v3.26.1
Other (Expense) Income, Net
 6 Months Ended
May 31, 2026
Other Income and Expenses [Abstract]  
OTHER INCOME (EXPENSE), NET OTHER INCOME (EXPENSE), NET
The following table summarizes significant components of “Other income (expense), net”: 
 Three Months EndedSix Months Ended
 May 31,
2026		June 1,
2025		May 31,
2026		June 1,
2025
 (Dollars in millions)
Foreign exchange management gains(1)
$8.6 $40.9 $14.2 $30.1 
Foreign currency transaction losses(2)
(1.1)(39.6)(6.6)(37.4)
Marketable securities gains (losses)4.3 2.4 3.6 (2.8)
Legal settlement gain (3)
— — 33.0 — 
Other, net1.1 2.6 11.3 12.3 
Total other income (expense), net
$12.9 $6.3 $55.5 $2.2 
____________
(1)Gains and losses on forward foreign exchange contracts primarily result from currency fluctuations relative to negotiated contract rates. For the three and six months ended May 31, 2026, gains were primarily due to currency fluctuations relative to negotiated contract rates on positions to buy the Mexican peso and Australian dollar. For the three and six months ended June 1, 2025, gains were primarily due to currency fluctuations relative to negotiated contract rates on positions to buy the Euro.
(2)Foreign currency transaction gains and losses reflect the impact of currency fluctuations on the Company's foreign currency denominated balances. For the three and six months ended May 31, 2026, losses were primarily due to the impact of U.S. dollar weakening against the Mexican peso and Australian dollar. For the three and six months ended June 1, 2025, losses were primarily due to the impact of U.S. dollar weakening against the Euro.
(3)During the six months ended May 31, 2026 the Company recognized a gain related to a trademark infringement legal settlement.