Debt

6 Months Ended

May 26, 2024

Debt Disclosure [Abstract]

DEBT

DEBT 

The following table presents the Company’s debt: 

	May 26, 2024		November 26, 2023
	(Dollars in millions)
Long-term debt
3.375% senior notes due 2027	$	511.1	$	514.9
3.50% senior notes due 2031	494.9		494.5
Total long-term debt	$	1,006.0	$	1,009.4
Short-term debt
Short-term borrowings	2.4		12.5
Total debt	$	1,008.4	$	1,021.9

Senior Revolving Credit Facility

As of May 26, 2024, the Company had no borrowings under the Credit Facility. The Company’s unused availability under the Credit Facility was $791.2 million at May 26, 2024, as the total availability of $809.3 million was reduced by $18.1 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 six months ended May 26, 2024 was 4.06% and 3.98%, respectively, as compared to 4.50% and 4.19%, respectively, during the same period of 2023.