Note 12 - Income Taxes (Tables)

12 Months Ended

Nov. 30, 2019

Notes Tables

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

Income before income taxes and income from equity method investments	2019		2018		2017
United States	$	31,796	$	19,388	$	(33,273	)
Non-U.S.		141,032		137,338		93,872
Total	$	172,828	$	156,726	$	60,599

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Components of the provision for income tax expense (benefit)	2019			2018			2017
Current:
U.S. federal	$	9,122		$	9,652		$	444
State		3,294			1,597			21
Non-U.S.		47,848			37,980			29,557
		60,264			49,229			30,022
Deferred:
U.S. federal		(432	)		(50,115	)		(7,653	)
State		125			(197	)		(1,414	)
Non-U.S.		(10,549	)		(5,273	)		(11,145	)
		(10,856	)		(55,585	)		(20,212	)
Total	$	49,408		$	(6,356	)	$	9,810

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Reconciliation of effective income tax	2019			2018			2017
Statutory U.S. federal income tax rate	$	36,294		$	34,605		$	21,210
State income taxes, net of federal benefit		2,785			1,148			(959	)
Foreign dividend repatriation		2,854			1,258			276
Foreign operations		8,712			(3,253	)		(9,565	)
Impact of option valuation		-			330			(1,381	)
Interest income not taxable in the U.S.		-			-			(626	)
Executive compensation over $1 million		1,661			611			-
Change in valuation allowance		1,097			5,213			(3,694	)
Research and development tax credit		(802	)		(982	)		(647	)
Section 199 manufacturing deduction		-			(319	)		-
Foreign-derived intangible income		(2,240	)		-			-
Cross currency swap		2,677			-			-
Royal Adhesives transaction costs		-			-			2,271
Transition tax		-			42,007			-
Dividends received deduction		-			(8,484	)		-
Deferred tax rate change		-			(79,488	)		-
Other		(3,630	)		998			2,925
Total income tax expense (benefit)	$	49,408		$	(6,356	)	$	9,810

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Deferred income tax balances at each year-end related to:	2019			2018
Deferred tax assets:
Employee benefit costs	$	32,621		$	19,617
Foreign tax credit carryforward		2,175			1,809
Tax loss carryforwards		26,427			27,532
Other		29,518			20,865
Gross deferred tax assets		90,741			69,823
Less: valuation allowance		(14,986	)		(14,129	)
Total net deferred tax assets		75,755			55,694
Deferred tax liability:
Depreciation and amortization		(224,248	)		(242,877	)
Total deferred tax liability		(224,248	)		(242,877	)
Net deferred tax liability	$	(148,493	)	$	(187,183	)

Summary of Income Tax Contingencies [Table Text Block]

	2019			2018
Balance at beginning of year	$	8,420		$	8,887
Tax positions related to the current year:
Additions		684			622
Tax positions related to prior years:
Additions		3,077			1,625
Reductions		(1,484	)		(763	)
Settlements		(105	)		(15	)
Lapses in applicable statutes of limitation		(1,646	)		(1,936	)
Balance at end of year	$	8,946		$	8,420