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Debt (Tables)
 12 Months Ended
Nov. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Debt
November 30,
(in millions)MaturityRate (a)20242023
Secured Subsidiary Guaranteed
Notes
NotesJun 20277.9%$192 $192 
Notes (b)Aug 20279.9%— 623 
NotesAug 20284.0%2,406 2,406 
NotesAug 20297.0%500 500 
Loans
EUR floating rate (b)Jun 2025
EURIBOR + 3.8%
— 851 
Floating rateAug 2027 - Oct 2028
SOFR + 2.8% (c)
2,449 3,567 
          Total Secured Subsidiary Guaranteed5,547 8,138 
Senior Priority Subsidiary Guaranteed
NotesMay 202810.4%2,030 2,030 
Unsecured Subsidiary Guaranteed
Notes
Convertible NotesOct 20245.8%— 426 
NotesMar 20267.6%1,351 1,351 
EUR Notes (b)Mar 20267.6%— 550 
Notes (b)Mar 20275.8%2,722 3,100 
Convertible NotesDec 20275.8%1,131 1,131 
NotesMay 20296.0%2,000 2,000 
EUR NotesJan 20305.8%528 — 
NotesJun 203010.5%1,000 1,000 
Loans
EUR floating rate (b) (d)Apr 2025
EURIBOR + 3.3%
211 678 
Export Credit Facilities
Floating rateDec 2031
SOFR + 1.2% (e)
514 583 
Fixed rateAug 2027 - Dec 2032
2.4 - 3.4%
2,370 2,756 
EUR floating rateMar 2025 - Nov 2034
EURIBOR + 0.2 - 0.8%
2,590 3,086 
EUR fixed rateFeb 2031 - Sep 2037
1.1 - 4.0%
5,386 3,652 
          Total Unsecured Subsidiary Guaranteed19,803 20,312 
Unsecured Notes (No Subsidiary Guarantee)
NotesJan 20286.7%200 200 
EUR NotesOct 20291.0%633 659 
          Total Unsecured Notes (No Subsidiary Guarantee)833 859 
Total Debt28,213 31,339 
Less: unamortized debt issuance costs and discounts(738)(768)
Total Debt, net of unamortized debt issuance costs and discounts27,475 30,572 
Less: current portion of long-term debt(1,538)(2,089)
Long-Term Debt$25,936 $28,483 

(a)The reference rates, together with any applicable credit adjustment spread, for substantially all of our variable debt have 0.0% to 0.75% floors.
(b)See “Debt Prepayments” below.
(c)As part of the repricing of our senior secured term loans, we amended the loans’ margin from 3.0% – 3.4% (inclusive of credit adjustment spread) to 2.8%. See “Repricing of senior secured term loans” below.
(d)The maturity of the principal amount of $211 million was extended from April 2024 to April 2025.
(e)Includes applicable credit adjustment spread.
The net carrying value of the Convertible Notes was as follows:
November 30,
(in millions)20242023
Principal$1,131 $1,557 
Less: Unamortized debt discount and debt issue costs(19)(27)
$1,112 $1,530 

The interest expense recognized related to the Convertible Notes was as follows:
November 30,
(in millions)202420232022
Contractual interest expense$86 $91 $32 
Amortization of debt discount and debt issue costs8 9 29 
$94 $100 $61 
Schedule of Annual Maturities of Debt
As of November 30, 2024, the scheduled maturities of our debt are as follows:
(in millions)
YearPrincipal Payments
2025$1,538 
20262,683 
20274,894 
20288,726 
20294,328 
Thereafter6,044 
Total$28,213