Note 11 - Income Taxes (Tables)

12 Months Ended

Nov. 30, 2024

Notes Tables

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

Income before income taxes and income from equity method investments	2024			2023		2022
United States	$	(46,064	)	$	15,276	$	63,718
Non-U.S.		228,727			218,884		188,210
Total	$	182,663		$	234,160	$	251,928

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

Components of the provision for income tax expense (benefit)	2024			2023			2022
Current:
U.S. federal	$	14,150		$	18,347		$	12,181
State		4,104			5,529			3,389
Non-U.S.		92,721			87,449			63,750
		110,975			111,325			79,320
Deferred:
U.S. federal		(44,784	)		(100	)		8,150
State		(4,442	)		(4,111	)		(1,767	)
Non-U.S.		(5,368	)		(13,585	)		(8,517	)
		(54,594	)		(17,796	)		(2,134	)
Total	$	56,381		$	93,529		$	77,186

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

Reconciliation of effective income tax	2024			2023			2022
Tax at statutory U.S. federal income tax rate	$	38,359		$	49,174		$	52,760
State income taxes, net of federal benefit		(307	)		1,137			1,252
Foreign dividend repatriation		1,943			21,730			2,596
Foreign operations		13,232			12,558			1,868
Executive compensation over $1.0 million		1,690			784			2,847
Non-U.S. stock option expense		676			730			525
Change in valuation allowance		(1,800	)		725			3,187
Research and development tax credit		(1,460	)		(1,400	)		(927	)
Foreign-derived intangible income		(625	)		(2,665	)		(2,786	)
Global intangible low-taxed income		1,581			2,345			1,890
Provision to return		(1,595	)		1,336			840
Cross currency swap		-			-			7,020
Contingency reserve		3,416			5,951			5,909
Excess Tax Benefit Related to Stock Options & Restricted Stock		(3,083	)		(850	)		(2,016	)
Goodwill Impairment Related to Flooring		2,373			-			-
Other		1,981			1,974			2,221
Total income tax expense	$	56,381		$	93,529		$	77,186

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

Deferred income tax balances at each year-end related to:	2024			2023
Deferred tax assets:
Pension and other post-retirement benefit plans	$	4,318		$	5,306
Employee benefit costs		28,116			27,672
Foreign tax credit carryforward		7,555			6,538
Tax loss carryforwards		20,059			25,894
Leases		16,203			12,716
Hedging activity		11,688			18,638
Interest deduction limitation		57,233			37,519
Other		31,026			33,022
Gross deferred tax assets		176,198			167,305
Less: valuation allowance		(11,696	)		(15,595	)
Total net deferred tax assets		164,502			151,710
Deferred tax liability:
Depreciation and amortization		(187,897	)		(209,266	)
Pension and other post-retirement benefit plans		(58,119	)		(41,444	)
Undistributed earnings of non-U.S. subsidiaries		(4,933	)		(21,926	)
Leases		(15,948	)		(12,510	)
Total deferred tax liability		(266,897	)		(285,146	)
Net deferred tax liability	$	(102,395	)	$	(133,436	)

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	2024			2023
Balance at beginning of year	$	14,254		$	17,582
Tax positions related to the current year:
Additions		1,027			723
Tax positions related to prior years:
Additions		4,434			5,658
Reductions		(755	)		(965	)
Settlements		(775	)		(8,156	)
Lapses in applicable statutes of limitation		(2,595	)		(588	)
Balance at end of year	$	15,590		$	14,254