Fair Value of Financial Instruments

3 Months Ended

Feb. 26, 2012

Fair Value of Financial Instruments [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

NOTE 2:  FAIR VALUE OF FINANCIAL INSTRUMENTS

The following table presents the Company's financial instruments that are carried at fair value:

			February 26, 2012						November 27, 2011
					Fair Value Estimated Using						Fair Value Estimated Using
					Leve1 1		Level 2				Leve1 1		Level 2
			Fair Value		Inputs (1)		Inputs (2)		Fair Value		Inputs (1)		Inputs (2)
			(Dollars in thousands)
Financial assets carried at fair value
	Rabbi trust assets		$	19,443	$	19,443	$	-	$	18,064	$	18,064	$	-
	Forward foreign exchange contracts, net (3)			12,262		-		12,262		25,992		-		25,992
		Total	$	31,705	$	19,443	$	12,262	$	44,056	$	18,064	$	25,992
Financial liabilities carried at fair value
	Forward foreign exchange contracts, net (3)		$	3,090	$	-	$	3,090	$	5,256	$	-	$	5,256
		Total	$	3,090	$	-	$	3,090	$	5,256	$	-	$	5,256

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(1) Fair values estimated using Level 1 inputs are inputs which consist of quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Rabbi trust assets consist of a diversified portfolio of equity, fixed income and other securities.

(2) Fair values estimated usingLevel 2 inputs are inputs, other than quoted prices, that are observable for the asset or liability, either directly or indirectly and include among other things, quoted prices for similar assets or liabilities in markets that are active or inactive as well as inputs other than quoted prices that are observable. For forward foreign exchange contracts, inputs include foreign currency exchange and interest rates and, where applicable, credit default swap prices.

(3)The Company's over-the-counter forward foreign exchange contracts are subject to International Swaps and Derivatives Association, Inc. master agreements. These agreements permit the net-settlement of these contracts on a per-institution basis.

	The following table presents the carrying value—including accrued interest—and estimated fair value of the Company’s
financial instruments that are carried at adjusted historical cost:
				February 26, 2012				November 27, 2011
				Carrying		Estimated		Carrying		Estimated
				Value		Fair Value (1)		Value		Fair Value (1)
				(Dollars in thousands)
Financial liabilities carried at adjusted
	historical cost
		Senior revolving credit facility		$	140,145	$	139,795	$	200,267	$	199,767
		Senior term loan due 2014			324,741		314,208		324,663		316,562
		8.875% senior notes due 2016			362,684		376,246		354,918		366,293
		4.25% Yen-denominated Eurobonds due 2016			115,595		101,491		118,618		102,508
		7.75% Euro senior notes due 2018			409,914		417,937		401,495		381,478
		7.625% senior notes due 2020			536,453		562,703		526,446		519,883
		Short-term borrowings			74,861		74,861		54,975		54,975
			Total	$	1,964,393	$	1,987,241	$	1,981,382	$	1,941,466

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• Fair value estimate incorporates mid-market price quotes.