FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

12 Months Ended

Feb. 26, 2017

Nov. 27, 2016

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:

	February 26, 2017						November 27, 2016
			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	$	28,485	$	28,485	$	—	$	27,131	$	27,131	$	—
Forward foreign exchange contracts, net(3)		9,446		—		9,446		23,267		—		23,267
Total	$	37,931	$	28,485	$	9,446	$	50,398	$	27,131	$	23,267
Financial liabilities carried at fair value
Forward foreign exchange contracts, net(3)	$	10,843	$	—	$	10,843	$	5,533	$	—	$	5,533

(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 27, 2016						November 29, 2015
			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	$	27,131	$	27,131	$	—	$	26,013	$	26,013	$	—
Forward foreign exchange contracts, net(3)		23,267		—		23,267		27,131		—		27,131
Total	$	50,398	$	27,131	$	23,267	$	53,144	$	26,013	$	27,131
Financial liabilities carried at fair value
Forward foreign exchange contracts, net(3)	$	5,533	$	—	$	5,533	$	7,809	$	—	$	7,809

(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:

	February 26, 2017				November 27, 2016
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
	(Dollars in thousands)
Financial liabilities carried at adjusted historical cost
6.875% senior notes due 2022(1)		535,948		560,198		527,102		550,700
5.00% senior notes due 2025(1)		490,363		499,406		483,735		480,121
Short-term borrowings		34,393		34,393		39,009		39,009
Total	$	1,060,704	$	1,093,997	$	1,049,846	$	1,069,830

(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 27, 2016				November 29, 2015
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
	(Dollars in thousands)
Financial liabilities carried at adjusted historical cost
Senior revolving credit facility	$	—	$	—	$	99,020	$	99,020
4.25% Yen-denominated Eurobonds due 2016(1)		—		—		32,736		33,593
6.875% senior notes due 2022(1)		527,102		550,700		527,715		570,355
5.00% senior notes due 2025(1)		483,735		480,121		482,145		480,945
Short-term borrowings		39,009		39,009		15,996		15,996
Total	$	1,049,846	$	1,069,830	$	1,157,612	$	1,199,909

(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.