Other Income (Expense), Net

3 Months Ended

Mar. 01, 2015

Other Income and Expenses [Abstract]

OTHER INCOME (EXPENSE), NET

OTHER INCOME (EXPENSE), NET

The following table summarizes significant components of “Other income (expense), net”:

	Three Months Ended
	March 1, 2015			February 23, 2014
	(Dollars in thousands)
Foreign exchange management gains(1)	$	7,908		$	4,436
Foreign currency transaction losses(2)	(35,959		)	(2,238		)
Interest income	460			627
Investment income	439			307
Other	1,124			1,051
Total other income (expense), net	$	(26,028	)	$	4,183

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(1) Gains and losses on forward foreign exchange contracts primarily result from currency fluctuations relative to negotiated contract rates. Gains in 2015 were primarily due to favorable currency fluctuations relative to negotiated contracts rates on positions to sell the Mexican Peso.

(2) Foreign currency transaction gains and losses reflect the impact of foreign currency fluctuation on the Company's foreign currency denominated balances. Losses in 2015 were primarily due to the weakening of various foreign currencies, particularly the Euro, against the U.S. Dollar.