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Note 3 - Restructuring Actions | 9 Months Ended
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Aug. 31, 2024
Notes to Financial Statements |
Restructuring and Related Activities Disclosure [Text Block] | Note 3: Restructuring Actions During fiscal year 2023, the Company approved restructuring plans (the "Plans") related to organizational changes and other actions to optimize operations and integrate acquired businesses. The Plans were implemented in the second quarter of fiscal year 2023 and are currently expected to be completed during fiscal year 2026, with the majority of the charges recognized and cash payments occurring in fiscal 2023 and 2024. In implementing the Plans, the Company currently expects to incur pre-tax costs of approximately $39,100 to $50,100 for severance and related employee costs globally, other restructuring costs related to the streamlining of processes and the payment of anticipated income taxes in certain jurisdictions related to the Plans. The following table summarizes the pre-tax distribution of charges under these restructuring plans by income statement classification:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | August 31, 2024 |  |  | September 2, 2023 |  |  | August 31, 2024 |  |  | September 2, 2023 |
Cost of sales |  | $ | 2,119 |  |  | $ | 3,322 |  |  | $ | 6,313 |  |  | $ | 8,407 |
Selling, general and administrative |  |  | 2,632 |  |  |  | 5,077 |  |  |  | 5,076 |  |  |  | 8,320 |
|  | $ | 4,751 |  |  | $ | 8,399 |  |  | $ | 11,389 |  |  | $ | 16,727 |
The restructuring charges are all recorded in Corporate Unallocated for segment reporting purposes. A summary of the restructuring liability is presented below:
|  | Employee-Related |  |  | Asset-Related |  |  | Other |  |  | Total |
Balance at December 3, 2022 |  | $ | 57 |  |  | $ | - |  |  | $ | - |  |  | $ | 57 |
Expenses incurred |  |  | 22,731 |  |  |  | 1,369 |  |  |  | 487 |  |  |  | 24,587 |
Non-cash charges |  |  | - |  |  |  | (1,369 | ) |  |  | (453 | ) |  |  | (1,822 | )
Cash payments |  |  | (9,802 | ) |  |  | - |  |  |  | (34 | ) |  |  | (9,836 | )
Foreign currency translation |  |  | (1,263 | ) |  |  | - |  |  |  | - |  |  |  | (1,263 | )
Balance at December 2, 2023 |  | $ | 11,723 |  |  | $ | - |  |  | $ | - |  |  | $ | 11,723 |
Expenses incurred |  |  | 7,825 |  |  |  | 3,451 |  |  |  | 113 |  |  |  | 11,389 |
Non-cash charges |  |  | - |  |  |  | (3,451 | ) |  |  | (102 | ) |  |  | (3,553 | )
Cash payments |  |  | (12,459 | ) |  |  | - |  |  |  | (11 | ) |  |  | (12,470 | )
Foreign currency translation |  |  | (44 | ) |  |  | - |  |  |  | - |  |  |  | (44 | )
Balance at August 31, 2024 |  | $ | 7,045 |  |  | $ | - |  |  | $ | - |  |  | $ | 7,045 |
Non-cash charges primarily include accelerated depreciation resulting from the cessation of use of certain long-lived assets and inventory disposals. Restructuring liabilities have been classified as a component of other accrued expenses on the Consolidated Balance Sheets.

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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 -Publisher FASB -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 + Details
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