496		(4,561)
COVID-19 government subsidy gain(3)	—		—		12,524		—
Other, net	4,823		2,705		8,086		6,661
Total other income (expense), net	$	6,004	$	(715)	$	21,901	$	373

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(1)Losses on forward foreign exchange contracts primarily resulted from currency fluctuations relative to negotiated contract rates.

(2)Foreign currency transaction gains (losses) reflect the impact of foreign currency fluctuation on the Company's foreign currency denominated balances.

(3)COVID-19 government subsidy gain reflects a payment received from the German government as reimbursement for COVID-19 losses incurred in prior years.