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Business Segment Information
 12 Months Ended
Dec. 01, 2024
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
The Company manages its business according to three reportable segments: Americas, Europe, and Asia, collectively comprising the Company's Levi's Brands business, which includes the Levi's®, Levi Strauss Signature™ and Denizen® brands. Other Brands, which includes Dockers® and Beyond Yoga® businesses do not meet the quantitative thresholds for reportable segments and therefore are presented under the caption of Other Brands. Effective in the second quarter of 2024, Dockers® and Beyond Yoga® businesses are disclosed as separate lines under the caption “Other Brands” to increase transparency of performance. Prior periods were adjusted to reflect the change. Corporate expenses are comprised of selling, general and administrative expenses that management does not attribute to any of our operating segments and these expenses primarily relate to corporate administration, information resources, finance and human resources functional and organizational costs.
The Company considers its chief executive officer to be its chief operating decision maker. The Company’s chief operating decision maker manages business operations, evaluates performance and allocates resources based on the segments’ net revenues and operating income. The Company reports inventories by segment as that information is used by the chief operating decision maker in assessing segment performance. The Company does not report its other assets by segment as that information is not used by the chief operating decision maker in assessing segment performance.
Business segment information for the Company is as follows:
 Year Ended
 December 1,
2024		November 26,
2023		November 27,
2022
 (Dollars in millions)
Net revenues:
Americas$3,200.6 $3,086.9 $3,187.4 
Europe1,617.9 1,579.5 1,597.2 
Asia1,082.4 1,059.7 952.1 
Total segment net revenues5,900.9 5,726.1 5,736.7 
Other Brands:
Dockers®
323.3 336.9 334.4 
Beyond Yoga®
131.1 116.0 97.5 
Total Other Brands454.4 452.9 431.9 
Total net revenues$6,355.3 $6,179.0 $6,168.6 
Income before income taxes:
Americas$697.0 $535.3 $654.4 
Europe319.6 305.0 349.9 
Asia134.9 147.2 111.2 
Total segment operating income1,151.5 987.5 1,115.5 
Dockers® operating (loss) income
1.4 (1.1)17.5 
Beyond Yoga® operating (loss) income
(20.0)1.0 (0.4)
Restructuring charges, net(1)
(188.7)(20.3)(9.1)
Goodwill and other intangible asset impairment charges(2)
(116.9)(90.2)(11.6)
Corporate expenses(3)
(563.2)(523.6)(465.4)
Interest expense(41.8)(45.9)(25.7)
Other (expense) income, net(4)
(3.3)(42.2)28.8 
Income before income taxes
$219.0 $265.2 $649.6 
___________
(1)Restructuring charges, net for the year ended December 1, 2024 related to Project Fuel, consisting primarily of severance and other post-employment benefit charges.
(2)For the year ended December 1, 2024, goodwill and other intangible asset impairment charges includes $36.3 million related to Beyond Yoga reporting unit goodwill, $66.0 million related to the Beyond Yoga® trademark and $9.1 million related to the Beyond Yoga® customer relationship intangible assets. Additionally, the year ended December 1, 2024 includes a $5.5 million goodwill impairment charge related to the footwear business. For the year ended November 26, 2023, goodwill and other intangible asset impairment includes impairment charges of $75.4 million related to Beyond Yoga® reporting unit goodwill and $14.8 million related to the Beyond Yoga® trademark. For the year ended November 27, 2022, goodwill and other intangible asset impairment includes $11.6 million related to goodwill assigned to the Russia business.
(3)Corporate expenses for the year ended December 1, 2024 includes restructuring related expenses, mostly consulting fees of $54.3 million, in connection with Project Fuel and $11.1 million of impairments related to discontinued technology projects. Corporate expenses for the year ended November 27, 2022 includes $37.4 million in impairment charges related to certain store right-of-use assets and property, plant and equipment, net of a $15.8 million gain on the termination of store leases related to the Russia-Ukraine war which are considered part of the Company's Europe segment.
(4)For the year ended December 1, 2024, Other (expense) income, net includes an insurance recovery of $2.7 million and a government subsidy gain of $1.4 million. For the year ended November 26, 2023, Other (expense) income, net includes a noncash pension settlement charge recorded during the third quarter. For more information refer to Note 8.
Year Ended
December 1,
2024		November 26,
2023		November 27,
2022
(Dollars in millions)
Depreciation and amortization expense:
Americas$60.6 $51.4 $39.7 
Europe26.0 19.3 19.0 
Asia16.0 12.9 12.3 
Total segment depreciation and amortization expense102.6 83.6 71.0 
Other Brands and unallocated90.6 81.7 87.9 
Total depreciation and amortization expense$193.2 $165.3 $158.9 

December 1, 2024
AmericasEuropeAsiaSegment Total
Unallocated(1)
Consolidated Total
(Dollars in millions)
Assets:
Inventories$680.4 $144.5 $172.8 $997.7 $241.7 $1,239.4 
All other assets— — — — 5,136.1 5,136.1 
Total assets$6,375.5 
___________
(1)Unallocated inventories include $139.6 million of Other Brands inventory.
November 26, 2023
AmericasEuropeAsiaSegment Total
Unallocated(1)
Consolidated Total
(Dollars in millions)
Assets:
Inventories$673.1 $160.1 $181.0 $1,014.2 $275.9 $1,290.1 
All other assets— — — — 4,763.5 4,763.5 
Total assets$6,053.6 
___________
(1)Unallocated inventories include $195.1 million of Other Brands inventory.

Geographic information for the Company was as follows:
Year Ended
December 1,
2024		November 26,
2023		November 27,
2022
(Dollars in millions)
Net revenues:
United States$2,759.1 $2,691.9 $2,883.5 
Foreign countries3,596.2 3,487.1 3,285.1 
Total net revenues$6,355.3 $6,179.0 $6,168.6 
Net deferred tax assets:
United States$482.1 $463.8 $379.0 
Foreign countries316.4 265.7 246.0 
Total net deferred tax assets$798.5 $729.5 $625.0 
Long-lived assets:
United States$442.0 $461.8 $454.2 
Foreign countries290.1 249.8 196.9 
Total long-lived assets$732.1 $711.6 $651.1