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Restructuring Activities

3 Months Ended

Mar. 01, 2026

Restructuring and Related Activities [Abstract]

RESTRUCTURING ACTIVITIES

RESTRUCTURING ACTIVITIES

For the three months ended March 1, 2026, the Company recognized restructuring charges of $7.9 million in connection with our continuing global productivity initiative, consisting primarily of severance and other post-employment benefits, based on separation benefits provided by Company policy or statutory benefit plans. These charges were recorded in “Restructuring charges, net” in the consolidated statements of income. As of March 1, 2026, the restructuring liability was $66.5 million, with $53.6 million and $12.9 million classified as “Other accrued liabilities” and “Other long-term liabilities”, respectively, within the Company’s consolidated balance sheet.

For the three months ended March 2, 2025, the Company recognized restructuring charges of $6.7 million in connection with Project Fuel, a multi-year global productivity initiative that was substantially complete as of November 30, 2025, consisting primarily of severance and other post-employment benefits, based on separation benefits provided by Company policy or statutory benefit plans as well as contract termination costs and asset impairments. These charges were recorded in “Restructuring charges, net” in the consolidated statements of income.

The Company also recognized $3.1 million of restructuring related charges during the three months ended March 2, 2025, consisting primarily of consulting fees which were recorded in “Selling, general and administrative expenses” in the consolidated statements of income.

The following tables summarize the activities associated with restructuring liabilities for the periods presented. "Net Charges (Reversals)" represents the initial charge related to the restructuring activity as well as revisions of estimates related to severance and employee-related benefits and other, "Payments" consists of cash payments for severance and employee-related benefits and other, and "Foreign Currency Fluctuations" includes foreign currency fluctuations.

			Three Months Ended March 1, 2026
			Liabilities						Net Charges (Reversals)(1)												Payments						Foreign Currency Fluctuations						Liabilities
			November 30, 2025															March 1, 2026
			(Dollars in millions)
Severance and employee-related benefits			$	53.1					$	16.0											$	(16.1)					$	0.2					$	53.2
Contract termination costs and other			16.9						0.2												(3.8)						—						13.3
Total			$	70.0					$	16.2											$	(19.9)					$	0.2					$	66.5

_____________

(1)Includes $8.4 million of Dockers® restructuring costs reported as discontinued operations.

			Three Months Ended March 2, 2025
			Liabilities						Net Charges (Reversals)(1)												Payments						Foreign Currency Fluctuations						Liabilities
			December 1, 2024															March 2, 2025
			(Dollars in millions)
Severance and employee-related benefits			$	83.7					$	3.9											$	(23.5)					$	(0.3)					$	63.8
Contract termination costs and other			20.7						1.7												(0.5)						(0.1)						21.8
Total			$	104.4					$	5.6											$	(24.0)					$	(0.4)					$	85.6

_____________

(1)Excludes $0.8 million in stock compensation related charges recorded in Additional paid-in capital and $2.1 million recorded in Property, plant and equipment, net related to impairment charges associated with the closure of distribution centers. Includes $1.8 million of Dockers® restructuring costs reported as discontinued operations.

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- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4.e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/420/tableOfContent

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

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