Business Segment Information

3 Months Ended

12 Months Ended

Feb. 26, 2012

Nov. 27, 2011

Business Segment Information [Abstract]

BUSINESS SEGMENT INFORMATION

NOTE 11:    BUSINESS SEGMENT INFORMATION

The Company manages its business according to three regional segments, the Americas, Europe and Asia Pacific. The Company considers its chief executive officer to be the Company’s chief operating decision maker. The Company’s management, including the chief operating decision maker, manages business operations, evaluates performance and allocates resources based on the regional segments’ net revenues and operating income. On February 16, 2012, the Company announced organizational changes appointing Anne Rohosy to lead the Company’s commercial operations for the Americas and Europe, and formalizing Aaron Boey’s leadership of commercial operations for Asia Pacific. Both Ms. Rohosy and Mr. Boey report directly to the Company’s chief operating decision maker.

Business segment information for the Company is as follows:

	Three Months Ended
	February 26, 2012			February 27, 2011
	(Dollars in thousands)
Net revenues:
Americas	$	647,294		$	592,186
Europe		289,452			311,604
Asia Pacific		228,215			216,903
Total net revenues	$	1,164,961		$	1,120,693
Operating income:
Americas	$	79,636		$	75,033
Europe		52,073			71,291
Asia Pacific		41,160			37,363
Regional operating income		172,869			183,687
Corporate expenses		62,658			84,813
Total operating income		110,211			98,874
Interest expense		(38,573	)		(34,866	)
Other income (expense), net		1,172			(5,959	)
Income before income taxes	$	72,810		$	58,049

NOTE 19:     BUSINESS SEGMENT INFORMATION

The Company manages its business according to three regional segments, the Americas, Europe and Asia Pacific. The Company considers its chief executive officer to be the Company’s chief operating decision maker. The Company’s management, including the chief operating decision maker, manages business operations, evaluates performance and allocates resources based on the regional segments’ net revenues and operating income. The Company reports net trade receivables and inventories by segment as that information is used by the chief operating decision maker in assessing segment performance. The Company does not report its other assets by segment as that information is not used by the chief operating decision maker in assessing segment performance.

In each of 2010 and 2011, accountability for information technology, human resources, advertising and promotion, and marketing staff costs of a global nature, that in prior years had been captured in the Company’s geographic regions, was centralized under corporate management. Subsequent to these changes, these costs were classified as corporate expenses. These costs were not significant to any of the Company’s regional segments individually in any of the periods presented herein, and accordingly business segment information for prior years has not been revised.

Business segment information for the Company was as follows:

	Year Ended
	November 27, 2011			November 28, 2010			November 29, 2009
	(Dollars in thousands)
Net revenues:
Americas	$	2,715,925		$	2,549,086		$	2,357,662
Europe		1,174,138			1,105,264			1,042,131
Asia Pacific		871,503			756,299			705,973
Total net revenues	$	4,761,566		$	4,410,649		$	4,105,766
Operating income:
Americas	$	393,906		$	402,530		$	346,329
Europe		182,306			163,475			154,839
Asia Pacific		108,065			86,274			90,967
Regional operating income		684,277			652,279			592,135
Corporate expenses		347,884			270,918			214,047
Total operating income		336,393			381,361			378,088
Interest expense		(132,043	)		(135,823	)		(148,718	)
Loss on early extinguishment of debt		(248	)		(16,587	)		—
Other income (expense), net		(1,275	)		6,647			(39,445	)
Income before income taxes	$	202,827		$	235,598		$	189,925

	Year Ended
	November 27, 2011		November 28, 2010		November 29, 2009
	(Dollars in thousands)
Depreciation and amortization expense:
Americas	$	53,804	$	51,050	$	44,492
Europe		23,803		25,485		21,599
Asia Pacific		12,878		11,798		11,238
Corporate		27,308		16,563		7,274
Total depreciation and amortization expense	$	117,793	$	104,896	$	84,603

	November 27, 2011
	Americas		Europe		Asia Pacific		Unallocated		Consolidated Total
	(Dollars in thousands)
Assets:
Trade receivables, net	$	404,401	$	164,077	$	66,779	$	19,646	$	654,903
Inventories		332,955		141,764		130,953		5,730		611,402
All other assets		—		—		—		2,013,250		2,013,250
Total assets									$	3,279,555

	November 28, 2010
	Americas		Europe		Asia Pacific		Unallocated		Consolidated Total
	(Dollars in thousands)
Assets:
Trade receivables, net	$	360,027	$	105,189	$	69,762	$	18,407	$	553,385
Inventories		313,920		158,139		104,630		3,214		579,903
All other assets		—		—		—		2,001,961		2,001,961
Total assets									$	3,135,249

Geographic information for the Company was as follows:

	Year Ended
	November 27, 2011		November 28, 2010		November 29, 2009
	(Dollars in thousands)
Net revenues:
United States	$	2,380,096	$	2,248,340	$	2,107,055
Foreign countries		2,381,470		2,162,309		1,998,711
Total net revenues	$	4,761,566	$	4,410,649	$	4,105,766

	Year Ended
	November 27, 2011		November 28, 2010		November 29, 2009
	(Dollars in thousands)
Deferred tax assets:
United States	$	643,767	$	646,050	$	677,245
Foreign countries		68,938		50,895		59,789
Total deferred tax assets	$	712,705	$	696,945	$	737,034

	Year Ended
	November 27, 2011		November 28, 2010		November 29, 2009
	(Dollars in thousands)
Long-lived assets:
United States	$	365,907	$	337,592	$	270,344
Foreign countries		152,874		169,557		181,023
Total long-lived assets	$	518,781	$	507,149	$	451,367