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Fair Value Measurements, Derivative Instruments and Hedging Activities and Financial Risks (Tables) | 3 Months Ended
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Feb. 28, 2025
Fair Value Disclosures [Abstract] |
Schedule of Estimated Carrying and Fair Values of Financial Instrument Assets and Liabilities Not Measured at Fair Value on a Recurring Basis | Financial Instruments that are not Measured at Fair Value on a Recurring Basis
| February 28, 2025 |  | November 30, 2024
| Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
(in millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Level 1 |  | Level 2 |  | Level 3
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed rate debt (a) | $ | 22,084 |  |  | $ | — |  |  | $ | 22,610 |  |  | $ | — |  |  | $ | 22,449 |  |  | $ | — |  |  | $ | 23,241 |  |  | $ | — |
Floating rate debt (a) | 5,627 |  |  | — |  |  | 5,550 |  |  | — |  |  | 5,764 |  |  | — |  |  | 5,685 |  |  | — |
Total | $ | 27,711 |  |  | $ | — |  |  | $ | 28,159 |  |  | $ | — |  |  | $ | 28,213 |  |  | $ | — |  |  | $ | 28,927 |  |  | $ | — |
(a)The debt amounts above do not include the impact of interest rate swaps or debt issuance costs and discounts. The fair values of our publicly-traded notes were based on their unadjusted quoted market prices in markets that are not sufficiently active to be Level 1 and, accordingly, are considered Level 2. The fair values of our other debt were estimated based on current market interest rates being applied to this debt.
Schedule of Estimated Fair Value and Basis of Valuation of Financial Instrument Assets and Liabilities Measured at Fair Value on Recurring Basis | Financial Instruments that are Measured at Fair Value on a Recurring Basis
| February 28, 2025 |  | November 30, 2024
(in millions) | Level 1 |  | Level 2 |  | Level 3 |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |  |  |  |
Cash equivalents (a) | $ | 375 |  |  | $ | — |  |  | $ | — |  |  | $ | 404 |  |  | $ | — |  |  | $ | — |
Derivative financial instruments | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |
Total | $ | 375 |  |  | $ | — |  |  | $ | — |  |  | $ | 404 |  |  | $ | 2 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |
Total | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |
(a)Consists of money market funds and cash investments with original maturities of less than 90 days.
Schedule of Reconciliation of Changes in Carrying Amounts of Trademarks |
| Trademarks
(in millions) | North America Segment |  | Europe Segment |  | Total
November 30, 2024 | $ | 927 |  |  | $ | 234 |  |  | $ | 1,161 |
Exchange movements | — |  |  | (1) |  |  | (1) |
February 28, 2025 | $ | 927 |  |  | $ | 233 |  |  | $ | 1,160 |
Schedule of Estimated Fair Values of Derivative Financial Instruments and Location in the Consolidated Balance Sheets | Derivative Instruments and Hedging Activities
(in millions) | Balance Sheet Location |  | February 28, 2025 |  | November 30, 2024
Derivative assets |  |  |  |  |
Derivatives designated as hedging instruments |  |  |  |  |
Interest rate swaps (a) | Prepaid expenses and other |  | $ | — |  |  | $ | 2 |
Total derivative assets |  |  | $ | — |  |  | $ | 2 |
Derivative liabilities |  |  |  |  |
Derivatives designated as hedging instruments |  |  |  |  |
Interest rate swaps (a) | Other long-term liabilities |  | $ | 4 |  |  | $ | 4 |
Total derivative liabilities |  |  | $ | 4 |  |  | $ | 4 |
(a)We have interest rate swaps whereby we receive floating interest rate payments in exchange for making fixed interest rate payments. These interest rate swap agreements effectively changed $10 million at February 28, 2025 and $11 million at November 30, 2024 of EURIBOR-based floating rate euro debt to fixed rate euro debt, and $1.0 billion at February 28, 2025 and November 30, 2024 of SOFR-based variable rate debt to fixed rate debt. As of February 28, 2025 and November 30, 2024, the EURIBOR-based interest rate swaps settle through March 2025 and were not designated as cash flow hedges; the SOFR-based interest rate swaps settle through 2027 and were designated as cash flow hedges.
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | The effect of our derivatives qualifying and designated as hedging instruments recognized in other comprehensive income (loss) and in net income (loss) was as follows:
| Three Months Ended February 28/29, |  |
(in millions) | 2025 |  | 2024 |  |  |  |
Gains (losses) recognized in AOCI: |  |  |  |  |  |  |
Interest rate swaps – cash flow hedges | $ | — |  |  | $ | 13 |  |  |  |  |
(Gains) losses reclassified from AOCI – cash flow hedges: |  |  |  |  |  |  |
Interest rate swaps – Interest expense, net of capitalized interest | $ | 2 |  |  | $ | (11) |  |  |  |  |
Gains (losses) recognized on derivative instruments (amount excluded from effectiveness testing – net investment hedges) |  |  |  |  |  |  |
Cross currency swaps – Interest expense, net of capitalized interest | $ | — |  |  | $ | 2 |  |  |  |  |

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