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Accumulated Other Comprehensive Loss (Tables) | 9 Months Ended
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Aug. 31, 2024
Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Schedule of accumulated other comprehensive income (loss) | The following table sets forth the components of accumulated other comprehensive loss, net of tax, where applicable (in millions):
| August 31, 2024 |  |  |  | November 30, 2023
Foreign currency translation adjustment (1) | $ | (302.6) |  |  |  |  | $ | (305.7) |
Unrealized gain (loss) on foreign currency exchange contracts | (1.9) |  |  |  |  | 0.8 |
Unamortized value of settled interest rate swaps | (2.3) |  |  |  |  | (2.7) |
Pension and other postretirement costs | (83.6) |  |  |  |  | (81.0) |
Accumulated other comprehensive loss | $ | (390.4) |  |  |  |  | $ | (388.6) |
(1)During the nine months ended August 31, 2024, the foreign currency translation adjustment of accumulated other comprehensive loss decreased on a net basis by $3.1 million, inclusive of $4.4 million of unrealized losses associated with net investment hedges. These net investment hedges are more fully described in note 3.
Reclassification out of Accumulated Other Comprehensive Income | The following table sets forth the amounts reclassified from accumulated other comprehensive income (loss) and into consolidated net income (in millions):
|  | Three months ended |  | Nine months ended |  | Affected Line Items in the Condensed Consolidated Income Statement
|  | August 31, 2024 |  | August 31, 2023 |  | August 31, 2024 |  | August 31, 2023 |
(Gains)/losses on cash flow hedges: |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives |  | $ | 0.2 |  |  | $ | — |  |  | $ | 0.5 |  |  | $ | (0.2) |  |  | Interest expense
Foreign exchange contracts |  | (0.4) |  |  | 0.4 |  |  | (1.9) |  |  | (0.9) |  |  | Cost of goods sold
Total before tax |  | (0.2) |  |  | 0.4 |  |  | (1.4) |  |  | (1.1) |  |  |  |
Tax effect |  | — |  |  | (0.1) |  |  | 0.3 |  |  | 0.3 |  |  | Income tax expense
Net, after tax |  | $ | (0.2) |  |  | $ | 0.3 |  |  | $ | (1.1) |  |  | $ | (0.8) |  |  |  |
Amortization of pension and postretirement benefit adjustments: |  |  |  |  |  |  |  |  |  |  |
Amortization of prior service costs (1) |  | $ | 0.3 |  |  | $ | 0.1 |  |  | $ | 0.3 |  |  | $ | 0.2 |  |  | Other income, net
Amortization of net actuarial (gains)(1) |  | $ | (0.9) |  |  | $ | (0.5) |  |  | (2.5) |  |  | (1.5) |  |  | Other income, net
Total before tax |  | (0.6) |  |  | (0.4) |  |  | (2.2) |  |  | (1.3) |  |  |  |
Tax effect |  | 0.1 |  |  | 0.1 |  |  | 0.5 |  |  | 0.3 |  |  | Income tax expense
Net, after tax |  | $ | (0.5) |  |  | $ | (0.3) |  |  | $ | (1.7) |  |  | $ | (1.0) |  |  |  |
(1)This accumulated other comprehensive income (loss) component is included in the computation of total pension (income) and other postretirement benefits expense (refer to note 5 for additional details).

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