Note 10 - Pension and Postretirement Benefits (Tables)

12 Months Ended

Nov. 28, 2020

Notes Tables

Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]

	Pension Benefits												Other Postretirement
	U.S. Plans						Non-U.S. Plans						Benefits
	2020			2019			2020			2019			2020			2019
Change in projected benefit obligation
Benefit obligation at beginning of year	$	380,388		$	336,889		$	234,542		$	208,075		$	39,256		$	36,842
Service cost		-			4			2,950			2,237			73			98
Interest cost		11,738			14,691			3,158			4,678			1,135			1,550
Participant contributions		-			-			-			-			226			240
Actuarial (gain)/loss1		27,377			49,211			4,350			30,517			1,327			3,749
Other		-			-			-			(103	)		-			-
Curtailments		-			-			14			-			-			-
Settlement payments		(10,939	)		-			(273	)		(307	)		-			-
Benefits paid		(20,034	)		(20,407	)		(8,628	)		(8,356	)		(2,942	)		(3,223	)
Foreign currency translation effect		-			-			14,448			(2,199	)		-			-
Benefit obligation at end of year		388,530			380,388			250,561			234,542			39,075			39,256
Change in plan assets
Fair value of plan assets at beginning of year		383,527			346,460			185,331			169,455			94,474			82,910
Actual return on plan assets		44,365			54,527			13,155			22,945			15,673			12,046
Employer contributions		1,677			3,124			2,177			2,437			1,625			2,501
Participant contributions		-			-			-			-			226			240
Other		-			-			-			(103	)		-			-
Settlement payments		(10,939	)		-			-			-			-			-
Benefits paid2		(20,227	)		(20,584	)		(8,628	)		(8,356	)		(2,942	)		(3,223	)
Foreign currency translation effect		-			-			10,207			(1,047	)		-			-
Fair value of plan assets at end of year		398,403			383,527			202,242			185,331			109,056			94,474
Plan assets in excess of (less than) benefit obligation as of year end	$	9,873		$	3,139		$	(48,688	)	$	(49,211	)	$	69,981		$	55,218

Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block]

Amounts in accumulated other comprehensive income (loss) that have not been recognized as components of net periodic benefit cost	Pension Benefits										Other Postretirement
	U.S. Plans						Non-U.S. Plans				Benefits
	2020			2019			2020		2019		2020			2019
Unrecognized actuarial loss	$	147,917		$	146,149		$	87,368	$	83,457	$	(4,318	)	$	2,114
Unrecognized prior service (benefit) cost		(6	)		(9	)		1,453		1,476		-			-
Ending balance	$	147,911		$	146,140		$	88,821	$	84,933	$	(4,318	)	$	2,114

Schedule of Amounts Recognized in Balance Sheet [Table Text Block]

	Pension Benefits												Other Postretirement
	U.S. Plans						Non-U.S. Plans						Benefits
	2020			2019			2020			2019			2020			2019
Statement of financial position as of fiscal year-end
Non-current assets	$	30,672		$	22,480		$	12,534		$	6,263		$	73,137		$	58,307
Accrued benefit cost
Current liabilities		(1,467	)		(1,418	)		(1,701	)		(1,723	)		(226	)		(210	)
Non-current liabilities		(19,332	)		(17,922	)		(59,521	)		(53,750	)		(2,930	)		(2,879	)
Ending balance	$	9,873		$	3,140		$	(48,688	)	$	(49,210	)	$	69,981		$	55,218

Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block]

	Pension Benefits and Other Postretirement Benefits
	U.S. Plans				Non-U.S. Plans
	2020		2019		2020		2019
Accumulated benefit obligation	$	26,241	$	24,344	$	134,472	$	125,073
Fair value of plan assets		5,441		5,004		84,239		79,437

	Pension Benefits and Other Postretirement Benefits
	U.S. Plans				Non-U.S. Plans
	2020		2019		2020		2019
Projected benefit obligation	$	26,241	$	24,344	$	145,461	$	134,910
Fair value of plan assets		5,441		5,004		84,239		79,437

Schedule of Expected Benefit Payments [Table Text Block]

	Pension Benefits				Other
	U.S. Plans		Non-U.S. Plans		Postretirement Benefits
Employer contributions
2021	$	312	$	54	$	1,500
Expected benefit payments
2021		21,084		16,196		2,999
2022		21,521		8,689		2,938
2023		21,127		8,710		2,872
2024		21,444		8,943		2,772
2025-2030		105,296		47,195		12,092

Schedule of Net Benefit Costs [Table Text Block]

	Pension Benefits																		Other
	U.S. Plans									Non-U.S. Plans									Postretirement Benefits
Net periodic cost (benefit)	2020			2019			2018			2020			2019			2018			2020			2019			2018
Service cost	$	-		$	4		$	56		$	2,950		$	2,237		$	2,311		$	73		$	98		$	173
Interest cost		11,738			14,691			12,251			3,158			4,678			4,671			1,135			1,550			1,484
Expected return on assets		(25,758	)		(25,305	)		(26,167	)		(11,312	)		(10,224	)		(11,105	)		(7,976	)		(7,013	)		(6,896	)
Amortization:
Prior service cost (benefit)		(3	)		13			29			64			64			(4	)		-			-			-
Actuarial loss		7,195			4,677			5,904			3,829			3,114			2,901			62			33			60
Curtailment loss		-			-			-			14			83			-			-			-			-
Settlement charge		-			-			-			67			-			-			-			-			-
Net periodic (benefit) cost	$	(6,828	)	$	(5,920	)	$	(7,927	)	$	(1,230	)	$	(48	)	$	(1,226	)	$	(6,706	)	$	(5,332	)	$	(5,179	)

Defined Benefit Plan, Assumptions [Table Text Block]

	Pension Benefits																		Other
	U.S. Plans									Non-U.S. Plans									Postretirement Benefits
Weighted-average assumptions used to determine benefit obligations	2020			2019			2018			2020			2019			2018			2020			2019			2018
Discount rate		2.50	%		3.17	%		4.50	%		1.16	%		1.35	%		2.29	%		2.19	%		3.00	%		4.37	%
Rate of compensation increase1		4.50	%		4.50	%		4.50	%		1.74	%		1.71	%		1.75	%		N/A			N/A			N/A

Weighted-average assumptions used to determine net costs for years ended	2020			2019			2018			2020			2019			2018			2020			2019			2018
Discount rate		3.17	%		4.50	%		3.72	%		1.34	%		2.30	%		2.10	%		3.00	%		4.37	%		3.54	%
Expected return on plan assets		7.49	%		7.49	%		7.75	%		6.23	%		6.21	%		6.20	%		8.50	%		8.50	%		8.75	%
Rate of compensation increase1		4.50	%		4.50	%		4.50	%		1.74	%		1.71	%		1.75	%		N/A			N/A			N/A

Schedule of Health Care Cost Trend Rates [Table Text Block]

Assumed health care trend rates	2020			2019			2018
Health care cost trend rate assumed for next year		6.75	%		7.00	%		6.25	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)		5.00	%		0.25	%		0.25	%
Fiscal year that the rate reaches the ultimate trend rate	2028			2028			2024

Schedule of Allocation of Plan Assets [Table Text Block]

	U.S. Pension Plans									Non-U.S. Pension Plans									Other Postretirement Plans
	Target			Percentage of Plan Assets at Year-End						Target			Percentage of Plan Assets at Year-End						Target			Percentage of Plan Assets at Year-End
Asset Category	2020			2020			2019			2020			2020			2019			2020			2020			2019
Equities		60.0	%		55.4	%		57.7	%		49.6	%		48.8	%		49.6	%		0.0	%		0.0	%		0.0	%
Fixed income		40.0	%		36.2	%		63.8	%		50.4	%		51.0	%		50.1	%		0.0	%		0.0	%		0.0	%
Insurance		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		100.0	%		99.4	%		99.6	%
Cash 1		0.0	%		8.4	%		-21.5	%		0.0	%		0.2	%		0.3	%		0.0	%		0.6	%		0.4	%
Total		100	%		100	%		100	%		100	%		100	%		100	%		100	%		100	%		100	%

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

	November 28, 2020
U.S. Pension Plans	Level 1		Level 2		Level 3		Total Assets
Equities	$	3,421	$	217,151	$	-	$	220,572
Fixed income		1,524		142,317		205		144,046
Cash 2		33,391		-		-		33,392
Total categorized in the fair value hierarchy		38,336		359,468		205		398,009
Other investments measured at NAV 1								394
Total	$	38,336	$	359,468	$	205	$	398,403

Non-U.S. Pension Plans	Level 1		Level 2		Level 3		Total Assets
Equities	$	33,478	$	1,368	$	-	$	34,846
Fixed income		49,813		7,182		770		57,765
Cash		352		-		-		352
Total categorized in the fair value hierarchy		83,643		8,550		770		92,963
Other investments measured at NAV 1								109,279
Total	$	83,643	$	8,550	$	770	$	202,242

Other Postretirement Benefits	Level 1		Level 2		Level 3		Total Assets
Insurance	$	-	$	-	$	108,406	$	108,406
Cash		650		-		-		650
Total	$	650	$	-	$	108,406	$	109,056

	November 30, 2019
U.S. Pension Plans	Level 1			Level 2		Level 3		Total Assets
Equities	$	126,178		$	95,271	$	-	$	221,449
Fixed income		119,103			125,329		219		244,651
Cash		(83,099	)		140		-		(82,959	)
Total categorized in the fair value hierarchy		162,182			220,740		219		383,141
Other investments measured at NAV 1									386
Total	$	162,182		$	220,740	$	219	$	383,527

Non-U.S. Pension Plans	Level 1		Level 2		Level 3		Total Assets
Equities	$	32,045	$	1,247	$	-	$	33,292
Fixed income		46,262		6,819		675		53,756
Cash		506		-		-		506
Total categorized in the fair value hierarchy		78,813		8,066		675		87,554
Other investments measured at NAV 1								97,777
Total	$	78,813	$	8,066	$	675	$	185,331

Other Postretirement Benefits	Level 1		Level 2		Level 3		Total Assets
Insurance	$	-	$	-	$	94,082	$	94,082
Cash		392		-		-		392
Total	$	392	$	-	$	94,082	$	94,474

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]

	Fixed Income
U.S. Pension Plans	2020			2019
Level 3 balance at beginning of year	$	219		$	266
Purchases, sales, issuances and settlements, net		(14	)		(47	)
Level 3 balance at end of year	$	205		$	219

	Fixed Income
Non-U.S. Pension Plans	2020			2019
Level 3 balance at beginning of year	$	675		$	662
Net transfers into / (out of) level 3		43			28
Net gains		(8	)		5
Currency change effect		60			(20	)
Level 3 balance at end of year	$	770		$	675

	Insurance
Other Postretirement Benefits	2020			2019
Level 3 balance at beginning of year	$	94,082		$	82,446
Net transfers into / (out of) level 3		(831	)		(403	)
Purchases, sales, issuances and settlements, net		(822	)		(720	)
Net gains		15,977			12,759
Level 3 balance at end of year	$	108,406		$	94,082