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Business Segment Information | 12 Months Ended
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Nov. 26, 2023
Segment Reporting [Abstract] |
BUSINESS SEGMENT INFORMATION | BUSINESS SEGMENT INFORMATION The Company manages its business according to three reportable segments: Americas, Europe, and Asia, collectively comprising the Company's Levi's Brands business, which includes the Levi's, Signature by Levi Strauss & Co.™ and Denizen® brands. Other Brands, which includes Dockers® and Beyond Yoga® businesses do not meet the quantitative thresholds for reportable segments and therefore are presented under the caption of Other Brands. Corporate expenses are comprised of selling, general and administrative expenses that management does not attribute to any of our operating segments and these expenses primarily relate to corporate administration, information resources, finance and human resources functional and organizational costs. The Company considers its chief executive officer to be its chief operating decision maker. The Company’s chief operating decision maker manages business operations, evaluates performance and allocates resources based on the segments’ net revenues and operating income. The Company reports inventories by segment as that information is used by the chief operating decision maker in assessing segment performance. The Company does not report its other assets by segment as that information is not used by the chief operating decision maker in assessing segment performance. Business segment information for the Company is as follows:
| Year Ended
| November 26, 2023 |  | November 27, 2022 |  | November 28, 2021
| (Dollars in millions)
Net revenues: |  |  |  |  |
Americas | $ | 3,086.9 |  |  | $ | 3,187.4 |  |  | $ | 2,934.8 |
Europe | 1,579.5 |  |  | 1,597.2 |  |  | 1,704.0 |
Asia | 1,059.7 |  |  | 952.1 |  |  | 834.7 |
Total segment net revenues | 5,726.1 |  |  | 5,736.7 |  |  | 5,473.5 |
Other Brands | 452.9 |  |  | 431.9 |  |  | 290.4 |
Total net revenues | $ | 6,179.0 |  |  | $ | 6,168.6 |  |  | $ | 5,763.9 |
Income before income taxes: |  |  |  |  |
Americas | $ | 535.3 |  |  | $ | 654.4 |  |  | $ | 660.2 |
Europe | 305.0 |  |  | 349.9 |  |  | 396.4 |
Asia | 147.2 |  |  | 111.2 |  |  | 35.1 |
Total segment operating income | 987.5 |  |  | 1,115.5 |  |  | 1,091.7 |
Other Brands | (0.1) |  |  | 17.1 |  |  | 10.4 |
Goodwill and other intangible asset impairment charges(1) | (90.2) |  |  | (11.6) |  |  | — |
Corporate expenses(2) | (543.9) |  |  | (474.5) |  |  | (415.9) |
Interest expense | (45.9) |  |  | (25.7) |  |  | (72.9) |
Loss on early extinguishment of debt | — |  |  | — |  |  | (36.5) |
Other (expense) income, net(3) | (42.2) |  |  | 28.8 |  |  | 3.4 |
Income before income taxes | $ | 265.2 |  |  | $ | 649.6 |  |  | $ | 580.2 |
___________ (1)For the year ended November 26, 2023, goodwill and other intangible asset impairment includes impairment charges of $75.4 million related to Beyond Yoga® reporting unit goodwill and $14.8 million related to the Beyond Yoga® trademark. For the year ended November 27, 2022, goodwill and other intangible asset impairment includes $11.6 million related to goodwill assigned to the Russia business. (2)Corporate expenses for the year ended November 27, 2022 includes $37.4 million in impairment charges related to certain store right-of-use assets and property, plant and equipment, net of a $15.8 million gain on the termination of store leases related to the Russia-Ukraine crisis which are considered part of the Company's Europe segment. (3)For the year ended November 26, 2023, Other (expense) income, net includes a noncash pension settlement charge recorded during the third quarter. For more information, refer to Note 10.
| Year Ended
| November 26, 2023 |  | November 27, 2022 |  | November 28, 2021
| (Dollars in millions)
Depreciation and amortization expense: |  |  |  |  |
Americas | $ | 51.4 |  |  | $ | 39.7 |  |  | $ | 39.1 |
Europe | 19.3 |  |  | 19.0 |  |  | 23.3 |
Asia | 12.9 |  |  | 12.3 |  |  | 13.3 |
Total segment depreciation and amortization expense | 83.6 |  |  | 71.0 |  |  | 75.7 |
Other Brands and unallocated | 81.7 |  |  | 87.9 |  |  | 67.5 |
Total depreciation and amortization expense | $ | 165.3 |  |  | $ | 158.9 |  |  | $ | 143.2 |
| November 26, 2023
| Americas |  | Europe |  | Asia |  | Segment Total |  | Unallocated(1) |  | Consolidated Total
| (Dollars in millions)
Assets: |  |  |  |  |  |  |  |  |  |  |
Inventories | $ | 673.1 |  |  | $ | 160.1 |  |  | $ | 181.0 |  |  | $ | 1,014.2 |  |  | $ | 275.9 |  |  | $ | 1,290.1 |
All other assets | — |  |  | — |  |  | — |  |  | — |  |  | 4,763.5 |  |  | 4,763.5 |
Total assets |  |  |  |  |  |  |  |  |  |  | $ | 6,053.6 |
___________ (1)Unallocated inventories include $195.1 million of Other Brands inventory.
| November 27, 2022
| Americas |  | Europe |  | Asia |  | Segment Total |  | Unallocated(1) |  | Consolidated Total
| (Dollars in millions)
Assets: |  |  |  |  |  |  |  |  |  |  |
Inventories | $ | 786.6 |  |  | $ | 207.8 |  |  | $ | 204.5 |  |  | $ | 1,198.9 |  |  | $ | 217.9 |  |  | $ | 1,416.8 |
All other assets | — |  |  | — |  |  | — |  |  | — |  |  | 4,621.0 |  |  | 4,621.0 |
Total assets |  |  |  |  |  |  |  |  |  |  | $ | 6,037.8 |
___________ (1)Unallocated inventories include $125.4 million of Other Brands inventory. Geographic information for the Company was as follows:
| Year Ended
| November 26, 2023 |  | November 27, 2022 |  | November 28, 2021
| (Dollars in millions)
Net revenues: |  |  |  |  |
United States | $ | 2,691.9 |  |  | $ | 2,883.5 |  |  | $ | 2,594.5 |
Foreign countries | 3,487.1 |  |  | 3,285.1 |  |  | 3,169.4 |
Total net revenues | $ | 6,179.0 |  |  | $ | 6,168.6 |  |  | $ | 5,763.9 |
Net deferred tax assets: |  |  |  |  |
United States | $ | 463.8 |  |  | $ | 379.0 |  |  | $ | 422.0 |
Foreign countries | 265.7 |  |  | 246.0 |  |  | 151.1 |
Total net deferred tax assets | $ | 729.5 |  |  | $ | 625.0 |  |  | $ | 573.1 |
Long-lived assets: |  |  |  |  |
United States | $ | 461.8 |  |  | $ | 454.2 |  |  | $ | 358.5 |
Foreign countries | 249.8 |  |  | 196.9 |  |  | 174.1 |
Total long-lived assets | $ | 711.6 |  |  | $ | 651.1 |  |  | $ | 532.6 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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