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Financing Arrangements (Tables) | 12 Months Ended
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Nov. 30, 2019
Financing Arrangements [Abstract] |
Components Of Outstanding Debt | Our outstanding debt, including capital leases, was as follows at November 30:
(millions) | 2019 | 2018
Short-term borrowings |  |
Commercial paper | $ | 575.3 |  | $ | 509.9 |
Other | 25.4 |  | 50.1 |
| $ | 600.7 |  | $ | 560.0 |
Weighted-average interest rate of short-term borrowings at year-end | 2.5 | % | 2.9 | %
Long-term debt |  |
Term loan due 8/17/2020(1) | $ | — |  | $ | 130.0 |
3.90% notes due 7/8/2021(2) | 250.0 |  | 250.0 |
2.70% notes due 8/15/2022 | 750.0 |  | 750.0 |
Term loan due 8/17/2022(1) | 250.0 |  | 556.3 |
3.50% notes due 8/19/2023(3) | 250.0 |  | 250.0 |
3.15% notes due 8/15/2024 | 700.0 |  | 700.0 |
3.25% notes due 11/15/2025(4) | 250.0 |  | 250.0 |
3.40% notes due 8/15/2027(5) | 750.0 |  | 750.0 |
4.20% notes due 8/15/2047 | 300.0 |  | 300.0 |
7.63%–8.12% notes due 2024 | 55.0 |  | 55.0 |
Other, including capital leases | 171.6 |  | 180.5 |
Unamortized discounts, premiums, debt issuance costs and fair value adjustments(6) | (3.1 | ) | (35.4 | )
| 3,723.5 |  | 4,136.4 |
Less current portion | 97.7 |  | 83.5 |
| $ | 3,625.8 |  | $ | 4,052.9 |
(1) | The term loans are prepayable in whole or in part. Also, the term loan due in 2022 requires quarterly principal payments of 2.5% of the initial principal amount.
(2) | Interest rate swaps, settled upon the issuance of these notes in 2011, effectively set the interest rate on the $250 million notes at a weighted-average fixed rate of 4.01%.
(3) | Interest rate swaps, settled upon the issuance of these notes in 2013, effectively set the interest rate on the $250 million notes at a weighted-average fixed rate of 3.30%.
(4) | Interest rate swaps, settled upon the issuance of these notes in 2015, effectively set the interest rate on the $250 million notes at a weighted-average fixed rate of 3.45%. The fixed interest rate on $100 million of the 3.25% notes due in 2025 is effectively converted to a
variable rate by interest rate swaps through 2025. Net interest payments are based on 3-month LIBOR plus 1.22% during this period (our effective rate as of November 30, 2019 was 3.13%). (5) Interest rate swaps, settled upon the issuance of these notes in 2017, effectively set the interest rate on the $750 million notes at a weighted-average fixed rate of 3.44%. The fixed interest rate on $250 million of the 3.40% notes due in 2027 is effectively converted to a variable rate by interest rate swaps through 2027. Net interest payments are based on 3-month LIBOR plus 0.685% during this period (our effective rate as of November 30, 2019 was
Maturities Of Long-Term Debt | Maturities of long-term debt, including capital leases, during the fiscal years subsequent to November 30, 2019 are as follows (in millions):
2020 | $ | 97.7 |
2021 | 341.1 |
2022 | 864.2 |
2023 | 257.8 |
2024 | 763.1 |
Thereafter | 1,402.7 |
Rental Expense Under Operating Leases | Future annual fixed rental payments under operating leases for the years ended November 30 are as follows (in millions):
2020 | $ | 41.8 |
2021 | 35.7 |
2022 | 25.8 |
2023 | 16.0 |
2024 | 10.6 |
Thereafter | 32.3 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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