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Fair Value Measurements (Tables) | 6 Months Ended
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May 31, 2024
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, 2024
|  | Fair Value |  | Level 1 |  | Level 2 |  |
Assets |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 166.3 |  |  | $ | 166.3 |  |  | $ | — |  |  |
Insurance contracts |  | 118.9 |  |  | — |  |  | 118.9 |  |  |
Bonds and other long-term investments |  | 0.3 |  |  | 0.3 |  |  | — |  |  |
Foreign currency derivatives |  | 2.4 |  |  | — |  |  | 2.4 |  |  |
Cross currency contracts |  | 27.1 |  |  | — |  |  | 27.1 |  |  |
Total |  | $ | 315.0 |  |  | $ | 166.6 |  |  | $ | 148.4 |  |  |
Liabilities |  |  |  |  |  |  |  |
Foreign currency derivatives |  | $ | 9.0 |  |  | $ | — |  |  | $ | 9.0 |  |  |
Interest rate derivatives |  | 53.8 |  |  | — |  |  | 53.8 |  |  |
Cross currency contracts |  | 5.0 |  |  | — |  |  | 5.0 |  |  |
Total |  | $ | 67.8 |  |  | $ | — |  |  | $ | 67.8 |  |  |
|  |  |  | November 30, 2023
|  | Fair Value |  | Level 1 |  | Level 2 |  |
Assets |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 166.6 |  |  | $ | 166.6 |  |  | $ | — |  |  |
Insurance contracts |  | 114.7 |  |  | — |  |  | 114.7 |  |  |
Bonds and other long-term investments |  | 0.3 |  |  | 0.3 |  |  | — |  |  |
Foreign currency derivatives |  | 2.5 |  |  | — |  |  | 2.5 |  |  |
Cross currency contracts |  | 24.6 |  |  | — |  |  | 24.6 |  |  |
Total |  | $ | 308.7 |  |  | $ | 166.9 |  |  | $ | 141.8 |  |  |
Liabilities |  |  |  |  |  |  |  |
Foreign currency derivatives |  | $ | 16.0 |  |  | $ | — |  |  | $ | 16.0 |  |  |
Interest rate derivatives |  | 52.8 |  |  | — |  |  | 52.8 |  |  |
Cross currency contracts |  | 7.5 |  |  | — |  |  | 7.5 |  |  |
Total |  | $ | 76.3 |  |  | $ | — |  |  | $ | 76.3 |  |  |
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, 2024 |  | November 30, 2023
Carrying amount | $ | 4,112.4 |  |  | $ | 4,139.2 |
Level 1 valuation techniques | $ | 3,727.6 |  |  | $ | 3,682.0 |
Level 2 valuation techniques | 130.6 |  |  | 159.0 |
Total fair value | $ | 3,858.2 |  |  | $ | 3,841.0 |

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- 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 -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
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- 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 -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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