Business Segment Information

3 Months Ended

Mar. 01, 2015

Segment Reporting [Abstract]

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION

The Company manages its business according to three regional segments: the Americas, Europe and Asia. The Company considers its chief executive officer to be the Company’s chief operating decision maker. The Company’s chief operating decision maker manages business operations, evaluates performance and allocates resources based on the regional segments’ net revenues and operating income.

Effective as of the beginning of 2015, the Company's regional licensing revenue, previously recorded centrally in the Company's Americas region, was revised to be recorded in the Company's respective regions. Regional licensing revenues are not significant to any of the Company's regional segments individually in any of the periods presented herein, and accordingly, business segment information for the prior-year period has not been revised.

Business segment information for the Company is as follows:

	Three Months Ended
	March 1, 2015			February 23, 2014
	(Dollars in thousands)
Net revenues:
Americas	$	574,087		$	626,836
Europe	277,488			300,426
Asia	203,500			202,728
Total net revenues	$	1,055,075		$	1,129,990
Operating income:
Americas	$	102,292		$	111,052
Europe	58,189			71,406
Asia	47,340			46,902
Regional operating income	207,821			229,360
Corporate:
Restructuring, net	4,338			57,935
Restructuring-related charges	8,007			6,441
Other corporate staff costs and expenses	88,031			71,328
Corporate expenses	100,376			135,704
Total operating income	107,445			93,656
Interest expense	(23,312		)	(31,829		)
Other income (expense), net	(26,028		)	4,183
Income before income taxes	$	58,105		$	66,010