Contingencies and Commitments

12 Months Ended

Nov. 30, 2016

Loss Contingencies [Line Items]

Contingencies and Commitments

Contingencies and Commitments

Litigation

From time to time, the Company is subject to various claims, proceedings, and lawsuits related to products, services, contracts, employment, environmental, safety, intellectual property, and other matters. The ultimate resolution of such claims, proceedings, and lawsuits is inherently unpredictable and, as a result, the Company’s estimates of liability, if any, are subject to change. Actual results may materially differ from the Company’s estimates and an unfavorable resolution of any matter could have a material adverse effect on the financial condition, results of operations and/or cash flows of the Company. However, subject to the above and taking into account such amounts, if any, as are accrued from time to time on the Company’s balance sheet, the Company does not believe, based on the information currently available to it, that the ultimate resolution of these matters will have a material effect on the consolidated financial condition, results of operations, or cash flows of the Company.

Leases

The Company leases certain facilities, machinery and equipment, and office buildings under long-term, non-cancelable operating leases. The leases generally provide for renewal options ranging from 5 to 20 years and require the Company to pay for utilities, insurance, taxes, and maintenance. Rent expense on operating leases was $6.3 million in 2016, $5.9 million in 2015, and $6.9 million in 2014. Future minimum commitments at November 30, 2016 for non-cancelable operating leases were $32.8 million with annual amounts of $4.7 million in 2017, $3.6 million in 2018, $3.0 million in 2019, $2.5 million in 2020, $1.7 million in 2021, and $17.3 million for leases thereafter.

Environmental Matters

The Company’s policy is to conduct its businesses with due regard for the preservation and protection of the environment. The Company devotes significant resources and management attention to comply with environmental laws and regulations. The Company’s Consolidated Balance Sheets as of November 30, 2016 and 2015 reflects reserves for environmental remediation of $3.9 million and $4.1 million, respectively. The Company’s estimates are subject to change and actual results may materially differ from the Company’s estimates. Management believes, on the basis of presently available information, that resolution of known environmental matters will not materially affect liquidity, capital resources, or the consolidated financial condition of the Company.

Collective Bargaining Agreements

At November 30, 2016, the Company employed approximately 2,100 employees at offices, plants, and other facilities located principally throughout the United States, France, China and Thailand. Approximately 9.9% of the Company’s U.S. employees are covered by collective bargaining agreements.