Leases (Tables)

12 Months Ended

Nov. 30, 2025

Leases [Abstract]

Lease Cost

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

	2025		2024		2023
Operating lease cost	$	77.0	$	75.7	$	74.6
Finance lease cost:
Amortization of ROU assets	9.1		9.0		9.0
Interest on lease liabilities	3.4		3.7		3.9
Net lease cost (1)	$	89.5	$	88.4	$	87.5
(1) Net lease cost does not include short-term leases or sublease income, both of which are immaterial.

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

	2025		2024		2023
Cash paid for amounts included in the measurements of lease liabilities:
Operating cash flows used for operating leases	$	68.3	$	66.8	$	64.5
Operating cash flows used for finance leases	3.4		3.7		3.9
Financing cash flows used for finance leases	8.4		8.0		7.6
ROU assets obtained in exchange for lease liabilities
Operating leases	$	60.0	$	47.6	$	52.1

Supplemental Balance Sheet Information

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

Leases	Classification	2025		2024
Assets:
Operating lease ROU assets	Other long-term assets	$	216.8	$	211.0
Finance lease ROU assets	Property, plant and equipment, net	77.5		86.1
Total leased assets		$	294.3	$	297.1
Liabilities:
Current
Operating	Other accrued liabilities	$	58.9	$	55.7
Finance	Current portion of long-term debt	9.3		8.8
Non-current
Operating	Other long-term liabilities	167.7		166.6
Finance	Long-term debt	85.7		94.5
Total lease liabilities		$	321.6	$	325.6

Information Regarding Lease Terms and Discount Rates

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

	2025			2024
	Weighted-average remaining lease term (years)	Weighted-average discount rate		Weighted-average remaining lease term (years)	Weighted-average discount rate
Operating leases	5.5	4.2	%	5.2	3.9	%
Finance leases	9.3	3.5	%	10.2	3.4	%

Lease Maturity

The future maturity of our lease liabilities as of November 30, 2025 were as follows (in millions):

	Operating leases		Finance leases		Total
2026	66.7		12.0		78.7
2027	62.7		12.2		74.9
2028	31.5		12.5		44.0
2029	22.9		12.7		35.6
2030	18.0		13.0		31.0
Thereafter	52.6		56.2		108.8
Total lease payments	254.4		118.6		373.0
Less: Imputed interest	27.8		23.6		51.4
Total lease liabilities	$	226.6	$	95.0	$	321.6

Lease Maturity

The future maturity of our lease liabilities as of November 30, 2025 were as follows (in millions):

	Operating leases		Finance leases		Total
2026	66.7		12.0		78.7
2027	62.7		12.2		74.9
2028	31.5		12.5		44.0
2029	22.9		12.7		35.6
2030	18.0		13.0		31.0
Thereafter	52.6		56.2		108.8
Total lease payments	254.4		118.6		373.0
Less: Imputed interest	27.8		23.6		51.4
Total lease liabilities	$	226.6	$	95.0	$	321.6