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Other Income, Net | 9 Months Ended
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Aug. 31, 2023
Other Income and Expenses [Abstract] |
Other Income, Net | OTHER INCOME, NET The following is a summary of other income, net recognized in the three and nine months ended August 31, 2023 and 2022 (in millions):
| Three months ended August 31, |  | Nine months ended August 31,
| 2023 |  | 2022 |  | 2023 |  | 2022
Gain on sale of business | $ | — |  |  | $ | 49.6 |  |  | $ | — |  |  | $ | 49.6 |
Gain on settlement of treasury lock | — |  |  | 18.7 |  | — |  |  | 18.7
Pension and other postretirement benefit income | 2.7 |  | 2.4 |  |  | 8.0 |  | 7.5
Interest income | 9.4 |  | 4.8 |  |  | 26.4 |  | 11.7
Other | (5.0) |  |  | 1.9 |  |  | (3.7) |  |  | 2.4 |
Total other income, net | $ | 7.1 |  |  | $ | 77.4 |  |  | $ | 30.7 |  |  | $ | 89.9 |
During the three months ended May 31, 2022, we entered into treasury lock arrangements with a notional amount totaling $200 million in order to manage our interest rate risk associated with the anticipated issuance of at least $200 million of fixed rate debt by August 2022. We designated these treasury lock arrangements as cash flow hedges with any unrealized gain, prior to settlement, recognized in accumulated other comprehensive income. During the three months ended August 31, 2022, we settled $200 million notional treasury locks upon determining we would not issue fixed rate debt but rather enter into a $500 million 364-day revolving credit facility. The proceeds received upon settlement of these treasury lock arrangements were $18.7 million.On August 3, 2022, we sold the Kitchen Basics business for $95.2 million in cash, net of transaction expenses of $3.8 million. Assets disposed of principally included inventory, intangible assets ($6.3 million) and goodwill ($21.5 million). The sale of Kitchen Basics resulted in a pre-tax gain of $49.6 million.

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