XML 55 R40.htm IDEA: XBRL DOCUMENT
v3.23.4

Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
--- | ---
Nov. 26, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Carrying amount of goodwill | The changes in the carrying amount of goodwill by business segment for the years ended November 26, 2023 and November 27, 2022, were as follows:
| Americas |  | Europe |  | Asia |  | Other Brands(1) |  | Total
| (Dollars in millions)
Balance, November 28, 2021 | $ | 231.4 |  |  | $ | 28.8 |  |  | $ | 3.0 |  |  | $ | 123.7 |  |  | $ | 386.9 |
Goodwill | 231.4 |  |  | 28.8 |  |  | 3.0 |  |  | 123.7 |  |  | 386.9 |
Accumulated impairment losses | — |  |  | — |  |  | — |  |  | — |  |  | — |
| $ | 231.4 |  |  | $ | 28.8 |  |  | $ | 3.0 |  |  | $ | 123.7 |  |  | $ | 386.9 |
Impairment losses | — |  |  | (11.6) |  |  | — |  |  | — |  |  | (11.6) |
Adjustments | — |  |  | — |  |  | — |  |  | (0.1) |  |  | (0.1) |
Foreign currency fluctuation | (1.9) |  |  | (7.5) |  |  | (0.1) |  |  | — |  |  | (9.5) |
Balance, November 27, 2022 |  |  |  |  |  |  |  |  |
Goodwill | 229.5 |  |  | 21.3 |  |  | 2.9 |  |  | 123.6 |  |  | 377.3 |
Accumulated impairment losses | — |  |  | (11.6) |  |  | — |  |  | — |  |  | (11.6) |
| $ | 229.5 |  |  | $ | 9.7 |  |  | $ | 2.9 |  |  | $ | 123.6 |  |  | $ | 365.7 |
Impairment losses | — |  |  | — |  |  | — |  |  | (75.4) |  |  | (75.4) |
Goodwill acquired during the year | 1.1 |  |  | 10.8 |  |  | — |  |  | — |  |  | 11.9 |
Foreign currency fluctuation | 1.1 |  |  | 0.5 |  |  | (0.1) |  |  | — |  |  | 1.5 |
Balance, November 26, 2023 |  |  |  |  |  |  |  |  |
Goodwill | 231.7 |  |  | 32.6 |  |  | 2.8 |  |  | 123.6 |  |  | 390.7 |
Accumulated impairment losses | — |  |  | (11.6) |  |  | — |  |  | (75.4) |  |  | (87.0) |
Balance, November 26, 2023 | $ | 231.7 |  |  | $ | 21.0 |  |  | $ | 2.8 |  |  | $ | 48.2 |  |  | $ | 303.7 |
_____________ (1)Comprised of the Beyond Yoga® reporting unit goodwill only.
Finite-lived intangible assets | Other intangible assets, net, were as follows:
| November 26, 2023 |  | November 27, 2022
| Gross Carrying Value |  | Accumulated Amortization |  | Total |  | Gross Carrying Value |  | Accumulated Amortization |  | Total
| (Dollars in millions)
Non-amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Trademarks(1) | $ | 243.9 |  |  | $ | — |  |  | $ | 243.9 |  |  | $ | 258.7 |  |  | $ | — |  |  | $ | 258.7 |
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationships and other | 38.3 |  |  | (14.6) |  |  | 23.7 |  |  | 37.9 |  |  | (9.9) |  |  | 28.0 |
Total | $ | 282.2 |  |  | $ | (14.6) |  |  | $ | 267.6 |  |  | $ | 296.6 |  |  | $ | (9.9) |  |  | $ | 286.7 |
_____________ (1)Includes the carrying value of the Beyond Yoga® trademark of $201.1 million, the Level 3 fair value as of the test date, which reflects the cumulative $14.8 million noncash impairment charge, all of which was taken in the third quarter of 2023.
Indefinite-lived intangible assets | Other intangible assets, net, were as follows:
| November 26, 2023 |  | November 27, 2022
| Gross Carrying Value |  | Accumulated Amortization |  | Total |  | Gross Carrying Value |  | Accumulated Amortization |  | Total
| (Dollars in millions)
Non-amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Trademarks(1) | $ | 243.9 |  |  | $ | — |  |  | $ | 243.9 |  |  | $ | 258.7 |  |  | $ | — |  |  | $ | 258.7 |
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationships and other | 38.3 |  |  | (14.6) |  |  | 23.7 |  |  | 37.9 |  |  | (9.9) |  |  | 28.0 |
Total | $ | 282.2 |  |  | $ | (14.6) |  |  | $ | 267.6 |  |  | $ | 296.6 |  |  | $ | (9.9) |  |  | $ | 286.7 |
_____________ (1)Includes the carrying value of the Beyond Yoga® trademark of $201.1 million, the Level 3 fair value as of the test date, which reflects the cumulative $14.8 million noncash impairment charge, all of which was taken in the third quarter of 2023.
Estimated future amortization expense | Estimated amortization expense for each of the next five years is as follows:
| November 26, 2023
| (Dollars in millions)
2024 | $ | 4.4 |
2025 | 4.4 |
2026 | 4.0 |
2027 | 2.3 |
2028 | 2.3 |
Thereafter | 6.3 |
Total | $ | 23.7 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482548/350-20-55-24 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-2 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b),(d) -SubTopic 30 -Topic 350 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-3 + Details
Name: | us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration