v3.26.1
Fair Value Measurements
 12 Months Ended
Nov. 30, 2025
EBP 005 [Member]  
EBP, Investment, Fair Value and NAV [Line Items]  
Fair Value Measurements
3.
FAIR VALUE MEASUREMENTS
Accounting Standard Codification (“ASC”) 820,
Fair Value Measurements and Disclosures (“ASC 820”)
, provides a single authoritative definition of fair value, sets a framework for measuring fair value, and requires disclosures about fair value measurements. In accordance with ASC 820, the Plan classifies its investments into Level 1, which refers to securities valued using quoted prices from active markets for identical assets; Level 2, which refers to securities not traded on an active market but for which observable market inputs are readily available; and Level 3, which refers to securities valued based on significant unobservable inputs. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement
.
Transfers Between Levels
 —
The availability of observable market data is monitored to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. In such instances, the transfer is reported as of the beginning of the reporting period.
The Plan evaluates the significance of transfers between levels based upon the nature of the financial instrument and size of the transfer relative to total net assets available for benefits. For the years ended November 30, 2025 and 2024, there were no transfers between levels.
The techniques used to value the Plan’s investments are as follows:
 
  •  
Common stock. Valued utilizing a market approach wherein Plan management uses quoted prices in active markets for identical assets;
 
  •  
Mutual funds. Valued utilizing a market approach wherein Plan management uses the quoted prices in the active market for identical assets. All of the mutual funds are traded in active markets at their NAV per share. There are no restrictions as to redemption of these investments nor does the Plan have any contractual obligations to further invest in any of the individual mutual funds.
 
  •  
Common collective fund. Valued based on the NAV of units held by the collective fund. The NAV is based on the observable market prices of the underlying investments within the fund less liabilities. The NAV for the underlying assets of the fund is a readily determinable measure of their fair value and is the basis used by the fund for current transactions.
 
The following tables set forth, by level within the fair value hierarchy, a summary of the Plan’s investments measured at fair value on a recurring basis as of:
 
    
Assets measured
at fair value as of
November 30, 2025
     
Quoted prices in
active markets for
identical assets
(Level 1)
  
Common Stock
    $ 121,482,525      $ 121,482,525  
Mutual Funds:
      
Domestic Stock Funds
      495,100,957        495,100,957  
Balanced Funds
      379,312,812        379,312,812  
Fixed Income Funds
      54,682,492        54,682,492  
International Stock Funds
      55,586,709        55,586,709  
Money Market Funds
      62,922,906        62,922,906  
BrokerageLink Account:
      
Mutual Funds:
      
Money Market Funds
      3,971,257        3,971,257  
Precious Metal Funds
      622,200        622,200  
International Stock Funds
      2,331,883        2,331,883  
Alternative Funds
      1,671,600        1,671,600  
Fixed Income Funds
      1,530,777        1,530,777  
Commodity Funds
      18,109        18,109  
Other Equity Mutual Funds
      16,427,569        16,427,569  
  
 
 
     
 
 
  
     1,195,661,796      $ 1,195,661,796  
     
 
 
  
Common Collective Fund, at NAV practical expedient*
      226,147,685     
  
 
 
     
Total Investment Assets at Fair Value
    $ 1,421,809,481     
  
 
 
     
 
*
The fair value of this investment is provided above to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of net assets available for benefits.
 
    
Assets measured
at fair value as of
November 30, 2024
     
Quoted prices in
active markets for
identical assets
(Level 1)
  
Common Stock
    $ 160,839,089      $ 160,839,089  
Mutual Funds:
      
Domestic Stock Funds
      450,070,880        450,070,880  
Balanced Funds
      309,556,534        309,556,534  
Fixed Income Funds
      48,952,528        48,952,528  
International Stock Funds
      40,768,977        40,768,977  
Money Market Funds
      55,673,569        55,673,569  
BrokerageLink Account:
      
Mutual Funds:
      
Money Market Funds
      4,618,322        4,618,322  
Precious Metal Funds
      549,151        549,151  
International Stock Funds
      1,831,216        1,831,216  
Alternative Funds
      1,999,865        1,999,865  
Fixed Income Funds
      1,159,307        1,159,307  
Commodity Funds
      29,766        29,766  
Other Equity Mutual Funds
      15,438,839        15,438,839  
  
 
 
     
 
 
  
     1,091,488,043      $ 1,091,488,043  
     
 
 
  
Common Collective Fund, at NAV practical expedient*
      190,402,165     
  
 
 
     
Total Investment Assets at Fair Value
    $ 1,281,890,208     
  
 
 
     
 
*
The fair value of this investment is provided above to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of net assets available for benefits.
The valuation methods described in Note 2 may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although Plan management believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement as of the reporting date.