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Debt (Tables) | 3 Months Ended
--- | ---
Feb. 29, 2024
Debt Disclosure [Abstract] |
Schedule of Debt |
|  |  | February 29, |  | November 30,
(in millions) | Maturity |  | Rate (a) (b) |  | 2024 |  | 2023
Secured Subsidiary Guaranteed |  |  |  |  |  |  |
Notes |  |  |  |  |  |  |
Notes | Jun 2027 |  | 7.9% |  | $ | 192 |  |  | $ | 192 |
Notes (c) | Aug 2027 |  | 9.9% |  | — |  |  | 623 |
Notes | Aug 2028 |  | 4.0% |  | 2,406 |  |  | 2,406 |
Notes | Aug 2029 |  | 7.0% |  | 500 |  |  | 500 |
Loans |  |  |  |  |  |  |
EUR floating rate (d) | Jun 2025 |  | EURIBOR + 3.8% |  | 837 |  |  | 851 |
Floating rate | Aug 2027 - Oct 2028 |  | SOFR + 3.0 - 3.4% (e) |  | 3,558 |  |  | 3,567 |
Total Secured Subsidiary Guaranteed |  |  |  | 7,493 |  |  | 8,138 |
Senior Priority Subsidiary Guaranteed |  |  |  |  |  |  |
Notes | May 2028 |  | 10.4% |  | 2,030 |  |  | 2,030 |
Unsecured Subsidiary Guaranteed |  |  |  |  |  |  |
Notes |  |  |  |  |  |  |
Convertible Notes | Oct 2024 |  | 5.8% |  | 426 |  |  | 426 |
Notes | Mar 2026 |  | 7.6% |  | 1,351 |  |  | 1,351 |
EUR Notes | Mar 2026 |  | 7.6% |  | 542 |  |  | 550 |
Notes (c) | Mar 2027 |  | 5.8% |  | 2,725 |  |  | 3,100 |
Convertible Notes | Dec 2027 |  | 5.8% |  | 1,131 |  |  | 1,131 |
Notes | May 2029 |  | 6.0% |  | 2,000 |  |  | 2,000 |
Notes | Jun 2030 |  | 10.5% |  | 1,000 |  |  | 1,000 |
Loans |  |  |  |  |  |  |
EUR floating rate | Apr 2024 - Mar 2026 |  | EURIBOR + 2.4 - 4.0% |  | 624 |  |  | 678 |
Export Credit Facilities |  |  |  |  |  |  |
Floating rate | Dec 2031 |  | SOFR + 1.2% (e) |  | 549 |  |  | 583 |
Fixed rate | Aug 2027 - Dec 2032 |  | 2.4 - 3.4% |  | 2,677 |  |  | 2,756 |
EUR floating rate | May 2024 - Nov 2034 |  | EURIBOR + 0.2 - 0.8% |  | 2,957 |  |  | 3,086 |
EUR fixed rate | Feb 2031 - Jul 2037 |  | 1.1 - 4.0% |  | 5,197 |  |  | 3,652 |
Total Unsecured Subsidiary Guaranteed |  |  |  | 21,179 |  |  | 20,312 |
Unsecured Notes (No Subsidiary Guarantee) |  |  |  |  |  |
Notes | Jan 2028 |  | 6.7% |  | 200 |  |  | 200 |
EUR Notes | Oct 2029 |  | 1.0% |  | 651 |  |  | 659 |
Total Unsecured Notes (No Subsidiary Guarantee) |  |  |  | 851 |  |  | 859 |
Total Debt |  |  |  |  | 31,552 |  |  | 31,339 |
Less: unamortized debt issuance costs and discounts |  |  |  |  | (813) |  |  | (768) |
Total Debt, net of unamortized debt issuance costs and discounts |  |  |  |  | 30,739 |  |  | 30,572 |
Less: current portion of long-term debt |  |  |  |  | (2,195) |  |  | (2,089) |
Long-Term Debt |  |  |  |  | $ | 28,544 |  |  | $ | 28,483 |
(a)The reference rates, together with any applicable credit adjustment spread, for substantially all of our variable debt have 0.0% to 0.75% floors. (b)The above debt table excludes the impact of any outstanding derivative contracts. (c)See “Extinguishments” below. (d)Subsequent to February 29, 2024, we prepaid $837 million of principal payments for our Euro floating rate loan originally scheduled to mature in 2025. (e)Includes applicable credit adjustment spread.
Schedule of Annual Maturities of Debt | As of February 29, 2024, the scheduled maturities of our debt are as follows:
(in millions) |  |
Year |  | Principal Payments
Remainder of 2024 |  | $ | 1,719 |
2025 (a) |  | 2,350 |
2026 |  | 3,323 |
2027 |  | 5,457 |
2028 |  | 9,115 |
Thereafter |  | 9,588 |
Total |  | $ | 31,552 |
(a)Subsequent to February 29, 2024, we prepaid $837 million of our euro floating rate loan originally scheduled to mature in 2025.

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