Acquisitions (Tables)

12 Months Ended

Nov. 26, 2023

Business Combinations [Abstract]

Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of the Beyond Yoga® assets acquired and liabilities assumed at the date of acquisition:

	September 21, 2021
	(Dollars in millions)
Cash	$	1.5
Accounts receivable	5.0
Inventory(1)	18.7
Prepaid expenses and other current assets	0.5
Property, plant and equipment	0.7
Operating lease right-of-use assets	5.9
Goodwill	123.7
Intangible assets	245.5
Other non-current assets	0.5
Total assets acquired	402.0
Accounts payable	4.3
Other accrued liabilities	2.2
Operating lease liabilities	5.9
Total liabilities assumed	12.4
Net assets acquired	$	389.6

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(1)Includes $5.9 million of inventory markup above historical carrying value.

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The fair value of the separately identifiable intangible assets, and their estimated useful lives as of the acquisition date were as follows:

	Estimated Fair Value		Weighted Average Estimated Useful Life (years)
	(Dollars in millions)
Intangible Assets:
Trademark	$	216.0	Indefinite
Customer Relationships	29.5		8.2 years
Total	$	245.5

Acquisition Related Expenses

The following table summarizes the acquisition-related expenses recognized during fiscal years 2023, 2022 and 2021:

	November 26, 2023		November 27, 2022		November 28, 2021
	(Dollars in millions)
Acquisition-related expenses:
Transaction and integration costs	$	—	$	0.8	$	2.8
Acquisition-related compensation	5.0		5.0		1.0
Total	$	5.0	$	5.8	$	3.8