Stock-Based Incentive Compensation Plans (Tables)

12 Months Ended

Nov. 26, 2023

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Stock appreciation rights award activity

Service SARs activity during the year ended November 26, 2023 was as follows:

	Service SARs
	Units	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
	(Units in thousands and dollars in millions, except weighted-average exercise price)
Outstanding at November 27, 2022	5,865	$	13.12	4.4
Granted	2,465	16.47
Exercised	(717)	6.51
Forfeited	(54)	18.49
Outstanding at November 26, 2023	7,559	$	14.80	5.5
Vested and expected to vest at November 26, 2023	7,548	$	14.80	5.5	$	17.6
Exercisable at November 26, 2023	4,133	$	12.39	2.9	$	17.4

	November 26, 2023		November 27, 2022		November 28, 2021
	(Dollars in millions)
Aggregate intrinsic value of Service SARs exercised during the year	$	6.9	$	6.4	$	119.5
Aggregate intrinsic value of Performance SARs exercised during the year	$	28.9	$	2.9	$	45.4

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
	2023			2022			2021
Weighted-average grant date fair value	$	6.58		$	8.49		$	9.88
Weighted-average assumptions:
Expected life (in years)	7.0			7.1			7.1
Expected volatility	48.0		%	46.7		%	49.3		%
Risk-free interest rate	3.8		%	1.7		%	0.8		%
Expected dividend	2.9		%	1.9		%	0.8		%

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
	2023			2022			2021
Weighted-average grant date fair value	$	19.83		$	21.38		$	27.33
Weighted-average assumptions:
Expected life (in years)	2.8			2.8			2.8
Expected volatility	49.6		%	51.4		%	54.3		%
Risk-free interest rate	3.9		%	1.2		%	0.2		%
Expected dividend	2.7		%	1.9		%	0.8		%

Restricted stock units award activity

Service and Performance RSU activity during the year ended November 26, 2023 was as follows:

	Service RSUs				Performance RSUs
	Units	Weighted-Average Grant Date Fair Value		Weighted-Average Remaining Contractual Life (Years)	Units	Weighted-Average Grant Date Fair Value		Weighted-Average Remaining Contractual Life (Years)
	(Units in thousands)
Outstanding at November 27, 2022	4,434	$	19.62	2.5	2,343	$	24.81	1.5
Granted	3,658	16.02			1,478	19.53
Vested	(1,943)	18.68			(586)	26.64
Performance adjustment	—	—			(124)	26.75
Forfeited	(518)	18.60			(163)	21.63
Outstanding at November 26, 2023	5,631	$	17.69	2.3	2,948	$	21.83	1.6