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Derivative Instruments
3 Months Ended
Nov. 26, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Derivative Instruments

Derivative Instruments

 

We use currency forward contracts to mitigate our exposure of certain monetary assets and liabilities from changes in currency exchange rates. Realized and unrealized gains and losses on derivative instruments without hedge accounting designation as well as the changes in the underlying monetary assets and liabilities from changes in currency exchange rates are included in other non-operating (income) expense. For derivative instruments without hedge accounting designation, in the first quarter of 2022, we recognized net realized gains of $3.9 million and net unrealized gains on the change in the fair value of the non-designated forward contracts of $0.8 million. In the first quarter of 2021, we recognized net realized gains of $2.4 million and net unrealized gains on the change in the fair value of the non-designated forward contracts of $2.9 million.