Fair Value Measurements (Tables)

6 Months Ended

May 31, 2026

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, 2026
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	331.2		$	331.2	—
Insurance contracts	132.4		—		132.4
Bonds and money market fund investments	5.4		5.4		—
Foreign currency derivatives	4.5		—		4.5
Cross currency contracts	4.7		—		4.7
Commodity contracts	72.6		53.5		19.1
Total	$	550.8	$	390.1	160.7
Liabilities
Foreign currency derivatives	$	1.1	$	—	$	1.1
Interest rate derivatives	23.7		—		23.7
Cross currency contracts	20.0		—		20.0
Commodity contracts	16.7		16.7		—
Total	$	61.5	$	16.7	$	44.8

 

			November 30, 2025
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	95.9	$	95.9	$	—
Insurance contracts	131.0		—		131.0
Bonds and money market fund investments	1.9		1.9		—
Foreign currency derivatives	6.5		—		6.5
Cross currency contracts	8.5		—		8.5
Total	$	243.8	$	97.8	$	146.0
Liabilities
Foreign currency derivatives	$	0.7	$	—	$	0.7
Interest rate derivatives	20.8		—		20.8
Cross currency contracts	18.1		—		18.1
Total	$	39.6	$	—	$	39.6

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, 2026		November 30, 2025
Carrying amount	$	3,606.9	$	3,614.9
Level 1 valuation techniques	$	3,355.3	$	3,401.1
Level 2 valuation techniques	100.6		104.8
Total fair value	$	3,455.9	$	3,505.9