Fair Value Measurements (Tables)

6 Months Ended

May 31, 2023

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on recurring basis

Our population of financial assets and liabilities subject to fair value measurements on a recurring basis are as follows (in millions):

			May 31, 2023
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	127.4	$	127.4	$	—
Insurance contracts	110.8		—		110.8
Bonds and other long-term investments	3.9		3.9		—
Foreign currency derivatives	8.8		—		8.8
Cross currency contracts	32.9		—		32.9
Total	$	283.8	$	131.3	$	152.5
Liabilities
Foreign currency derivatives	$	11.1	$	—	$	11.1
Interest rate derivatives	44.3		—		44.3
Cross currency contracts	6.4		—		6.4
Total	$	61.8	$	—	$	61.8

 

			November 30, 2022
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	334.0	$	334.0	$	—
Insurance contracts	110.0		—		110.0
Bonds and other long-term investments	5.1		5.1		—
Foreign currency derivatives	11.0		—		11.0
Cross currency contracts	44.5		—		44.5
Total	$	504.6	$	339.1	$	165.5
Liabilities
Foreign currency derivatives	$	1.5	$	—	$	1.5
Interest rate derivatives	42.4		—		42.4
Cross currency contracts	8.3		—		8.3
Total	$	52.2	$	—	$	52.2

Fair Value, by Balance Sheet Grouping

The following table sets forth the carrying amounts and fair values of our long-term debt including the current portion thereof (in millions):

	May 31, 2023		November 30, 2022
Carrying amount	$	4,403.3	$	3,912.9
Level 1 valuation techniques	$	3,936.8	$	3,424.8
Level 2 valuation techniques	167.9		176.1
Total fair value	$	4,104.7	$	3,600.9