Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Aug. 26, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Carrying values of derivative instruments and non-derivative instruments

The table below provides data about the carrying values of derivative instruments and non-derivative instruments:

	August 26, 2012								November 27, 2011
	Assets		(Liabilities)			Derivative Net Carrying Value			Assets		(Liabilities)			Derivative Net Carrying Value
	Carrying Value		Carrying Value						Carrying Value		Carrying Value
	(Dollars in thousands)
Derivatives not designated as hedging instruments
Forward foreign exchange contracts(1)	$	18,037	$	(7,047	)	$	10,990		$	31,906	$	(5,914	)	$	25,992
Forward foreign exchange contracts(2)	2,040		(5,207		)	(3,167		)	4,547		(9,803		)	(5,256		)
Total	$	20,077	$	(12,254	)				$	36,453	$	(15,717	)
Non-derivatives designated as hedging instruments
4.25% Yen-denominated Eurobonds due 2016	$	—	$	(45,356	)				$	—	$	(46,115	)
7.75% Euro senior notes due 2018	—		(376,920		)				—		(400,350		)
Total	$	—	$	(422,276	)				$	—	$	(446,465	)

_____________

(1) Included in “Other current assets” or “Other non-current assets” on the Company’s consolidated balance sheets.

(2) Included in “Other accrued liabilities” on the Company’s consolidated balance sheets.

Gains and losses included in AOCI

The table below provides data about the amount of gains and losses related to derivative instruments and non-derivative instruments designated as net investment hedges included in “Accumulated other comprehensive loss” (“AOCI”) on the Company’s consolidated balance sheets, and in “Other income (expense), net” in the Company’s consolidated statements of income:

	Gain or (Loss) Recognized in AOCI (Effective Portion)						Gain or (Loss) Recognized in Other Income (Expense), net (Ineffective Portion and Amount Excluded from Effectiveness Testing)
	As of			As of			Three Months Ended						Nine Months Ended
	August 26, 2012			November 27, 2011			August 26, 2012			August 28, 2011			August 26, 2012	August 28, 2011
	(Dollars in thousands)
Forward foreign exchange contracts	$	4,637		$	4,637		$	—		$	—		—	—
4.25% Yen-denominated Eurobonds due 2016	(27,708		)	(28,525		)	(79		)	(3,161		)	2,444	(4,707	)
7.75% Euro senior notes due 2018	149			(23,281		)	—			—			—	—
Cumulative income taxes	9,068			18,476
Total	$	(13,854	)	$	(28,693	)

Gains and losses included in statements of income

The table below provides data about the amount of gains and losses related to derivatives not designated as hedging instruments included in “Other income (expense), net” in the Company’s consolidated statements of income:

	Gain or (Loss)
	Three Months Ended						Nine Months Ended
	August 26, 2012			August 28, 2011			August 26, 2012			August 28, 2011
	(Dollars in thousands)
Forward foreign exchange contracts:
Realized	$	1,029		$	(3,389	)	$	3,559		$	(8,252	)
Unrealized	(16,413		)	8,008			(12,862		)	7,040
Total	$	(15,384	)	$	4,619		$	(9,303	)	$	(1,212	)