Note 3 - Restructuring Actions

3 Months Ended

Feb. 28, 2026

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

Note 3: Restructuring Actions

Restructuring Plans

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 were completed as of November 29, 2025. Remaining cash payments will continue into fiscal year 2026. In implementing the Plans, the Company currently expects to incur pre-tax costs of approximately $85,000 to $90,000 for severance and related employee costs globally, and 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*
		*February 28, 2026*				*March 1, 2025*
Cost of sales		$	1,619			$	2,954
Selling, general and administrative			375				557
Other expense, net			1,196				-
		$	3,190			$	3,511

The restructuring charges are 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 November 30, 2024		$	8,430			$	-			$	-			$	8,430
Expenses incurred			14,314				(547	)			3,102				16,869
Non-cash charges			-				547				(580	)			(33	)
Cash payments			(14,143	)			-				(2,522	)			(16,665	)
Foreign currency translation			360				-				-				360
Balance at November 29, 2025		$	8,961			$	-			$	-			$	8,961
Expenses incurred			710				1,065				1,415				3,190
Non-cash charges			-				(1,065	)			(1,302	)			(2,367	)
Cash payments			(3,770	)			-				(113	)			(3,883	)
Foreign currency translation			(15	)			-				-				(15	)
Balance at February 28, 2026		$	5,886			$	-			$	-			$	5,886

Non-cash charges primarily include accelerated depreciation resulting from the cessation of use of certain long-lived assets, impairments of certain long-lived assets, the recording of an inventory provision related to the discontinuance of certain products, and inventory disposals. Restructuring liabilities have been classified as a component of other accrued expenses on the Consolidated Balance Sheets.

Other Restructuring

During the first quarter of 2026, the Company approved other restructuring actions related to global footprint optimization. The other restructuring actions began to be implemented in the first quarter of 2026 and are currently expected to be completed during fiscal year 2028. Restructuring costs are expected to be incurred over the next several fiscal quarters as the measures are implemented with the majority of the charges recognized and cash payments occurring in fiscal 2026 and 2027. In implementing the other restructuring actions, the Company currently expects to incur pre-tax costs of approximately $10,200 to $12,200 for severance and related employee costs globally, and other restructuring costs related to optimizing the Company’s footprint and the payment of anticipated income taxes in certain jurisdictions related to the actions.

The following table summarizes the pre-tax distribution of charges under these restructuring actions by income statement classification:

		*Three Months Ended*
		*February 28, 2026*				*March 1, 2025*
Cost of sales		$	3,920			$	-
Selling, general and administrative			910				-
		$	4,830			$	-

The restructuring charges are recorded in Corporate Unallocated for segment reporting purposes.

A summary of the restructuring liability is presented below:

		Employee-Related				Asset-Related				Total
Expenses incurred			1,731				3,099				4,830
Non-cash charges			-				(3,099	)			(3,099	)
Cash payments			(1,369	)			-				(1,369	)
Foreign currency translation			15				-				15
Balance at February 28, 2026		$	377			$	-			$	377

Non-cash charges primarily include accelerated depreciation resulting from the cessation of use of certain long-lived assets and impairments of certain long-lived assets. Restructuring liabilities have been classified as a component of other accrued expenses on the Consolidated Balance Sheets.