Note 9 - Unconsolidated Affiliated Companies

12 Months Ended

Nov. 25, 2017

Notes to Financial Statements

Equity Method Investments and Joint Ventures Disclosure [Text Block]

9

.

Unconsolidated Affiliated Compan

ies

Zenith Freight Lines, LLC

Prior to

February 2, 2015

w

e owned

49%

of Zenith and accounted for our investment under the equity method. The balance of our investment in Zenith was

$9,480

on the date of acquisition. See Note

3

regarding the remeasurement of this carrying value to fair value in connection with the acquisition and the resulting gain. During fiscal

2015

we recorded income representing our equity in the earnings of Zenith prior to acquisition in the amount of

$220.

Prior to the acquisition, we paid Zenith approximately

$6,863

for freight expense and logistical services in fiscal

2015.

International

Market Centers, L.P.

In connection with the sale of our interest in International Home Furnishings Center, Inc. on

May 2, 2011

, we acquired a minority interest in International Market Centers, L.P. (“IMC”) in exchange for

$1,000.

Our investment in IMC was included in other long-term assets in our consolidated balance sheet as of

November 26, 2016

and was accounted for using the cost method as we did

not

have significant influence over IMC. During fiscal

2017

IMC was sold resulting in the redemption of our entire interest for total proceeds of

$1,954

resulting in a gain of

$954

which is included in gain on sale of investments in our consolidated statement of income.

Other

In

1985,

we acquired a minority interest in a privately-held, start-up provider of property and casualty insurance for

$325.

We have accounted for this investment on the cost method and

it was included in other long-term assets in our consolidated balance sheet as of

November 26, 2016.

During fiscal

2017

we sold our entire interest for

$3,592

in cash, resulting in a gain of

$3,267

which is included in gain on sale of investments in our consolidated statement of income.