Debt

9 Months Ended

Aug. 27, 2023

Debt Disclosure [Abstract]

DEBT

DEBT 

The following table presents the Company’s debt: 

	August 27, 2023		November 27, 2022
	(Dollars in millions)
Long-term debt
Unsecured:
3.375% senior notes due 2027	$	510.2	$	490.6
3.50% senior notes due 2031	494.4		493.9
Total long-term debt	$	1,004.6	$	984.5
Short-term debt
Secured:
Senior revolving credit facility	$	25.0	$	—
Unsecured:
Short-term borrowings	14.5		11.7
Total short-term debt	39.5		11.7
Total debt	$	1,044.1	$	996.2

Senior Revolving Credit Facility

As of August 27, 2023, the Company had $25.0 million in borrowings under the Credit Facility. The Company’s unused availability under the Credit Facility was $840.9 million at August 27, 2023, as the total availability of $858.2 million was reduced by $17.3 million of letters of credit and other credit usage allocated under the Credit Facility.

Interest Rates on Borrowings

The Company’s weighted-average interest rate on average borrowings outstanding during the three and nine months ended August 27, 2023 was 4.35% and 4.24%, respectively, as compared to 3.93% and 3.92%, respectively, during the same periods of 2022.