INCOME TAXES (Tables)

12 Months Ended

Nov. 27, 2016

Income Tax Disclosure [Abstract]

Schedule of effective income tax rate reconciliation

The Company’s income tax expense differed from the amount computed by applying the U.S. federal statutory income tax rate of 35% to income before income taxes as follows:

	Year Ended
	November 27, 2016					November 29, 2015					November 30, 2014
	(Dollars in thousands)
Income tax expense at U.S. federal statutory rate	$	142,541		35.0	%	$	108,639		35.0	%	$	53,849		35.0	%
State income taxes, net of U.S. federal impact		6,943		1.7	%		8,938		2.9	%		7		—
Impact of foreign operations		(28,727	)	(7.1	)%		(7,286	)	(2.3	)%		(5,296	)	(3.4	)%
Reassessment of tax liabilities		(2,387	)	(0.6	)%		(7,577	)	(2.4	)%		(3,466	)	(2.3	)%
Deduction related to subsidiaries		(6,788	)	(1.7	)%		(8,060	)	(2.6	)%		—		—
Write-off of deferred tax assets		—		—			1,718		0.6	%		4,899		3.2	%
Other, including non-deductible expenses		4,469		1.2	%		4,135		1.2	%		(448	)	(0.3	)%
Total	$	116,051		28.5	%	$	100,507		32.4	%	$	49,545		32.2	%

Schedule of income before income tax, domestic and foreign

The U.S. and foreign components of income before income taxes were as follows:

	Year Ended
	November 27, 2016		November 29, 2015		November 30, 2014
	(Dollars in thousands)
Domestic	$	189,478	$	194,540	$	31,733
Foreign		217,782		115,858		122,121
Total income before income taxes	$	407,260	$	310,398	$	153,854

Schedule of components of income tax expense (benefit)

Income tax expense consisted of the following:

	Year Ended
	November 27, 2016			November 29, 2015			November 30, 2014
	(Dollars in thousands)
U.S. Federal
Current	$	7,122		$	3,299		$	15,470
Deferred		66,840			56,155			(1,983	)
	$	73,962		$	59,454		$	13,487
U.S. State
Current	$	2,097		$	1,334		$	4,096
Deferred		4,846			7,604			(4,089	)
	$	6,943		$	8,938		$	7
Foreign
Current	$	40,754		$	37,488		$	58,156
Deferred		(5,608	)		(5,373	)		(22,105	)
	$	35,146		$	32,115		$	36,051
Consolidated
Current	$	49,973		$	42,121		$	77,722
Deferred		66,078			58,386			(28,177	)
Total income tax expense	$	116,051		$	100,507		$	49,545

Schedule of deferred tax assets and liabilities

The Company’s deferred tax assets and deferred tax liabilities were as follows:

	November 27, 2016			November 29, 2015
	(Dollars in thousands)
Deferred tax assets
Foreign tax credit carryforwards	$	92,845		$	116,862
State net operating loss carryforwards		8,721			12,412
Foreign net operating loss carryforwards		85,095			91,235
Employee compensation and benefit plans		247,235			255,458
Advance royalties		58,633			69,881
Accrued liabilities		28,680			31,915
Sales returns and allowances		29,338			26,461
Inventory		14,272			17,196
Property, plant and equipment		6,971			16,459
Other		14,472			17,528
Total gross deferred tax assets		586,262			655,407
Less: Valuation allowance		(68,212	)		(75,753	)
Deferred tax assets, net of valuation allowance		518,050			579,654
Deferred tax liabilities
Unrealized gains or losses on investments		—			(344	)
Total net deferred tax assets	$	518,050		$	579,310
Net deferred tax assets	$	586,262		$	655,063
Valuation allowance		(68,212	)		(75,753	)
Total net deferred tax assets	$	518,050		$	579,310

Summary of valuation allowance

The following table details the changes in valuation allowance during the year ended November 27, 2016:

	Valuation Allowance at November 29, 2015		Changes in Related Gross Deferred Tax Asset			Release			Valuation Allowance at November 27, 2016
	(Dollars in thousands)
U.S. state net operating loss carryforwards	$	3,500	$	(1,780	)	$	—		$	1,720
Foreign net operating loss carryforwards and other foreign deferred tax assets		72,253		(3,247	)		(2,514	)		66,492
	$	75,753	$	(5,027	)	$	(2,514	)	$	68,212

Schedule of unrecognized tax benefits roll forward

The following table reflects the changes to the Company’s unrecognized tax benefits for the year ended November 27, 2016 and November 29, 2015:

	November 27, 2016			November 29, 2015
	(Dollars in thousands)
Unrecognized tax benefits beginning balance	$	32,704		$	41,571
Increases related to current year tax positions		1,970			3,687
Increases related to tax positions from prior years		45			—
Decreases related to tax positions from prior years		(584	)		(4,723	)
Settlement with tax authorities		—			—
Lapses of statutes of limitation		(4,266	)		(7,576	)
Other, including foreign currency translation		(816	)		(255	)
Unrecognized tax benefits ending balance	$	29,053		$	32,704

Summary of tax years under audit or open and subject to audit

The following table summarizes the tax years that are either currently under audit or remain open and subject to examination by the tax authorities in the major jurisdictions in which the Company operates:

Jurisdiction	Open Tax Years
U.S. federal		2009 – 2016
California		2006 – 2016
Belgium		2012 – 2016
United Kingdom		2014 – 2016
Spain		2012 – 2016
Mexico		2010 – 2016
Canada		2012 – 2016
China		2011 – 2016
Hong Kong		2011 – 2016
India		2008 – 2016
Italy		2007 – 2016
France		2014 – 2016
Japan		2011 – 2016
Russia		2014 – 2016
Germany		2011 – 2016