Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Aug. 27, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

The changes in the carrying amount of goodwill by business segment for the nine months ended August 27, 2023 and August 28, 2022 were as follows:

	Nine Months Ended August 27, 2023
	Americas		Europe		Asia		Other Brands(1)		Total
	(Dollars in millions)
Balance, November 27, 2022	$	229.5	$	9.7	$	2.9	$	123.6	$	365.7
Additions	1.1		7.3		—		—		8.4
Impairments	—		—		—		(75.4)		(75.4)
Foreign currency fluctuation	1.7		0.4		(0.1)		—		2.0
Balance, August 27, 2023	$	232.3	$	17.4	$	2.8	$	48.2	$	300.7

	Nine Months Ended August 28, 2022
	Americas		Europe		Asia		Other Brands(1)		Total
	(Dollars in millions)
Balance, November 28, 2021	$	231.4	$	28.8	$	3.0	$	123.7	$	386.9
Impairments	—		(11.6)		—		—		(11.6)
Foreign currency fluctuation	(2.1)		(7.8)		(0.1)		—		(10.0)
Balance, August 28, 2022	$	229.3	$	9.4	$	2.9	$	123.7	$	365.3

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(1)Comprises only Beyond Yoga goodwill.

Finite-lived intangible assets

Other intangible assets, net, were as follows:

	August 27, 2023						November 27, 2022
	Gross Carrying Value		Accumulated Amortization		Total		Gross Carrying Value		Accumulated Amortization		Total
	(Dollars in millions)
Non-amortized intangible assets:
Trademarks(1)	$	243.9	$	—	$	243.9	$	258.7	$	—	$	258.7
Amortized intangible assets:
Customer relationships and other	38.5		(13.6)		24.9		37.9		(9.9)		28.0
Total	$	282.4	$	(13.6)	$	268.8	$	296.6	$	(9.9)	$	286.7

_____________

(1)Includes the gross carrying value of the Beyond Yoga trademark of $201.1 million, the Level 3 fair value as of the test date, which reflects the cumulative $14.8 million noncash impairment charge, all of which was taken in the third quarter of 2023.

Indefinite-lived intangible assets

Other intangible assets, net, were as follows:

	August 27, 2023						November 27, 2022
	Gross Carrying Value		Accumulated Amortization		Total		Gross Carrying Value		Accumulated Amortization		Total
	(Dollars in millions)
Non-amortized intangible assets:
Trademarks(1)	$	243.9	$	—	$	243.9	$	258.7	$	—	$	258.7
Amortized intangible assets:
Customer relationships and other	38.5		(13.6)		24.9		37.9		(9.9)		28.0
Total	$	282.4	$	(13.6)	$	268.8	$	296.6	$	(9.9)	$	286.7

_____________

(1)Includes the gross carrying value of the Beyond Yoga trademark of $201.1 million, the Level 3 fair value as of the test date, which reflects the cumulative $14.8 million noncash impairment charge, all of which was taken in the third quarter of 2023.

Estimated future amortization expense

Estimated amortization expense for each of the next five years is as follows:

	August 27, 2023
	(Dollars in millions)
Remaining for 2023	$	1.1
2024	4.4
2025	4.4
2026	4.1
2027	2.3
Thereafter	8.6
Total	$	24.9