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Benefit Plans (Tables)
12 Months Ended
Nov. 30, 2024
Retirement Benefits [Abstract]  
Schedule of Changes in Projected Benefit Obligation Activity with respect to both plans:
Year Ended November 30,
$ in thousands
2024
2023
Change in projected benefit obligation:
Projected benefit obligation, beginning of year .......
$163,870
$172,066
Interest cost ..................................................................
7,986
7,981
Actuarial (gains) losses ..............................................
3,455
(5,289)
Settlements ...................................................................
Benefits paid .................................................................
(12,238)
(10,888)
Projected benefit obligation, end of year ................
$163,073
$163,870
Change in plan assets:
 
 
Fair value of plan assets, beginning of year .............
$141,177
$147,272
Actual return on plan assets .......................................
18,980
6,094
Employer contributions ...............................................
3,530
1,000
Benefits paid .................................................................
(12,238)
(10,888)
Settlements ...................................................................
Administrative expenses paid ....................................
(1,778)
(2,301)
Fair value of plan assets, end of year .......................
$149,671
$141,177
Funded status at end of year .....................................
$(13,402)
$(22,693)
Schedule of Components of Net Periodic Pension (Benefit) Cost Components of net periodic pension cost and other amounts
recognized in other comprehensive income (loss) excluding
taxes:
Year Ended November 30,
$ in thousands
2024
2023
2022
Interest cost .....................................
$7,986
$7,981
$5,805
Expected return on plan assets .....
(5,796)
(6,411)
(7,311)
Amortization of net losses .............
291
Settlement losses ............................
370
833
Actuarial losses ...............................
193
413
3,348
Net periodic pension cost ..............
$2,674
$2,353
$2,675
Amounts recognized in other
comprehensive income (loss):
Net (gains) losses arising during
the period ..........................................
$(7,951)
$(2,670)
$(211)
Settlement losses ............................
(833)
Amortization of net losses .............
(485)
782
(3,348)
Total recognized in other
comprehensive income (loss) ......
$(8,436)
$(1,888)
$(4,392)
 
 
 
Net amount recognized in net
periodic benefit cost and other
  comprehensive income (loss) ....
$(5,762)
$465
$(1,717)
Schedule of Assumptions used to Determine the Present Value of the Projected Benefit Obligations and Net Periodic Pension Costs Assumptions:
November 30,
 
2024
2023
WilTel Plan
Discount rate used to determine benefit obligation
5.10%
5.30%
Weighted-average assumptions used to
determine net pension cost:
Discount rate .........................................................
5.30%
4.90%
Expected long-term return on plan assets ........
6.00%
6.00%
U.S. Pension Plan
Discount rate used to determine benefit obligation
4.90%
5.20%
Weighted-average assumptions used to
determine net pension cost:
Discount rate .........................................................
5.20%
4.80%
Expected long-term return on plan assets ........
5.00%
5.00%
Schedule of Expected Benefit Payments Pension benefit payments expected to be paid (in thousands):
Fiscal Year:
2025 ............................................................................................................
$25,185
2026 ............................................................................................................
13,357
2027 ............................................................................................................
13,563
2028 ............................................................................................................
13,100
2029 ............................................................................................................
13,339
Years 2030 - 2034 .....................................................................................
60,892