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Stock-Based Incentive Compensation Plans (Tables)
 12 Months Ended
Nov. 27, 2022
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Stock appreciation rights award activity SARs activity during the year ended November 27, 2022 was as follows:
Service SARsPerformance SARs
UnitsWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Life (Years)Aggregate Intrinsic ValueUnitsWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Life (Years)Aggregate Intrinsic Value
(Units in thousands and dollars in millions, except weighted-average exercise price)
Outstanding at November 28, 20215,791 $11.50 4.42,787 $6.10 1.2
Granted777 21.00 — — 
Exercised(602)6.51 (251)6.10 
Forfeited(101)20.36 — — 
Outstanding at November 27, 20225,865 $13.12 4.42,536 $6.10 0.2
Vested and expected to vest at November 27, 20225,857 $13.11 4.4$26.6 2,536 $6.10 0.2$25.4 
Exercisable at November 27, 20224,126 $10.23 2.3$26.2 2,536 $6.10 0.2$25.4 
November 27, 2022November 28, 2021November 29, 2020
(Dollars in millions)
Aggregate intrinsic value of Service SARs exercised during the year$6.4 $119.5 $44.1 
Aggregate intrinsic value of Performance SARs exercised during the year$2.9 $45.4 $31.0 
Stock appreciation rights, valuation assumptions The weighted-average grant date fair values and corresponding weighted-average assumptions used in the Black-Scholes option valuation model were as follows:
Service SARs Granted
202220212020
Weighted-average grant date fair value$8.49 $9.88 $6.44 
Weighted-average assumptions:
Expected life (in years)7.17.17.0
Expected volatility46.7 %49.3 %36.6 %
Risk-free interest rate1.7 %0.8 %1.4 %
Expected dividend1.9 %0.8 %1.6 %
The weighted-average grant date fair value and corresponding weighted-average assumptions used in the Monte Carlo valuation models were as follows:
Performance RSUs Granted
202220212020
Weighted-average grant date fair value$21.38 $27.33 $25.87 
Weighted-average assumptions:
Expected life (in years)2.82.82.8
Expected volatility51.4 %54.3 %37.6 %
Risk-free interest rate1.2 %0.2 %1.4 %
Expected dividend1.9 %0.8 %1.5 %
Restricted stock units award activity Service and Performance RSU activity during the year ended November 27, 2022 was as follows:
Service RSUsPerformance RSUs
UnitsWeighted-Average Grant Date Fair ValueWeighted-Average Remaining Contractual Life (Years)UnitsWeighted-Average Grant Date Fair ValueWeighted-Average Remaining Contractual Life (Years)
(Units in thousands)
Outstanding at November 28, 20214,095 $19.02 2.42,435 $24.81 1.5
Granted2,491 19.35 1,000 21.38 
Vested(1,773)17.72 (1,334)21.08 
Performance adjustment— — 424 20.89 
Forfeited(379)20.29 (182)25.27 
Outstanding at November 27, 20224,434 $19.62 2.52,343 $24.81 1.5