BUSINESS SEGMENT INFORMATION

3 Months Ended

12 Months Ended

Feb. 24, 2013

Nov. 25, 2012

BUSINESS SEGMENT INFORMATION

NOTE 12:    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.

Business segment information for the Company is as follows:

	Three Months Ended
	February 24, 2013			February 26, 2012
	(Dollars in thousands)
Net revenues:
Americas	$	647,127		$	647,294
Europe		296,587			289,452
Asia Pacific		202,964			228,215
Total net revenues	$	1,146,678		$	1,164,961
Operating income:
Americas	$	132,463		$	79,636
Europe		62,926			52,073
Asia Pacific		48,965			41,160
Regional operating income		244,354			172,869
Corporate expenses		62,899			62,658
Total operating income		181,455			110,211
Interest expense		(32,157	)		(38,573	)
Loss on early extinguishment of debt		(114	)		—
Other income, net		6,066			1,172
Income before income taxes	$	155,250		$	72,810

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.

Business segment information for the Company is as follows:

	Year Ended
	November 25, 2012			November 27, 2011			November 28, 2010
	(Dollars in thousands)
Net revenues:
Americas	$	2,749,327		$	2,715,925		$	2,549,086
Europe		1,103,212			1,174,138			1,105,264
Asia Pacific		757,654			871,503			756,299
Total net revenues	$	4,610,193		$	4,761,566		$	4,410,649
Operating income:
Americas	$	431,552		$	393,906		$	402,530
Europe		178,313			182,306			163,475
Asia Pacific		66,839			108,065			86,274
Regional operating income		676,704			684,277			652,279
Corporate expenses(1)		342,725			347,884			270,918
Total operating income		333,979			336,393			381,361
Interest expense		(134,694	)		(132,043	)		(135,823	)
Loss on early extinguishment of debt		(8,206	)		(248	)		(16,587	)
Other income (expense), net		4,802			(1,275	)		6,647
Income before income taxes	$	195,881		$	202,827		$	235,598

(1) Included in corporate expenses for the year ended November 25, 2012, is an $18.8 million impairment charge related to the Company’s decision in the third quarter to outsource distribution in Japan to a third-party and close its owned distribution center in that country.

	Year Ended
	November 25, 2012		November 27, 2011		November 28, 2010
	(Dollars in thousands)
Depreciation and amortization expense:
Americas	$	43,368	$	53,804	$	51,050
Europe		21,891		23,803		25,485
Asia Pacific		12,887		12,878		11,798
Corporate		44,462		27,308		16,563
Total depreciation and amortization expense	$	122,608	$	117,793	$	104,896

	November 25, 2012
	Americas		Europe		Asia Pacific		Unallocated		Consolidated Total
	(Dollars in thousands)
Assets:
Trade receivables, net	$	327,308	$	113,405	$	40,996	$	18,963	$	500,672
Inventories		270,019		126,018		96,969		25,854		518,860
All other assets		—		—		—		2,150,545		2,150,545
Total assets									$	3,170,077
	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

Geographic information for the Company was as follows:

	Year Ended
	November 25, 2012		November 27, 2011		November 28, 2010
	(Dollars in thousands)
Net revenues:
United States	$	2,412,647	$	2,380,096	$	2,248,340
Foreign countries		2,197,546		2,381,470		2,162,309
Total net revenues	$	4,610,193	$	4,761,566	$	4,410,649
Deferred tax assets:
United States	$	647,767	$	643,767	$	646,050
Foreign countries		81,373		68,938		50,895
Total deferred tax assets	$	729,140	$	712,705	$	696,945
Long-lived assets:
United States	$	353,567	$	365,907	$	337,592
Foreign countries		123,977		152,874		169,557
Total long-lived assets	$	477,544	$	518,781	$	507,149