BUSINESS SEGMENT INFORMATION

3 Months Ended

12 Months Ended

Feb. 26, 2017

Nov. 27, 2016

Segment Reporting [Abstract]

BUSINESS SEGMENT INFORMATION

NOTE 13: BUSINESS SEGMENT INFORMATION

The Company manages its business according to three regional segments: the Americas, Europe and Asia. The Company considers its chief executive officer to be the Company’s chief operating decision maker. The Company’s chief operating decision maker manages business operations, evaluates performance and allocates resources based on the regional segments’ net revenues and operating income.

Effective as of the beginning of 2017, certain of the Company’s global expenses that support all regional segments, including global e-commerce infrastructure and global brand merchandising, marketing and design, previously recorded centrally in the Americas region segment and Corporate expenses, have now been allocated to the three regional business segments, and reported in operating results. Business segment information for the prior-year period has been revised to reflect the change in presentation.

Business segment information for the Company is as follows:

	Three Months Ended
	February 26, 2017			February 28, 2016
	(Dollars in thousands)
Net revenues:
Americas	$	577,907		$	571,185
Europe		310,317			276,486
Asia		213,767			208,829
Total net revenues	$	1,101,991		$	1,056,500
Operating income:
Americas	$	90,342		$	88,032
Europe		64,539			50,939
Asia		35,941			40,893
Regional operating income		190,822			179,864
Corporate:
Restructuring, net		—			1,848
Restructuring-related charges		—			1,497
Other corporate staff costs and expenses		82,482			59,932
Corporate expenses		82,482			63,277
Total operating income		108,340			116,587
Interest expense		(19,934	)		(14,902	)
Other income (expense), net		408			(2,219	)
Income before income taxes	$	88,814		$	99,466

NOTE 20: BUSINESS SEGMENT INFORMATION

The Company manages its business according to three regional segments: the Americas, Europe and Asia. The Company considers its chief executive officer to be the Company’s chief operating decision maker. The Company’s 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.

Effective as of the beginning of 2015, the Company’s regional licensing revenue, previously recorded centrally in the Company’s Americas region, was revised to be recorded in the Company’s respective regions. Regional licensing revenue are not significant to any of the Company’s regional segments individually in any of the periods presented herein, and accordingly, business segment information for the prior periods have not been revised.

Business segment information for the Company is as follows:

	Year Ended
	November 27, 2016			November 29, 2015			November 30, 2014
	(Dollars in thousands)
Net revenues:
Americas	$	2,683,008		$	2,726,461		$	2,862,867
Europe		1,091,362			1,016,418			1,143,313
Asia		778,369			751,614			747,812
Total net revenues	$	4,552,739		$	4,494,493		$	4,753,992
Operating income:
Americas	$	482,226		$	523,705		$	531,064
Europe(1)		197,136			184,362			181,036
Asia		105,073			121,645			108,511
Regional operating income		784,435			829,712			820,611
Corporate:
Restructuring, net		313			14,071			128,425
Restructuring-related charges		7,195			30,736			27,621
Lump-sum pension settlement loss		—			—			30,666
Other corporate staff costs and expenses		314,720			353,858			320,048
Corporate expenses		322,228			398,665			506,760
Total operating income		462,207			431,047			313,851
Interest expense		(73,170	)		(81,214	)		(117,597	)
Loss on early extinguishment of debt		—			(14,002	)		(20,343	)
Other income (expense), net		18,223			(25,433	)		(22,057	)
Income before income taxes	$	407,260		$	310,398		$	153,854

(1) Europe’s operating income for the year ended November 27, 2016 includes a gain of $6.1 million related to the sale-leaseback of the Company’s distribution center in the United Kingdom in the second quarter of 2016. Included in Europe’s operating income for the year ended November 29, 2015 is a gain of $7.5 million related to the sale of the Company’s finishing and distribution facility in Turkey in the second quarter of 2015.

	Year Ended
	November 27, 2016		November 29, 2015		November 30, 2014
	(Dollars in thousands)
Depreciation and amortization expense:
Americas	$	30,322	$	27,558	$	29,508
Europe		12,574		14,985		20,564
Asia		8,210		7,455		8,501
Corporate		52,772		52,046		50,901
Total depreciation and amortization expense	$	103,878	$	102,044	$	109,474

	November 27, 2016
	Americas		Europe		Asia		Unallocated		Consolidated Total
	(Dollars in thousands)
Assets:
Trade receivables, net	$	326,211	$	94,106	$	46,510	$	12,191	$	479,018
Inventories		391,713		125,029		121,544		77,895		716,181
All other assets		—		—		—		1,791,897		1,791,897
Total assets									$	2,987,096

	November 29, 2015
	Americas		Europe		Asia		Unallocated		Consolidated Total
	(Dollars in thousands)
Assets:
Trade receivables, net	$	343,808	$	81,079	$	53,613	$	19,696	$	498,196
Inventories		359,879		109,604		91,390		45,986		606,859
All other assets		—		—		—		1,779,340		1,779,340
Total assets									$	2,884,395

Geographic information for the Company was as follows:

	Year Ended
	November 27, 2016		November 29, 2015		November 30, 2014
	(Dollars in thousands)
Net revenues:
United States	$	2,302,668	$	2,380,820	$	2,490,994
Foreign countries		2,250,071		2,113,673		2,262,998
Total net revenues	$	4,552,739	$	4,494,493	$	4,753,992
Net deferred tax assets:
United States	$	444,295	$	506,675	$	580,122
Foreign countries		78,806		73,965		80,742
Total net deferred tax assets	$	523,101	$	580,640	$	660,864
Long-lived assets:
United States	$	311,358	$	322,758	$	322,329
Foreign countries		108,332		89,062		84,507
Total long-lived assets	$	419,690	$	411,820	$	406,836