Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Aug. 31, 2024

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of accumulated other comprehensive income (loss)

The following table sets forth the components of accumulated other comprehensive loss, net of tax, where applicable (in millions):


	August 31, 2024		November 30, 2023
Foreign currency translation adjustment (1)	$	(302.6)	$	(305.7)
Unrealized gain (loss) on foreign currency exchange contracts	(1.9)		0.8

Unamortized value of settled interest rate swaps	(2.3)		(2.7)
Pension and other postretirement costs	(83.6)		(81.0)
Accumulated other comprehensive loss	$	(390.4)	$	(388.6)

(1)During the nine months ended August 31, 2024, the foreign currency translation adjustment of accumulated other comprehensive loss decreased on a net basis by $3.1 million, inclusive of $4.4 million of unrealized losses associated with net investment hedges. These net investment hedges are more fully described in note 3.

Reclassification out of Accumulated Other Comprehensive Income

The following table sets forth the amounts reclassified from accumulated other comprehensive income (loss) and into consolidated net income (in millions):


	Three months ended				Nine months ended				Affected Line Items in the Condensed Consolidated Income Statement
	August 31, 2024		August 31, 2023		August 31, 2024		August 31, 2023
(Gains)/losses on cash flow hedges:
Interest rate derivatives	$	0.2	$	—	$	0.5	$	(0.2)	Interest expense

Foreign exchange contracts	(0.4)		0.4		(1.9)		(0.9)		Cost of goods sold
Total before tax	(0.2)		0.4		(1.4)		(1.1)
Tax effect	—		(0.1)		0.3		0.3		Income tax expense
Net, after tax	$	(0.2)	$	0.3	$	(1.1)	$	(0.8)

Amortization of pension and postretirement benefit adjustments:
Amortization of prior service costs (1)	$	0.3	$	0.1	$	0.3	$	0.2	Other income, net
Amortization of net actuarial (gains)(1)	$	(0.9)	$	(0.5)	(2.5)		(1.5)		Other income, net
Total before tax	(0.6)		(0.4)		(2.2)		(1.3)
Tax effect	0.1		0.1		0.5		0.3		Income tax expense
Net, after tax	$	(0.5)	$	(0.3)	$	(1.7)	$	(1.0)

(1)This accumulated other comprehensive income (loss) component is included in the computation of total pension (income) and other postretirement benefits expense (refer to note 5 for additional details).