XML 23 R7.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Nov. 29, 2025
Nov. 30, 2024
Dec. 02, 2023
Cash flows from operating activities:      
Net income including non-controlling interest $ 152,073 $ 130,395 $ 144,988
Adjustments to reconcile net income including non-controlling interest to net cash provided by operating activities:      
Depreciation 91,774 91,054 80,327
Amortization 86,546 83,656 79,514
Deferred income taxes (50,094) (36,186) (25,114)
(Income) loss from equity method investments, net of dividends received (13) (537) 1,259
(Gain) loss on disposal of assets (3,702) (501) 59
Share-based compensation 22,055 21,914 19,911
Loss on the sale of a business 2,327 0 0
Loss on impairment of intangible asset 924 0 0
Pension and other postretirement benefit plan contributions (3,267) (2,909) (4,346)
Pension and other postretirement benefit plan benefit (21,240) (14,444) (18,591)
Loss on impairment of assets held for sale 0 47,267 0
Loss on impairment of equity investment 0 1,966 0
Gain from insurance proceeds 0 (4,871) 0
Debt issuance cost write-off 0 0 2,689
(Gain) loss on fair value adjustment on contingent consideration liabilities 0 (500) 2,893
Change in assets and liabilities, net of effects of acquisitions:      
Trade receivables, net (3,435) 10,749 68,721
Inventories (10,318) (30,099) 72,576
Other assets (28,709) (17,465) (7,927)
Trade payables (38,164) 47,915 (57,752)
Accrued compensation 4,906 12,653 (13,836)
Other accrued expenses 35,534 6,008 (3,070)
Income taxes payable (6,090) (23,090) 41,190
Other liabilities 34,877 (30,262) 22,918
Foreign currency remeasurement (2,491) 9,724 (28,011)
Net cash provided by operating activities 263,493 302,437 378,398
Cash flows from investing activities:      
Purchased property, plant and equipment (142,275) (139,238) (119,137)
Purchased businesses, net of cash acquired (167,007) (273,863) (205,093)
Proceeds from the sale of a business 75,727 0 0
Purchase of cost method investment (2,549) 0 0
Purchase of non-controlling interest (1,170) 0 0
Proceeds from sale of property, plant and equipment 5,025 1,152 5,029
Proceeds from insurance recoveries 0 4,871 0
Net cash used in investing activities (232,249) (407,078) (319,201)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 1,300,300 1,932,900 2,233,300
Repayment of long-term debt (1,305,434) (1,764,870) (2,126,450)
Payment of debt issue costs (1,047) (3,493) (10,214)
Net payment on notes payable (587) (1,219) (28,674)
Dividends paid (50,271) (47,598) (43,395)
Proceeds from stock options exercised 9,848 35,927 14,619
Repurchases of common stock (60,713) (39,558) (2,567)
Contingent consideration payment 0 0 (1,477)
Net cash (used in) provided by financing activities (107,904) 112,089 35,142
Net change in cash and cash equivalents (62,139) (10,101) 99,543
Cash and cash equivalents at beginning of year 169,352 179,453 79,910
Cash and cash equivalents at end of year 107,213 169,352 179,453
Effect of exchange rate changes on cash and cash equivalents 14,521 (17,549) 5,204
Supplemental disclosure of cash flow information:      
Dividends paid with company stock 386 404 363
Cash paid for interest, net of amount capitalized of $562, $1,859, and $1,769 for the years ended November 29, 2025, November 30, 2024 and December 2, 2023, respectively 132,534 134,743 136,959
Cash paid for income taxes, net of refunds $ 125,272 $ 123,091 $ 71,261