Other (Expense) Income, Net

9 Months Ended

Aug. 31, 2025

Other Income and Expenses [Abstract]

OTHER (EXPENSE) INCOME, NET

OTHER INCOME (EXPENSE), NET

The following table summarizes significant components of “Other income (expense), net”: 

	Three Months Ended				Nine Months Ended
	August 31, 2025		August 25, 2024		August 31, 2025		August 25, 2024
	(Dollars in millions)
Foreign exchange management gains (losses)(1)	$	11.0	$	(1.1)	$	41.0	$	1.8
Foreign currency transaction losses(2)	(11.1)		(5.8)		(48.6)		(11.2)
Other, net	1.4		6.5		11.1		7.1
Total other income (expense), net	$	1.3	$	(0.4)	$	3.5	$	(2.3)

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(1)Gains on forward foreign exchange contracts primarily result from currency fluctuations relative to negotiated contract rates. For the three and nine months ended August 31, 2025, gains were primarily due to currency fluctuations relative to negotiated contract rates on positions to buy the Euro.

(2)Foreign currency transaction gains and losses reflect the impact of currency fluctuations on the Company's foreign currency denominated balances. For the three and nine months ended August 31, 2025, losses were primarily due to the impact of U.S. dollar weakening against the Euro.