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Employee Benefit And Retirement Plans (Tables)
 12 Months Ended
Nov. 30, 2021
Retirement Benefits, Description [Abstract]  
Significant Assumptions Used To Determine Benefit Obligations
The significant assumptions used to determine benefit obligations are as follows as of November 30:
  
United StatesInternational
  
2021202020212020
Discount rate—funded plans2.9 %2.8 %2.1 %1.9 %
Discount rate—unfunded plan2.8 %2.7 %— — 
Salary scale— — 2.9 %2.9 %

The significant assumptions used to determine pension expense for the years ended November 30 are as follows:
  
United StatesInternational
  
202120202019202120202019
Discount rate—funded plans2.8 %3.4 %4.7 %1.9 %2.2 %3.3 %
Discount rate—unfunded plan2.7 %3.3 %4.6 %— — — 
Salary scale— %— %— %2.9 %2.9 %3.4 %
Expected return on plan assets6.8 %6.8 %7.0 %4.1 %4.9 %5.5 %
Components Of Defined Benefit Plans Our pension expense (income) for the years ended November 30 was as follows:
  
United StatesInternational
(millions)202120202019202120202019
Service cost$3.7 $3.2 $2.1 $1.1 $1.3 $3.6 
Interest costs25.9 29.3 34.4 7.1 7.5 9.5 
Expected return on plan assets(41.1)(40.6)(42.5)(14.0)(15.3)(16.4)
Amortization of prior service costs0.5 0.5 0.5 0.1 0.1 0.2 
Amortization of net actuarial loss11.0 7.8 2.3 2.2 2.0 1.2 
Settlement loss— — — 0.7 1.3 — 
Total pension expense (income)$— $0.2 $(3.2)$(2.8)$(3.1)$(1.9)
Our other postretirement benefit expense (income) for the years ended November 30 follows:
(millions)202120202019
Service cost$2.0 $1.9 $1.8 
Interest costs1.6 2.0 2.7 
Amortization of prior service credits(0.3)(4.6)(8.7)
Amortization of actuarial gains— (0.1)(0.9)
Postretirement benefit expense (income) $3.3 $(0.8)$(5.1)
Benefit Obligation, Fair Value Of Plan Assets And Reconciliation Of Defined Benefit Plans A rollforward of the benefit obligation, fair value of plan assets and a reconciliation of the pension plans’ funded status as of November 30, the measurement date, follows:
  
United StatesInternational
(millions)2021202020212020
Change in benefit obligation:
Benefit obligation at beginning of year$958.0 $884.8 $371.7 $345.6 
Service cost3.7 3.2 1.1 1.3 
Interest costs25.9 29.3 7.1 7.5 
Plan amendments— — 0.5 — 
Actuarial (gain) loss(21.9)82.1 (7.4)19.1 
Benefits paid(44.2)(41.4)(16.6)(14.1)
Expenses paid— — — (0.2)
Foreign currency impact— — (1.7)12.5 
Benefit obligation at end of year$921.5 $958.0 $354.7 $371.7 
Change in fair value of plan assets:
Fair value of plan assets at beginning of year$688.2 $671.9 $368.7 $340.9 
Actual return on plan assets96.6 47.3 47.1 28.6 
Employer contributions13.4 10.4 1.6 1.5 
Benefits paid(44.2)(41.4)(16.6)(14.1)
Foreign currency impact— — (2.4)11.8 
Fair value of plan assets at end of year$754.0 $688.2 $398.4 $368.7 
Funded status$(167.5)$(269.8)$43.7 $(3.0)
Pension plans in which accumulated benefit obligation exceeded plan assets
Projected benefit obligation$921.5 $958.0 $19.7 $110.4 
Accumulated benefit obligation912.3 945.1 16.3 106.5 
Fair value of plan assets754.0 688.2 1.8 87.7 
Rollforwards of the benefit obligation, fair value of plan assets and a reconciliation of the plans’ funded status at November 30, the measurement date, follow:
(millions)20212020
Change in benefit obligation:
Benefit obligation at beginning of year$70.7 $67.2 
Service cost2.0 1.9 
Interest costs1.6 2.0 
Participant contributions2.0 2.1 
Actuarial (gain) loss(4.3)3.9 
Benefits paid(6.1)(6.4)
Benefit obligation at end of year$65.9 $70.7 
Change in fair value of plan assets:
Fair value of plan assets at beginning of year
$— $— 
Employer contributions4.1 4.3 
Participant contributions2.0 2.1 
Benefits paid(6.1)(6.4)
Fair value of plan assets at end of year$— $— 
Other postretirement benefit liability$65.9 $70.7 
Amounts Recorded In Balance Sheet, Defined Benefit Pension Plans Amounts recorded in the balance sheet for all defined benefit pension plans as of November 30 consist of the following:
  
United StatesInternational    
(millions)2021202020212020
Non-current pension asset$— $— $61.6 $19.6 
Accrued pension liability167.5 269.8 18.0 22.6 
Deferred income tax assets52.9 74.0 3.9 14.3 
Accumulated other comprehensive loss, net of tax167.8 235.5 32.2 63.7 
Allocations Of Pension Plan Assets
The allocations of U.S. pension plan assets as of November 30, by asset category, were as follows:
  
Actual2021
Asset Category20212020Target
Equity securities62.2 %63.2 %59.0 %
Fixed income securities20.9 %22.0 %23.2 %
Other16.9 %14.8 %17.8 %
Total100.0 %100.0 %100.0 %
The allocations of the international pension plans’ assets as of November 30, by asset category, were as follows:
  
Actual2021
Asset Category20212020Target    
Equity securities40.5 %50.9 %41.0 %
Fixed income securities59.1 %48.3 %59.0 %
Other0.4 %0.8 %— %
Total100.0 %100.0 %100.0 %
Fair Value Of Pension Plan Assets
The following tables set forth by level, within the fair value hierarchy as described in note 9, pension plan assets at their fair value as of November 30 for the United States and international plans:
As of November 30, 2021United States
(millions)Total
fair
value		Level 1Level 2
Cash and cash equivalents$34.4 $34.4 $— 
Equity securities:
U.S. equity securities(a)
290.7 147.5 143.2 
International equity securities(b)
170.2 161.7 8.5 
Fixed income securities:
U.S. government/corporate bonds(c)
86.9 84.4 2.5 
High yield bonds(d)
41.0 — 41.0 
Insurance contracts(f)
1.1 — 1.1 
Other types of investments:
Real estate (g)
31.4 27.1 4.3 
Natural resources (h)
13.3 — 13.3 
Total $669.0 $455.1 $213.9 
Investments measured at net asset value(i)
Hedge funds(j)
48.0 
Private equity funds(k)
8.3 
Private debt funds(l)
28.7 
Total investments$754.0 
 
As of November 30, 2021International
(millions)Total
fair
value		Level 1Level 2
Cash and cash equivalents$1.6 $1.6 $— 
International equity securities(b)
161.3 — 161.3 
Fixed income securities:
  International/government/corporate bonds(e)
214.1 — 214.1 
Insurance contracts(f)
21.4 — 21.4 
Total investments$398.4 $1.6 $396.8 
As of November 30, 2020United States
(millions)Total 
fair  
value 		Level 1Level 2
Cash and cash equivalents$28.1 $28.1 $— 
Equity securities:
U.S. equity securities(a)
271.1 138.2 132.9 
International equity securities(b)
159.2 147.6 11.6 
Fixed income securities:
U.S./government/ corporate bonds(c)
57.1 54.9 2.2 
High yield bonds(d)
37.3 — 37.3 
International/government/ corporate bonds(e)
29.1 29.1 — 
Insurance contracts(f)
1.1 — 1.1 
Other types of investments:
Real estate (g)
24.5 20.6 3.9 
Natural resources (h)
9.7 — 9.7 
Total $617.2 $418.5 $198.7 
Investments measured at net asset value(i)
Hedge funds(j)
39.5 
Private equity funds(k)
4.8 
Private debt funds(l)
26.7 
Total investments$688.2 
As of November 30, 2020International
(millions)Total 
fair   
value 		Level 1Level 2
Cash and cash equivalents$3.1 $3.1 $— 
International equity securities(b)
187.6 — 187.6 
Fixed income securities:
International/government/corporate bonds(e)
155.4 — 155.4 
Insurance contracts(f)
22.6 — 22.6 
Total investments$368.7 $3.1 $365.6 
(a)This category comprises equity funds and collective equity trust funds that most closely track the S&P index and other equity indices.
(b)This category comprises international equity funds with varying benchmark indices.
(c)This category comprises funds consisting of U.S. government and U.S. corporate bonds and other fixed income securities. An appropriate benchmark is the Barclays Capital Aggregate Bond Index.
(d)This category comprises funds consisting of real estate related debt securities with an appropriate benchmark of the Barclays Investment Grade CMBS Index.
(e)This category comprises funds consisting of international government/corporate bonds and other fixed income securities with varying benchmark indices.
(f)This category comprises insurance contracts, the majority of which have a guaranteed investment return.
(g)This category comprises funds investing in real estate investment trusts (REIT). An appropriate benchmark is the MSCI U.S. REIT Index.
(h)This category comprises funds investing in natural resources. An appropriate benchmark is the Alerian master limited partnership (MLP) Index.
(i)Certain investments that are valued using the net asset value per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. These are included to permit reconciliation of the fair value hierarchy to the aggregate pension plan assets.
(j)This category comprises hedge funds investing in strategies represented in various HFRI Fund Indices. The net asset value is generally based on the valuation of the underlying investment. Limitations exist on the timing from notice by the plan of its intent to redeem and actual redemptions of these funds and generally range from a minimum of one month to several months.
(k)This category comprises private equity, venture capital and limited partnerships. The net asset is based on valuation models of the underlying securities as determined by the general partner or general partner's designee. These valuation models include unobservable inputs that cannot be corroborated using verifiable observable market data. These funds typically have redemption periods of approximately 10 years.
(l)This category comprises limited partnerships funds investing in senior loans, mezzanine and distressed debt. The net asset is based on valuation models of the underlying securities as determined by the general partner or general partner's designee. These valuation models include unobservable inputs that cannot be corroborated using verifiable observable market data. These funds typically have redemption periods of approximately 10 years.
Schedule of Expected Benefit Payments Pension benefit payments in our most significant plans are made from assets of the pension plans. It is anticipated that future benefit payments for the U.S. and international plans for the next 10 fiscal years will be as follows:
(millions)United StatesInternational
2022$43.9 $12.0 
202344.1 12.6 
202446.2 12.8 
202548.6 13.0 
202648.9 13.3 
2027-2031253.8 68.4 
Estimated future benefit payments (net of employee contributions) for the next 10 fiscal years are as follows:
(millions)Retiree
medical		Retiree life
insurance		Total
2022$3.5 $1.7 $5.2 
20233.5 1.6 5.1 
20243.5 1.5 5.0 
20253.5 1.5 5.0 
20263.5 1.4 4.9 
2027-203116.7 6.3 23.0