Subsequent Event

9 Months Ended

Aug. 01, 2015

Subsequent Event [Line Items]

Subsequent Event

Subsequent Events

On August 17, 2015, the Board of Directors of the Company declared a cash dividend of $0.40 per outstanding share of common stock. The dividend will be paid on September 9, 2015 to all shareholders of record at the close of business on August 28, 2015.

On August 18, 2015, the Company announced a plan to convert the benefits provided to participants in the Company’s Irish defined benefits pension plan (the DB Plan) to benefits provided under the Company’s Irish defined contribution plan (the DC Plan). Subject to the mandatory consultation period, the DB Plan trustees and the Company expect to make lump sum payments for DB Plan participants into the participants’ DC Plan accounts by the end of fiscal year 2015. Such payments will be funded by the existing assets of the DB Plan and an additional Company contribution expected to be approximately $210 million to settle all existing and future DB Plan liabilities for active and deferred DB Plan participants. Retired DB Plan participants’ benefits will be bought out by the DB Plan trustees with individual annuities.