Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Aug. 25, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

The changes in the carrying amount of goodwill by business segment for the nine months ended August 25, 2024 and August 27, 2023 were as follows:

	Nine Months Ended August 25, 2024
	Americas		Europe		Asia		Other Brands(1)		Total
	(Dollars in millions)
Balance, November 26, 2023
Goodwill	$	231.7	$	32.6	$	2.8	$	123.6	390.7
Accumulated impairment losses	—		(11.6)		—		(75.4)		(87.0)
	231.7		21.0		2.8		48.2		303.7
Impairment losses(2)	—		(5.5)		—		(36.3)		(41.8)
Goodwill acquired during the year(3)	15.9		5.0		—		—		20.9
Foreign currency fluctuation	(2.7)		0.6		0.1		—		(2.0)
Balance, August 25, 2024
Goodwill	244.9		38.2		2.9		123.6		409.6
Accumulated impairment losses	—		(17.1)		—		(111.7)		(128.8)
	$	244.9	$	21.1	$	2.9	$	11.9	$	280.8

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(1)Comprised of the Beyond Yoga® reporting unit goodwill only.

(2)For the nine months ended August 25, 2024 the Company recorded a Beyond Yoga® goodwill noncash impairment charge of $36.3 million.

(3)For the nine months ended August 25, 2024 the Company recorded goodwill of $15.9 million in connection with the acquisition of all operating assets related to Levi’s® brands from Expofaro S.A.S, the Company’s former distributor in Colombia.

	Nine Months Ended August 27, 2023
	Americas		Europe		Asia		Other Brands(1)		Total
	(Dollars in millions)
Balance, November 27, 2022
Goodwill	$	229.5	$	21.3	$	2.9	$	123.6	$	377.3
Accumulated impairment losses	—		(11.6)		—		—		(11.6)
	229.5		9.7		2.9		123.6		365.7
Impairment losses(2)	—		—		—		(75.4)		(75.4)
Goodwill acquired during the year	1.1		7.3		—		—		8.4
Foreign currency fluctuation	1.7		0.4		(0.1)		—		2.0
Balance, August 27, 2023
Goodwill	232.3		29.0		2.8		123.6		387.7
Accumulated impairment losses	—		(11.6)		—		(75.4)		(87.0)
	$	232.3	$	17.4	$	2.8	$	48.2	$	300.7

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(1)Comprised of the Beyond Yoga® reporting unit goodwill only.

(2)For the nine months ended August 27, 2023 the company recorded a Beyond Yoga® goodwill noncash impairment charge of $75.4 million.

Finite-lived intangible assets

Other intangible assets, net, were as follows:

	August 25, 2024						November 26, 2023
	Gross Carrying Value		Accumulated Amortization		Total		Gross Carrying Value		Accumulated Amortization		Total
	(Dollars in millions)
Non-amortized intangible assets:
Trademarks(1)	$	177.9	$	—	$	177.9	$	243.9	$	—	$	243.9
Amortized intangible assets:
Customer relationships and other(2)	38.8		(18.3)		20.5		38.3		(14.6)		23.7
Total	$	216.7	$	(18.3)	$	198.4	$	282.2	$	(14.6)	$	267.6

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(1)For the nine months ended August 25, 2024 the Company recorded a Beyond Yoga® trademark noncash impairment charge of $66.0 million based on a Level 3 fair value of $135.1 million.

For the nine months ended August 27, 2023 the Company recorded a Beyond Yoga® trademark noncash impairment charge of $14.8 million based on a Level 3 fair value of $201.1 million.

(2)For the nine months ended August 25, 2024 the Company recorded a Beyond Yoga® customer relationship intangible assets noncash impairment charge of $9.1 million based on a Level 3 fair value of $9.7 million.

Indefinite-lived intangible assets

Other intangible assets, net, were as follows:

	August 25, 2024						November 26, 2023
	Gross Carrying Value		Accumulated Amortization		Total		Gross Carrying Value		Accumulated Amortization		Total
	(Dollars in millions)
Non-amortized intangible assets:
Trademarks(1)	$	177.9	$	—	$	177.9	$	243.9	$	—	$	243.9
Amortized intangible assets:
Customer relationships and other(2)	38.8		(18.3)		20.5		38.3		(14.6)		23.7
Total	$	216.7	$	(18.3)	$	198.4	$	282.2	$	(14.6)	$	267.6

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(1)For the nine months ended August 25, 2024 the Company recorded a Beyond Yoga® trademark noncash impairment charge of $66.0 million based on a Level 3 fair value of $135.1 million.

For the nine months ended August 27, 2023 the Company recorded a Beyond Yoga® trademark noncash impairment charge of $14.8 million based on a Level 3 fair value of $201.1 million.

(2)For the nine months ended August 25, 2024 the Company recorded a Beyond Yoga® customer relationship intangible assets noncash impairment charge of $9.1 million based on a Level 3 fair value of $9.7 million.