FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

12 Months Ended

Mar. 01, 2015

Nov. 30, 2014

Fair Value Disclosures [Abstract]

Financial assets and liabilities carried at fair value

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

	March 1, 2015						November 30, 2014
			Fair Value Estimated Using						Fair Value Estimated Using
	Fair Value		Level 1 Inputs(1)		Level 2 Inputs(2)		Fair Value		Level 1 Inputs(1)		Level 2 Inputs(2)
	(Dollars in thousands)
Financial assets carried at fair value
Rabbi trust assets	$	26,444	$	26,444	$	—	$	25,891	$	25,891	$	—
Forward foreign exchange contracts, net(3)		22,886		—		22,886		10,511		—		10,511
Total	$	49,330	$	26,444	$	22,886	$	36,402	$	25,891	$	10,511
Financial liabilities carried at fair value
Forward foreign exchange contracts, net(3)	$	9,671	$	—	$	9,671	$	10,353	$	—	$	10,353

(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 using Level 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 Company’s financial instruments that are carried at fair value:

	November 30, 2014						November 24, 2013
			Fair Value Estimated Using						Fair Value Estimated Using
	Fair Value		Level 1 Inputs(1)		Level 2 Inputs(2)		Fair Value		Level 1 Inputs(1)		Level 2 Inputs(2)
	(Dollars in thousands)
Financial assets carried at fair value
Rabbi trust assets	$	25,891	$	25,891	$	—	$	23,752	$	23,752	$	—
Forward foreign exchange contracts, net(3)		10,511		—		10,511		7,145		—		7,145
Total	$	36,402	$	25,891	$	10,511	$	30,897	$	23,752	$	7,145
Financial liabilities carried at fair value
Forward foreign exchange contracts, net(3)	$	10,353	$	—	$	10,353	$	2,335	$	—	$	2,335

(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. See Note 12 for more information on rabbi trust assets.

(2) Fair values estimated using Level 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.

Financial liabilities carried at adjusted historical cost

The following table presents the carrying value – including related accrued interest – and estimated fair value of the Company’s financial instruments that are carried at adjusted historical cost:

	March 1, 2015				November 30, 2014
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
	(Dollars in thousands)
Financial liabilities carried at adjusted historical cost
Senior revolving credit facility	$	—	$	—	$	100,098	$	100,098
4.25% Yen-denominated Eurobonds due 2016(1)		33,983		35,198		34,108		35,383
7.625% senior notes due 2020(1)		536,898		565,117		526,779		556,967
6.875% senior notes due 2022(1)		545,256		600,567		536,501		583,848
Short-term borrowings		33,923		33,923		31,742		31,742
Total	$	1,150,060	$	1,234,805	$	1,229,228	$	1,308,038

(1) Fair values are estimated using Level 1 inputs and incorporate mid-market price quotes. 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.

The following table presents the carrying value – including related accrued interest – and estimated fair value of the Company’s financial instruments that are carried at adjusted historical cost:

	November 30, 2014				November 24, 2013
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
	(Dollars in thousands)
Financial liabilities carried at adjusted historical cost
Senior revolving credit facility	$	100,098	$	100,098	$	—	$	—
4.25% Yen-denominated Eurobonds due 2016(1)		34,108		35,383		39,659		38,523
7.75% Euro senior notes due 2018(1)		—		—		405,304		432,098
7.625% senior notes due 2020(1)		526,779		556,967		526,112		577,956
6.875% senior notes due 2022(1)		536,501		583,848		537,447		588,275
Short-term borrowings		31,742		31,742		41,976		41,976
Total	$	1,229,228	$	1,308,038	$	1,550,498	$	1,678,828

(1) Fair values are estimated using Level 1 inputs and incorporate mid-market price quotes. 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.