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Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
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Dec. 01, 2024
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 December 1, 2024 and November 26, 2023, were as follows:
| Americas |  | Europe |  | Asia |  | Other Brands(1) |  | Total
| (Dollars in millions)
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(2) | — |  |  | — |  |  | — |  |  | (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) |
| $ | 231.7 |  |  | $ | 21.0 |  |  | $ | 2.8 |  |  | $ | 48.2 |  |  | $ | 303.7 |
Impairment losses(3) | — |  |  | (5.5) |  |  | — |  |  | (36.3) |  |  | (41.8) |
Goodwill acquired during the year(4) | 15.9 |  |  | 5.0 |  |  | — |  |  | — |  |  | 20.9 |
Foreign currency fluctuation | (4.9) |  |  | (0.4) |  |  | 0.1 |  |  | — |  |  | (5.2) |
Balance, December 1, 2024 |  |  |  |  |  |  |  |  |
Goodwill | 242.7 |  |  | 37.2 |  |  | 2.9 |  |  | 123.6 |  |  | 406.4 |
Accumulated impairment losses | — |  |  | (17.1) |  |  | — |  |  | (111.7) |  |  | (128.8) |
Balance, December 1, 2024 | $ | 242.7 |  |  | $ | 20.1 |  |  | $ | 2.9 |  |  | $ | 11.9 |  |  | $ | 277.6 |
_____________ (1)Comprised of the Beyond Yoga® reporting unit goodwill only. (2)For the year ended November 26, 2023 the Company recorded a Beyond Yoga® goodwill noncash impairment charge of $75.4 million. (3)For the year ended December 1, 2024 the Company recorded a $5.5 million goodwill noncash impairment charge related to our footwear business as a result of the decision to discontinue the category and a Beyond Yoga® goodwill noncash impairment charge of $36.3 million. (4)For the year ended December 1, 2024 the Company recorded goodwill of $15.9 million in connection with the acquisition of all operating assets related to Levi’s® brands from Expofaro S.A.S., the Company’s former distributor in Colombia.
Finite-lived intangible assets | Other intangible assets, net, were as follows:
| December 1, 2024 |  | November 26, 2023
| Gross Carrying Value |  | Accumulated Amortization |  | Total |  | Gross Carrying Value |  | Accumulated Amortization |  | Total
| (Dollars in millions)
Non-amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Trademarks(1) | $ | 177.9 |  |  | $ | — |  |  | $ | 177.9 |  |  | $ | 243.9 |  |  | $ | — |  |  | $ | 243.9 |
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationships and other(2) | 37.6 |  |  | (18.9) |  |  | 18.7 |  |  | 38.3 |  |  | (14.6) |  |  | 23.7 |
Total | $ | 215.5 |  |  | $ | (18.9) |  |  | $ | 196.6 |  |  | $ | 282.2 |  |  | $ | (14.6) |  |  | $ | 267.6 |
_____________ (1)For the year ended December 1, 2024 the Company recorded a Beyond Yoga® trademark noncash impairment charge of $66.0 million based on a Level 3 fair value of $135.1 million. For the year ended November 26, 2023 the Company recorded a Beyond Yoga® trademark noncash impairment charge of $14.8 million based on a Level 3 fair value of $201.1 million. (2)For the year ended December 1, 2024 the Company recorded a Beyond Yoga® customer relationship intangible assets noncash impairment charge of $9.1 million based on a Level 3 fair value of $9.7 million.
Indefinite-lived intangible assets | Other intangible assets, net, were as follows:
| December 1, 2024 |  | November 26, 2023
| Gross Carrying Value |  | Accumulated Amortization |  | Total |  | Gross Carrying Value |  | Accumulated Amortization |  | Total
| (Dollars in millions)
Non-amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Trademarks(1) | $ | 177.9 |  |  | $ | — |  |  | $ | 177.9 |  |  | $ | 243.9 |  |  | $ | — |  |  | $ | 243.9 |
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationships and other(2) | 37.6 |  |  | (18.9) |  |  | 18.7 |  |  | 38.3 |  |  | (14.6) |  |  | 23.7 |
Total | $ | 215.5 |  |  | $ | (18.9) |  |  | $ | 196.6 |  |  | $ | 282.2 |  |  | $ | (14.6) |  |  | $ | 267.6 |
_____________ (1)For the year ended December 1, 2024 the Company recorded a Beyond Yoga® trademark noncash impairment charge of $66.0 million based on a Level 3 fair value of $135.1 million. For the year ended November 26, 2023 the Company recorded a Beyond Yoga® trademark noncash impairment charge of $14.8 million based on a Level 3 fair value of $201.1 million. (2)For the year ended December 1, 2024 the Company recorded a Beyond Yoga® customer relationship intangible assets noncash impairment charge of $9.1 million based on a Level 3 fair value of $9.7 million.
Estimated future amortization expense | Estimated amortization expense for each of the next five years is as follows:
| December 1, 2024
| (Dollars in millions)
2025 | $ | 3.5 |
2026 | 3.3 |
2027 | 2.5 |
2028 | 2.5 |
2029 | 2.5 |
Thereafter | 4.4 |
Total | $ | 18.7 |

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