Accumulated Other Comprehensive Loss

9 Months Ended

Aug. 27, 2023

The following is a summary of the components of "Accumulated other comprehensive loss," net of related income taxes:


	Three Months Ended August 27, 2023
	Pension and Postretirement Benefits(1)		Translation Adjustments				Unrealized (Loss) Gain on Marketable Securities(1)
			Derivative Instruments(2)		Foreign Currency Translation				Total

	(Dollars in millions)
Accumulated other comprehensive loss at May 28, 2023	$	(176.0)	$	(33.7)	$	(212.0)	$	—	$	(421.7)
Other comprehensive (loss) income before reclassifications	(7.0)		(7.9)		20.7		—		5.8
Amounts reclassified from accumulated other comprehensive loss	21.1		(3.3)		—		—		17.8
Net increase (decrease) in other comprehensive (loss) income	14.1		(11.2)		20.7		—		23.6

Accumulated other comprehensive loss at August 27, 2023	$	(161.9)	$	(44.9)	$	(191.3)	$	—	$	(398.1)


	Nine Months Ended August 27, 2023
	Pension and Postretirement Benefits(1)		Translation Adjustments				Unrealized (Loss) Gain on Marketable Securities(1)
			Derivative Instruments(2)		Foreign Currency Translation				Total

	(Dollars in millions)
Accumulated other comprehensive loss at November 27, 2022	$	(179.5)	$	7.2	$	(248.7)	$	(0.7)	$	(421.7)
Other comprehensive (loss) income before reclassifications	(8.1)		(24.0)		57.4		0.1		25.4
Amounts reclassified from accumulated other comprehensive (loss) income	25.7		(28.1)		—		0.6		(1.8)
Net increase (decrease) in other comprehensive (loss) income	17.6		(52.1)		57.4		0.7		23.6

Accumulated other comprehensive loss at August 27, 2023	$	(161.9)	$	(44.9)	$	(191.3)	$	—	$	(398.1)

____________

(1)Amounts reclassified were recorded in other (expense) income, net, primarily as a result of noncash pension settlement charge. For more information, refer to Note 8.

(2)Amounts reclassified were recorded within net revenues and cost of goods sold. For more information, refer to Note 5.


	Three Months Ended August 28, 2022
	Pension and Postretirement Benefits(1)		Translation Adjustments				Unrealized Gain (Loss) on Marketable Securities(1)
			Derivative Instruments(2)		Foreign Currency Translation				Total

	(Dollars in millions)
Accumulated other comprehensive loss at May 29, 2022	$	(192.3)	$	2.9	$	(215.5)	$	10.7	$	(394.2)
Other comprehensive (loss) income before reclassifications	(0.6)		42.0		(50.3)		(2.2)		(11.1)
Amounts reclassified from accumulated other comprehensive loss	2.2		(6.2)		—		—		(4.0)
Net increase (decrease) in other comprehensive (loss) income	1.6		35.8		(50.3)		(2.2)		(15.1)

Accumulated other comprehensive loss at August 28, 2022	$	(190.7)	$	38.7	$	(265.8)	$	8.5	$	(409.3)


	Nine Months Ended August 28, 2022
	Pension and Postretirement Benefits(1)		Translation Adjustments				Unrealized Gain (Loss) on Marketable Securities(1)
			Derivative Instruments(2)		Foreign Currency Translation				Total

	(Dollars in millions)
Accumulated other comprehensive loss at November 28, 2021	$	(195.5)	$	(20.9)	$	(196.8)	$	18.8	$	(394.4)
Other comprehensive (loss) income before reclassifications	(1.6)		69.4		(69.0)		(10.3)		(11.5)
Amounts reclassified from accumulated other comprehensive loss	6.4		(9.8)		—		—		(3.4)
Net increase (decrease) in other comprehensive (loss) income	4.8		59.6		(69.0)		(10.3)		(14.9)

Accumulated other comprehensive loss at August 28, 2022	$	(190.7)	$	38.7	$	(265.8)	$	8.5	$	(409.3)

_____________

(1)Amounts reclassified were recorded in other (expense) income, net.

(2)Amounts reclassified were recorded within net revenues and cost of goods sold. For more information, refer to Note 5.