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Fair Value Measurements (Tables)

6 Months Ended

May 31, 2021

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on recurring basis

Our population of financial assets and liabilities subject to fair value measurements on a recurring basis are as follows (in millions):

												May 31, 2021
						Fair Value						Level 1						Level 2
Assets
Cash and cash equivalents						$	291.8					$	291.8					$	—
Insurance contracts						130.7						—						130.7
Bonds and other long-term investments						4.3						4.3						—
Interest rate derivatives						30.8						—						30.8
Foreign currency derivatives						2.9						—						2.9
Cross currency contracts						2.8						—						2.8
Total						$	463.3					$	296.1					$	167.2
Liabilities
Foreign currency derivatives						$	9.0					$	—					$	9.0
Cross currency contracts						25.1						—						25.1
Total						$	34.1					$	—					$	34.1

 

												November 30, 2020
						Fair Value						Level 1						Level 2
Assets
Cash and cash equivalents						$	423.6					$	423.6					$	—
Insurance contracts						126.0						—						126.0
Bonds and other long-term investments						3.9						3.9						—
Interest rate derivatives						43.1						—						43.1
Foreign currency derivatives						1.4						—						1.4
Total						$	598.0					$	427.5					$	170.5
Liabilities
Foreign currency derivatives						$	8.2					$	—					$	8.2
Cross currency contracts						18.8						—						18.8
Total						$	27.0					$	—					$	27.0

Fair Value, by Balance Sheet Grouping

The following table sets forth the carrying amounts and fair values of our long-term debt including the current portion thereof (in millions):

			May 31, 2021						November 30, 2020
Carrying amount			$	5,003.7					$	4,017.7
Fair value			5,224.8						4,357.1
Level 1 valuation techniques			$	5,020.1					$	4,161.3
Level 2 valuation techniques			204.7						195.8
Total fair value			$	5,224.8					$	4,357.1

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- References

No definition available.

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X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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