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Financing Arrangements (Tables) | 12 Months Ended
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Nov. 30, 2024
Financing Arrangements [Abstract] |
Components Of Outstanding Debt | Our outstanding debt, including finance leases, was as follows at November 30:
(millions) | 2024 | 2023
Short-term borrowings |  |
Commercial paper | $ | 431.3 |  | $ | 269.4 |
Other | 51.8 |  | 2.8 |
| $ | 483.1 |  | $ | 272.2 |
Weighted-average interest rate of short-term borrowings at year-end | 4.7 | % | 5.5 | %
Long-term debt |  |
3.15% notes due 8/15/2024 | $ | — |  | $ | 700.0 |
3.25%notes due 11/15/2025(1) | 250.0 |  | 250.0 |
0.90% notes due 2/15/2026 | 500.0 |  | 500.0 |
3.40% notes due 8/15/2027(2) | 750.0 |  | 750.0 |
2.50% notes due 4/15/2030(3) | 500.0 |  | 500.0 |
1.85% notes due 2/15/2031 | 500.0 |  | 500.0 |
4.95% notes due 4/15/2033(4) | 500.0 |  | 500.0 |
4.70% notes due 10/15/2034(5) | 500.0 |  | — |
4.20% notes due 8/15/2047 | 300.0 |  | 300.0 |
7.63%–8.12% notes due 2024 | — |  | 55.0 |
Other, including finance leases | 119.8 |  | 159.1 |
Unamortized discounts, premiums, debt issuance costs and fair value adjustments(6) | (61.0) |  | (74.9) |
| 3,858.8 |  | 4,139.2 |
Less current portion | 265.2 |  | 799.3 |
| $ | 3,593.6 |  | $ | 3,339.9 |
(1)Interest rate swaps, settled upon the issuance of these notes, effectively set the interest rate on the $250 million notes at a weighted-average fixed rate of 3.45%. Separately, the fixed interest rate on $100 million of the 3.25% notes due in 2025 is effectively converted to a variable rate by interest rate swaps through 2025. Net interest payments are based on USD SOFR plus 1.487% (previously U.S. three-month LIBOR plus 1.22%) with an effective variable rate of 5.92% as of November 30, 2024. (2)Interest rate swaps, settled upon the issuance of these notes, effectively set the interest rate on the $750 million notes at a weighted-average fixed rate of 3.44%. Separately, the fixed interest rate on $250 million of the 3.40% notes due in 2027 is effectively converted to a variable rate by interest rate swaps through 2027. Net interest payments are based on USD SOFR plus 0.907% (previously U.S. three-month LIBOR plus 0.685%) with an effective rate of 5.73% as of November 30, 2024. (3)Interest rate swaps, settled upon the issuance of these notes, effectively set the interest rate on the $500 million notes at a weighted-average fixed rate of 2.62%. Separately, the fixed interest rate on $250 million of the 2.50% notes due in 2030 is effectively converted to a variable rate by interest rate swaps through 2030. Net interest payments are based on USD SOFR plus 0.684% with an effective rate of 5.22% as of November 30, 2024. (4)Treasury lock agreements, settled upon issuance of these notes, effectively set the interest rate on these $500 million notes at a weighted-average fixed rate of 5.00%. (5)Treasury lock agreements, settled upon issuance of these notes, effectively set the interest rate on these $500 million notes at a weighted-average fixed rate of 4.68%. (6)Includes unamortized discounts, premiums, and debt issuance costs of $(26.0) million and $(25.4) million as of November 30, 2024 and 2023, respectively. Includes fair value adjustment associated with interest rate swaps designated as fair value hedges of $(35.0) million and $(49.5) million as of November 30, 2024 and 2023, respectively.
Maturities Of Long-Term Debt | Maturities of long-term debt, including finance leases, during the fiscal years subsequent to November 30, 2024 are as follows (in millions):
2025 | $ | 265.2 |
2026 | 509.3 |
2027 | 759.7 |
2028 | 10.3 |
2029 | 18.0 |
Thereafter | 2,357.3 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1 + Details
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