Debt

6 Months Ended

May 28, 2023

Debt Disclosure [Abstract]

DEBT

DEBT 

The following table presents the Company's debt: 

	May 28, 2023		November 27, 2022
	(Dollars in millions)
Long-term debt
Unsecured:
3.375% senior notes due 2027	$	506.0	$	490.6
3.50% senior notes due 2031	494.2		493.9
Total long-term debt	$	1,000.2	$	984.5
Short-term debt
Secured:
Senior revolving credit facility	$	125.0	$	—
Unsecured:
Short-term borrowings	11.4		11.7
Total short-term debt	136.4		11.7
Total debt	$	1,136.6	$	996.2

Senior Revolving Credit Facility

As of May 28, 2023, the Company had $125.0 million in borrowings under the Credit Facility. The Company's unused availability under the Credit Facility was $860.1 million at May 28, 2023, as the total availability of $875.0 million was reduced by $14.9 million of letters of credit and other credit usage allocated under the Credit Facility.

On June 30, 2023, subsequent to quarter end, the Company repaid $100 million of its Credit Facility.

Interest Rates on Borrowings

The Company’s weighted-average interest rate on average borrowings outstanding during the three and six months ended May 28, 2023 was 4.50% and 4.19%, respectively, as compared to 4.00% and 3.91%, respectively, during the same periods of 2022.