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Financial Instruments (Tables)

12 Months Ended

Nov. 30, 2020

Derivative [Line Items]

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]

Net investment hedges (millions)
			Gain (loss) recognized in OCI						Income statement location			Gain (loss) excluded from the assessment of hedge effectiveness
Derivative			2020			2019						2020			2019
Cross currency contracts			$	(20.8)		$	1.1		Interest expense			$	3.1		$	5.4

Fair Values Of Derivative Instruments

The following tables disclose the notional amount and fair values of derivative instruments on our consolidated balance sheet:

As of November 30, 2020:
(millions)			Asset Derivatives									Liability Derivatives
Derivatives			Balance sheet location			Notional amount			Fair value			Balance sheet location			Notional amount			Fair value
Interest rate contracts			Other current  assets/Other long-term assets			$	350.0		$	43.1		Other accrued liabilities			$	—		$	—
Foreign exchange contracts			Other current assets			27.5			1.4			Other accrued liabilities			356.3			8.2
Cross currency contracts			Other current assets/Other long-term assets			—			—			Other long-term liabilities			524.4			18.8
Total									$	44.5								$	27.0
As of November 30, 2019:
(millions)			Asset Derivatives									Liability Derivatives
Derivatives			Balance sheet location			Notional amount			Fair value			Balance sheet location			Notional amount			Fair value
Interest rate contracts			Other current  assets/Other long-term assets			$	350.0		$	20.9		Other accrued liabilities			$	—		$	—
Foreign exchange contracts			Other current assets			293.1			3.3			Other accrued liabilities			196.1			3.6
Cross currency contracts			Other current assets/Other long-term assets			495.5			3.2			Other accrued liabilities			—			—
Total									$	27.4								$	3.6

Impact Of Derivative Instruments

The following tables disclose the impact of derivative instruments on other comprehensive income (OCI), accumulated other comprehensive income (AOCI) and our consolidated income statement for the years ended November 30, 2020, 2019 and 2018:

Fair value hedges (millions)
			Income statement location			Income (expense)
Derivative						2020			2019			2018
Interest rate contracts			Interest expense			$	5.2		$	—		$	(0.1)

			Income statement location			Gain (loss) recognized in income												Income statement location			Gain (loss) recognized in income
Derivative						2020			2019			2018			Hedged Item						2020			2019			2018
Foreign exchange contracts			Other income, net			$	(4.0)		$	0.2		$	(2.9)		Intercompany loans			Other income, net			$	3.0		$	(0.9)		$	2.7

Cash flow hedges (millions)
			Gain (loss) recognized in OCI									Income statement location			Gain (loss)   reclassified from AOCI
Derivative			2020			2019			2018						2020			2019			2018
Interest rate contracts			$	—		$	—		$	—		Interest expense			$	0.5		$	0.5		$	0.5
Foreign exchange contracts			1.9			(0.2)			2.6			Cost of goods sold			1.6			1.6			(3.3)
Total			$	1.9		$	(0.2)		$	2.6					$	2.1		$	2.1		$	(2.8)

Carrying Amount And Fair Value Of Financial Instruments

The carrying amount and fair value of financial instruments as of November 30 were as follows:

			2020						2019
(millions)			Carrying amount			Fair value			Carrying amount			Fair value
Long-term investments			$	129.9		$	129.9		$	124.4		$	124.4
Long-term debt (including current portion)			4,017.7			4,357.1			3,723.5			3,859.0
Level 1 valuation techniques						4,161.3						3,437.5
Level 2 valuation techniques						195.8						421.5
Derivatives related to:
Interest rates (assets)			43.1			43.1			20.9			20.9
Foreign currency (assets)			1.4			1.4			3.3			3.3
Foreign currency (liabilities)			8.2			8.2			3.6			3.6
Cross currency (assets)			—			—			3.2			3.2
Cross currency (liabilities)			18.8			18.8			—			—

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