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Leases (Tables)

12 Months Ended

Nov. 30, 2021

The following presents the components of our lease expense for the years ended November 30 (in millions):


	2021		2020
Operating lease cost	$	45.0	$	41.2
Finance lease cost:
Amortization of ROU assets	9.0		9.0
Interest on lease liabilities	4.3		4.5
Net lease cost	$	58.3	$	54.7

(1) Net lease cost does not include short-term leases, variable lease costs or sublease income, all of which are immaterial.

Supplemental cash flow and other information related to leases for the years ended November 30 were as follows (in millions):


	2021		2020
Cash paid for amounts included in the measurements of lease liabilities:
Operating cash flows used for operating leases	$	45.4	$	41.5
Operating cash flows used for finance leases	4.3		4.5
Financing cash flows used for finance leases	7.1		6.9

ROU assets obtained in exchange for lease liabilities
Operating leases	$	47.8	$	36.6

Supplemental balance sheet information related to leases as of November 30 were as follows (in millions):


Leases	Classification	2021		2020
Assets:
Operating lease ROU assets	Other long-term assets	$	136.8	$	136.8
Finance lease ROU assets	Property, plant and equipment, net	112.1		120.7
Total leased assets		$	248.9	$	257.5

Liabilities:
Current
Operating	Other accrued liabilities	$	34.3	$	37.3
Finance	Current portion of long-term debt	7.5		7.3
Non-current
Operating	Other long-term liabilities	106.1		103.5
Finance	Long-term debt	118.2		125.5
Total lease liabilities		$	266.1	$	273.6

Information regarding our lease terms and discount rates as of November 30 were as follows:


	2021			2020
	Weighted-average remaining lease term (years)	Weighted-average discount rate		Weighted-average remaining lease term (years)	Weighted-average discount rate
Operating leases	6.8	1.9	%	5.6	1.9	%
Finance leases	12.9	3.3	%	13.9	3.3	%

The future maturity of our lease liabilities as of November 30, 2021 were as follows (in millions):

The future maturity of our lease liabilities as of November 30, 2021 were as follows (in millions):