Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Nov. 26, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying amount of goodwill

The changes in the carrying amount of goodwill by business segment for the years ended November 26, 2023 and November 27, 2022, were as follows:

	Americas		Europe		Asia		Other Brands(1)		Total
	(Dollars in millions)
Balance, November 28, 2021	$	231.4	$	28.8	$	3.0	$	123.7	$	386.9
Goodwill	231.4		28.8		3.0		123.7		386.9
Accumulated impairment losses	—		—		—		—		—
	$	231.4	$	28.8	$	3.0	$	123.7	$	386.9
Impairment losses	—		(11.6)		—		—		(11.6)
Adjustments	—		—		—		(0.1)		(0.1)
Foreign currency fluctuation	(1.9)		(7.5)		(0.1)		—		(9.5)
Balance, November 27, 2022
Goodwill	229.5		21.3		2.9		123.6		377.3
Accumulated impairment losses	—		(11.6)		—		—		(11.6)
	$	229.5	$	9.7	$	2.9	$	123.6	$	365.7
Impairment losses	—		—		—		(75.4)		(75.4)
Goodwill acquired during the year	1.1		10.8		—		—		11.9
Foreign currency fluctuation	1.1		0.5		(0.1)		—		1.5
Balance, November 26, 2023
Goodwill	231.7		32.6		2.8		123.6		390.7
Accumulated impairment losses	—		(11.6)		—		(75.4)		(87.0)
Balance, November 26, 2023	$	231.7	$	21.0	$	2.8	$	48.2	$	303.7

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(1)Comprised of the Beyond Yoga® reporting unit goodwill only.

Finite-lived intangible assets

Other intangible assets, net, were as follows:

	November 26, 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	38.3		(14.6)		23.7		37.9		(9.9)		28.0
Total	$	282.2	$	(14.6)	$	267.6	$	296.6	$	(9.9)	$	286.7

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(1)Includes the 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:

	November 26, 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	38.3		(14.6)		23.7		37.9		(9.9)		28.0
Total	$	282.2	$	(14.6)	$	267.6	$	296.6	$	(9.9)	$	286.7

_____________

(1)Includes the 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:

	November 26, 2023
	(Dollars in millions)
2024	$	4.4
2025	4.4
2026	4.0
2027	2.3
2028	2.3
Thereafter	6.3
Total	$	23.7