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Financial Instruments (Tables) | 12 Months Ended
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Nov. 30, 2021
Derivative Instrument Detail [Abstract] |
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, 2021: |  |  |  |  |  |
(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 |  | $ | 23.1 |  | Other accrued liabilities | $ | — |  | $ | — |
Foreign exchange contracts | Other current assets | 380.8 |  | 8.3 |  | Other accrued liabilities | 202.8 |  | 2.8 |
Cross currency contracts | Other current assets/Other long-term assets | 251.0 |  | 4.4 |  | Other long-term liabilities | 257.5 |  | 8.0 |
Total |  |  | $ | 35.8 |  |  |  | $ | 10.8 |
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 |
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, 2021, 2020 and 2019:
Fair value hedges (millions)
| Income statement location | Income (expense)
Derivative | 2021 | 2020 | 2019
Interest rate contracts | Interest expense | $ | 8.2 |  | $ | 5.2 |  | $ | — |
| Income statement location | Gain (loss) recognized in income |  | Income statement location | Gain (loss) recognized in income
Derivative | 2021 | 2020 | 2019 | Hedged Item | 2021 | 2020 | 2019
Foreign exchange contracts | Other income, net | $ | (1.9) |  | $ | (4.0) |  | $ | 0.2 |  | Intercompany loans | Other income, net | $ | 2.9 |  | $ | 3.0 |  | $ | (0.9) |
Cash flow hedges (millions)
| Gain (loss) recognized in OCI | Income statement location | Gain (loss) reclassified from AOCI
Derivative | 2021 | 2020 | 2019 | 2021 | 2020 | 2019
Interest rate contracts | $ | 0.3 |  | $ | — |  | $ | — |  | Interest expense | $ | 0.5 |  | $ | 0.5 |  | $ | 0.5 |
Foreign exchange contracts | (2.0) |  | 1.9 |  | (0.2) |  | Cost of goods sold | (0.7) |  | 1.6 |  | 1.6 |
Total | $ | (1.7) |  | $ | 1.9 |  | $ | (0.2) |  |  | $ | (0.2) |  | $ | 2.1 |  | $ | 2.1 |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) |
Net investment hedges (millions) |  |
| Gain (loss) recognized in OCI | Income statement location | Gain (loss) excluded from the assessment of hedge effectiveness
Derivative | 2021 | 2020 | 2019 |  | 2021 | 2020 | 2019
Cross currency contracts | $ | 15.5 |  | $ | (20.8) |  | $ | 1.1 |  | Interest expense | $ | 1.5 |  | $ | 3.1 |  | $ | 5.4 |

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- Definition Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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