Financing Arrangements and Financial Instruments (Tables)

3 Months Ended

Feb. 28, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Open Forward Foreign Currency Contract

The following is a summary of the notional amounts of outstanding foreign currency exchange contracts as of February 28, 2026 and November 30, 2025 (in millions):

	February 28, 2026		November 30, 2025
Fair value hedges	$	888.4	$	877.3
Cash flow hedges	160.4		140.9
Foreign exchange contracts not designated as hedging instruments	72.7		—
Total	$	1,121.5	$	1,018.2

Fair values of derivative instruments on balance sheet

The following table discloses the notional amount and fair values of derivative instruments on our balance sheet (in millions):

	Asset Derivatives					Liability Derivatives
	Balance sheet location	Notional amount		Fair value		Balance sheet location	Notional amount		Fair value
As of February 28, 2026
Derivatives designated as hedging instruments
Interest rate contracts	Other current assets / Other long-term assets	$	—	$	—	Other accrued liabilities / Other long-term liabilities	$	500.0	$	18.6
Foreign exchange contracts	Other current assets	597.0		9.5		Other accrued liabilities	451.8		6.9
Cross currency contracts	Other current assets / Other long-term assets	247.9		3.8		Other accrued liabilities / Other long-term liabilities	782.5		23.2
Commodity contracts	Other current assets / Other long-term assets	240.7		34.3		Other accrued liabilities / Other long-term liabilities	103.4		7.5
Derivatives not designated as hedging instruments
Foreign exchange contracts	Other current assets	8.6		0.1		Other accrued liabilities	64.1		6.2
Total				$	47.7				$	62.4
As of November 30, 2025
Derivatives designated as hedging instruments
Interest rate contracts	Other current assets / Other long-term assets	$	—	$	—	Other accrued liabilities / Other long-term liabilities	$	500.0	$	20.8
Foreign exchange contracts	Other current assets	894.6		6.5		Other accrued liabilities	123.6		0.7
Cross currency contracts	Other current assets / Other long-term assets	500.8		8.5		Other long-term liabilities	511.1		18.1
Total				$	15.0				$	39.6

Impact of fair value and cash flow hedges on other comprehensive income, accumulated other comprehensive income and income statement

The following tables disclose the impact of derivative instruments on our other comprehensive income (OCI), accumulated other comprehensive income (AOCI), and our consolidated income statement for the three months ended February 28, 2026 and 2025 (in millions):

Fair Value Hedges
Derivative	Income statement location	Expense
		Three months ended February 28, 2026		Three months ended February 28, 2025
Interest rate contracts	Interest expense	$	2.0	$	3.7

		Gain (loss) recognized in income					Income statement location	Loss recognized in income
Derivative		Three months ended February 28, 2026		Three months ended February 28, 2025		Hedged item		Three months ended February 28, 2026		Three months ended February 28, 2025
Foreign exchange contracts	Other income, net	$	0.9	$	(0.6)	Intercompany loans	Other income, net	$	(1.7)	$	(0.6)

Cash Flow Hedges
	Gain (loss) recognized in OCI				Income statement location	Gain (loss) reclassified from AOCI
Derivative	Three months ended February 28, 2026		Three months ended February 28, 2025			Three months ended February 28, 2026		Three months ended February 28, 2025
Interest rate contracts	$	—	$	—	Interest expense	$	(0.1)	$	(0.1)
Foreign exchange contracts	(1.8)		(0.8)		Cost of goods sold	0.6		(0.1)
Commodity contracts	33.6		—		Cost of goods sold	(1.5)		—
Total	$	31.8	$	(0.8)		$	(1.0)	$	(0.2)

Net Investment Hedges
	Gain (loss) recognized in OCI				Income statement location	Gain excluded from the assessment of hedge effectiveness
Derivative	Three months ended February 28, 2026		Three months ended February 28, 2025			Three months ended February 28, 2026		Three months ended February 28, 2025
Cross currency contracts	$	(9.4)	$	8.1	Interest expense	$	2.0	$	2.5