Financing Arrangements (Tables)

12 Months Ended

Nov. 30, 2014

Financing Arrangements [Abstract]

Components Of Outstanding Debt

Our outstanding debt was as follows at November 30:

(millions)	2014			2013
Short-term borrowings
Commercial paper	$	239.4		$	200.3
Other	30.2			11.3
	$	269.6		$	211.6
Weighted-average interest rate of short-term borrowings at year-end	1.3		%	0.7		%
Long-term debt
5.20% notes due 12/15/2015(1)	$	200.0		$	200.0
5.75% notes due 12/15/2017(2)	250.0			250.0
3.90% notes due 7/8/2021(3)	250.0			250.0
3.50% notes due 8/19/2023(4)	250.0			250.0
7.63%–8.12% notes due 2024	55.0			55.0
Other	8.5			10.8
Unamortized discounts and fair value adjustments	1.8			5.7
	1,015.3			1,021.5
Less current portion	1.2			2.5
	$	1,014.1		$	1,019.0

(1) The fixed interest rate on $100 million of the 5.20% notes due in 2015 is effectively converted to a variable rate by interest rate swaps through 2015. Net interest payments are based on 3 month LIBOR minus 0.05% during this period (our effective rate as of November 30, 2014 was 0.19%).

(2) Interest rate swaps, settled upon the issuance of these notes in 2007, effectively fixed the interest rate on the $250 million notes at a weighted-average fixed rate of 6.25%.

(3) Interest rate swaps, settled upon the issuance of these notes in 2011, effectively fixed the interest rate on the $250 million notes at a weighted-average fixed rate of 4.01%.

(4) Interest rate swaps, settled upon the issuance of these notes in 2013, effectively fixed the interest rate on the $250 million notes at a weighted-average fixed rate of 3.30%.

Maturities Of Long-Term Debt

Maturities of long-term debt during the fiscal years subsequent to November 30, 2014 are as follows (in millions):

2016	$	200.6
2017	0.7
2018	250.7
2019	0.8
Thereafter	559.5

Rental Expense Under Operating Leases

Future annual fixed rental payments for the years ending November 30 are as follows (in millions):

2015	$	23.4
2016	17.6
2017	13.9
2018	11.3
2019	8.5
Thereafter	17.6