Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Nov. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying amount of goodwill

The changes in the carrying amount of goodwill by business segment for the years ended November 30, 2025 and December 1, 2024, were as follows:

	Americas		Europe		Asia		Beyond Yoga®		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(1)	—		(5.5)		—		(36.3)		(41.8)
Goodwill acquired during the year(2)	15.9		5.0		—		—		20.9
Foreign currency fluctuation	(4.9)		(0.4)		0.1		—		(5.2)
Balance, December 1, 2024
Goodwill	242.7		37.2		2.9		123.6		406.4
Accumulated impairment losses	—		(17.1)		—		(111.7)		(128.8)
	242.7		20.1		2.9		11.9		277.6
Impairment losses	(2.5)		—		—		—		(2.5)
Foreign currency fluctuation	3.6		1.8		0.1		—		5.5
Balance, November 30, 2025
Goodwill	246.3		39.0		3.0		123.6		411.9
Accumulated impairment losses	(2.5)		(17.1)		—		(111.7)		(131.3)
Balance, November 30, 2025	$	243.8	$	21.9	$	3.0	$	11.9	$	280.6

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(1)For the year ended December 1, 2024 the Company recorded a $5.5 million goodwill noncash impairment charge related to our footwear business as a result of the decision to discontinue the category and a Beyond Yoga® goodwill noncash impairment charge of $36.3 million.

(2)For the year ended December 1, 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.

Finite-lived intangible assets

Other intangible assets, net, were as follows:

	November 30, 2025						December 1, 2024
	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	$	177.9	$	—	$	177.9
Amortized intangible assets:
Customer relationships and other(2)	39.7		(23.2)		16.5		37.6		(18.9)		18.7
Total	$	217.6	$	(23.2)	$	194.4	$	215.5	$	(18.9)	$	196.6

_____________

(1)For the year ended December 1, 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.

(2)For the year ended December 1, 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:

	November 30, 2025						December 1, 2024
	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	$	177.9	$	—	$	177.9
Amortized intangible assets:
Customer relationships and other(2)	39.7		(23.2)		16.5		37.6		(18.9)		18.7
Total	$	217.6	$	(23.2)	$	194.4	$	215.5	$	(18.9)	$	196.6

_____________

(1)For the year ended December 1, 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.

(2)For the year ended December 1, 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.