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Note 5 - Goodwill and Other Intangible Assets | 9 Months Ended
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Aug. 30, 2025
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 5: Goodwill and Other Intangible Assets The goodwill activity by reportable segment for the nine months ended August 30, 2025 is presented below:
|  |  | Hygiene, Health |  |  |  |  |  |  |  | Building |  |  |  |  |
|  | and Consumable |  |  | Engineering |  |  | Adhesive |  |  |  |  |
|  | Adhesives |  |  | Adhesives |  |  | Solutions |  |  | Total |
Balance at November 30, 2024 |  | $ | 399,513 |  |  | $ | 581,344 |  |  | $ | 551,364 |  |  | $ | 1,532,221 |
Acquisitions |  |  | 90,198 |  |  |  | 2,572 |  |  |  | (851 | ) |  |  | 91,919 |
Foreign currency translation effect |  |  | 30,716 |  |  |  | 24,427 |  |  |  | 2,604 |  |  |  | 57,747 |
Balance at August 30, 2025 |  | $ | 520,427 |  |  | $ | 608,343 |  |  | $ | 553,117 |  |  | $ | 1,681,887 |
As discussed in Note 14, as of the beginning of fiscal year 2025, we realigned our operating segment structure with the renamed Building Adhesive Solutions segment, which includes all of the former Construction Adhesives goodwill. A portion of the Engineering Adhesives goodwill was reclassified to the Building Adhesive Solutions segment based on the relative fair value approach. Balances of amortizable identifiable intangible assets, excluding goodwill and other non-amortizable intangible assets, are as follows:
|  | August 30, 2025 |
|  | Purchased |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Technology |  |  | Customer |  |  |  |  |  |  |  |  |  |  |  |  |
Amortizable Intangible Assets |  | and Patents |  |  | Relationships |  |  | Trade Names |  |  | Other |  |  | Total |
Original cost |  | $ | 225,700 |  |  | $ | 1,000,997 |  |  | $ | 82,194 |  |  | $ | 7,930 |  |  | $ | 1,316,821 |
Accumulated amortization |  |  | (48,520 | ) |  |  | (400,390 | ) |  |  | (33,171 | ) |  |  | (5,310 | ) |  |  | (487,391 | )
Net identifiable intangibles |  | $ | 177,180 |  |  | $ | 600,607 |  |  | $ | 49,023 |  |  | $ | 2,620 |  |  | $ | 829,430 |
|  | November 30, 2024 |
|  | Purchased |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Technology |  |  | Customer |  |  |  |  |  |  |  |  |  |  |  |  |
Amortizable Intangible Assets |  | and Patents |  |  | Relationships |  |  | Trade Names |  |  | Other |  |  | Total |
Original cost |  | $ | 145,313 |  |  | $ | 1,063,210 |  |  | $ | 67,280 |  |  | $ | 10,031 |  |  | $ | 1,285,834 |
Impairment |  |  | (343 | ) |  |  | (5,616 | ) |  |  | (150 | ) |  |  | - |  |  |  | (6,109 | )
Accumulated amortization |  |  | (55,398 | ) |  |  | (418,805 | ) |  |  | (28,745 | ) |  |  | (7,012 | ) |  |  | (509,960 | )
Net identifiable intangibles |  | $ | 89,572 |  |  | $ | 638,789 |  |  | $ | 38,385 |  |  | $ | 3,019 |  |  | $ | 769,765 |
Amortization expense with respect to amortizable intangible assets was $22,082 and $22,149 for the three months ended August 30, 2025 and August 31, 2024, respectively, and was $64,525 and $61,723 for the nine months ended August 30, 2025 and August 31, 2024, respectively. Estimated aggregate amortization expense based on the current carrying value of amortizable intangible assets for the next five fiscal years is as follows:
|  | Remainder |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fiscal Year |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | 2028 |  |  | 2029 |  |  | Thereafter |
Amortization expense |  | $ | 23,632 |  |  | $ | 105,293 |  |  | $ | 103,909 |  |  | $ | 105,102 |  |  | $ | 99,473 |  |  | $ | 392,021 |
The above amortization expense forecast is an estimate. Actual amounts may change from such estimated amounts due to fluctuations in foreign currency exchange rates, additional intangible asset acquisitions, potential impairment, accelerated amortization or other events. Non-amortizable intangible assets as of August 30, 2025 and November 30, 2024 were $0 and $461, respectively, and relate to trademarks and trade names. The change in non-amortizable assets as of August 30, 2025 compared to November 30, 2024 was due to impairment.

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