0000063754-20-000160 | 10-Q | XBRL Viewer

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Document and Entity Information	9 Months Ended
Document and Entity Information	Aug. 31, 2020 shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 31, 2020
Document Transition Report	false
Entity File Number	001-14920
Entity Registrant Name	MCCORMICK & CO INC
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	52-0408290
Entity Address, Address Line One	24 Schilling Road, Suite 1,
Entity Address, City or Town	Hunt Valley,
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21031
City Area Code	410
Local Phone Number	771-7301
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000063754
Current Fiscal Year End Date	--11-30
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	MKC-V
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding	9,063,590
Nonvoting Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock Non-Voting
Trading Symbol	MKC
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding	124,347,973

CONDENSED CONSOLIDATED INCOME STATEMENT (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019
Net sales	$ 1,430.3	$ 1,329.2	$ 4,043.4	$ 3,862.6
Cost of goods sold	840.0	789.3	2,403.7	2,347.3
Gross profit	590.3	539.9	1,639.7	1,515.3
Selling, general and administrative expense	317.2	278.7	911.1	839.9
Special charges	0.1	7.7	4.0	16.9
Operating income	273.0	253.5	724.6	658.5
Interest expense	33.5	41.3	103.2	126.7
Other income, net	3.9	6.9	12.5	19.3
Income from consolidated operations before income taxes	243.4	219.1	633.9	551.1
Income tax expense	46.9	36.8	117.4	91.0
Net income from consolidated operations	196.5	182.3	516.5	460.1
Income from unconsolidated operations	9.6	9.6	30.2	29.2
Net income	$ 206.1	$ 191.9	$ 546.7	$ 489.3
Earnings per share - basic (usd per share)	$ 1.55	$ 1.45	$ 4.11	$ 3.69
Average shares outstanding - basic (shares)	133.3	132.8	133.1	132.5
Earnings per share - diluted (usd per share)	$ 1.53	$ 1.43	$ 4.06	$ 3.65
Average shares outstanding - diluted (shares)	134.8	134.2	134.5	134.0
Common Stock
Cash dividends paid per common share (usd per share)	$ 0.62	$ 0.57	$ 1.86	$ 1.71
Common Stock, Dividends, Per Share, Declared	$ 0.62	$ 0.57	$ 1.24	$ 1.14

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME [Abstract]
Net income	$ 206.1	$ 191.9	$ 546.7	$ 489.3
Net income attributable to non-controlling interest	1.6	0.3	3.1	1.5
Other comprehensive income (loss):
Unrealized components of pension and postretirement plans	(2.1)	(0.7)	3.6	(2.8)
Currency translation adjustments	146.7	(44.9)	65.8	(66.8)
Change in derivative financial instruments	(0.7)	(0.1)	0.2	(0.1)
Deferred taxes	3.2	0.0	(1.6)	0.4
Comprehensive income	147.1	(45.7)	68.0	(69.3)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 354.8	$ 146.5	$ 617.8	$ 421.5

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Aug. 31, 2020	Nov. 30, 2019	Aug. 31, 2019
Current Assets
Cash and cash equivalents	$ 221.0	$ 155.4	$ 162.9
Trade accounts receivable, net	496.5	502.9	494.6
Inventories, net
Finished products	437.5	413.3	442.5
Raw materials and work-in-process	504.6	387.9	404.4
Total inventory	942.1	801.2	846.9
Prepaid expenses and other current assets	100.0	90.7	85.0
Total current assets	1,759.6	1,550.2	1,589.4
Property, plant and equipment, net	960.9	952.6	910.0
Goodwill	4,574.4	4,505.2	4,496.5
Intangible assets, net	2,843.0	2,847.0	2,850.3
Other long-term assets	722.8	507.1	519.8
Total assets	10,860.7	10,362.1	10,366.0
Current Liabilities
Short-term borrowings	167.8	600.7	683.6
Current portion of long-term debt	263.7	97.7	119.3
Trade accounts payable	902.8	846.9	783.1
Other accrued liabilities	619.2	609.1	444.4
Total current liabilities	1,953.5	2,154.4	2,030.4
Long-term debt	3,737.5	3,625.8	3,843.1
Deferred taxes	704.4	697.6	701.2
Other long-term liabilities	519.3	427.6	310.7
Total liabilities	6,914.7	6,905.4	6,885.4
Shareholders’ Equity
Retained earnings	2,391.0	2,055.8	2,019.8
Accumulated other comprehensive loss	(429.9)	(500.2)	(428.3)
Non-controlling interests	13.3	12.5	11.9
Total shareholders’ equity	3,946.0	3,456.7	3,480.6
Total liabilities and shareholders’ equity	10,860.7	10,362.1	10,366.0
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Attributable to Parent	3,932.7	3,444.2	3,468.7
Common Stock
Shareholders’ Equity
Common stock	480.5	447.6	441.3
Nonvoting Common Stock
Shareholders’ Equity
Common stock	$ 1,491.1	$ 1,441.0	$ 1,435.9

CONDENSED CONSOLIDATED CASH FLOW STATEMENT (UNAUDITED) - USD ($) $ in Millions	9 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Operating activities
Net income	$ 546.7	$ 489.3
Adjustments to reconcile net income to net cash flow provided by operating activities:
Depreciation and amortization	123.9	118.0
Stock-based compensation	37.8	30.6
Income from unconsolidated operations	(30.2)	(29.2)
Changes in operating assets and liabilities	(74.9)	(139.8)
Dividends from unconsolidated affiliates	23.4	25.7
Net cash flow provided by operating activities	626.7	494.6
Investing activities
Capital expenditures (including software)	(145.6)	(107.1)
Other investing activities	2.3	2.6
Net cash flow used in investing activities	(143.3)	(104.5)
Financing activities
Short-term borrowings, net	(432.0)	124.4
Long-term debt borrowings	506.4	0.0
Payment of debt issuance costs	(1.1)
Long-term debt repayments	(256.0)	(214.6)
Proceeds from exercised stock options	54.1	84.6
Taxes withheld and paid on employee stock awards	(10.7)	(10.3)
Common stock acquired by purchase	(46.0)	(76.9)
Dividends paid	(247.4)	(226.4)
Net cash flow used in financing activities	(432.7)	(319.2)
Effect of exchange rate changes on cash and cash equivalents	14.9	(4.6)
Increase in cash and cash equivalents	65.6	66.3
Cash and cash equivalents at beginning of period	155.4	96.6
Cash and cash equivalents at end of period	$ 221.0	$ 162.9

Consolidated Statement Of Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Non-Controlling Interests [Member]	Nonvoting Common Stock Common Stock
Balance, Shares at Nov. 30, 2018		9.6				122.5
Balance, Value at Nov. 30, 2018	$ 3,182.2	$ 1,770.6	$ 1,760.2	$ (359.9)	$ 11.3
Comprehensive income:
Net income	489.3		489.3
Net income attributable to non-controlling interest	1.5				1.5
Other comprehensive income (loss), net of tax	(69.3)			(68.4)	(0.9)
Currency translation adjustments	(66.8)
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	30.6	$ 30.6
Shares purchased and retired, Shares		(0.2)				(0.4)
Shares purchased and retired, Value	(91.9)	$ (13.3)	(78.6)
Equal exchange, shares		(1.5)				1.5
Balance, Shares at Aug. 31, 2019		9.3				123.6
Balance, Value at Aug. 31, 2019	3,480.6	$ 1,877.2	2,019.8	(428.3)	11.9
Comprehensive income:
Stock Issued During Period, Shares, New Issues		1.4				0.0
Stock Issued During Period, Value, New Issues	89.3	$ 89.3
Dividends	(151.1)		(151.1)
Balance, Shares at May. 31, 2019		9.5				123.0
Balance, Value at May. 31, 2019	3,382.6	$ 1,835.0	1,918.6	(382.7)	11.7
Comprehensive income:
Net income	191.9		191.9
Net income attributable to non-controlling interest	0.3				0.3
Other comprehensive income (loss), net of tax	(45.7)			(45.6)	(0.1)
Currency translation adjustments	(44.9)
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	7.8	$ 7.8
Shares purchased and retired, Shares		(0.1)				0.0
Shares purchased and retired, Value	(18.3)	$ (3.2)	(15.1)
Equal exchange, shares		(0.6)				0.6
Balance, Shares at Aug. 31, 2019		9.3				123.6
Balance, Value at Aug. 31, 2019	3,480.6	$ 1,877.2	2,019.8	(428.3)	11.9
Comprehensive income:
Stock Issued During Period, Shares, New Issues		0.5				0.0
Stock Issued During Period, Value, New Issues	37.6	$ 37.6
Dividends	(75.6)		(75.6)
Balance, Shares at Nov. 30, 2019		9.3				123.6
Balance, Value at Nov. 30, 2019	3,456.7	$ 1,888.6	2,055.8	(500.2)	12.5
Comprehensive income:
Net income	546.7		546.7
Net income attributable to non-controlling interest	3.1				3.1
Other comprehensive income (loss), net of tax	68.0			70.3	(2.3)
Currency translation adjustments	65.8
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	37.8	$ 37.8
Shares purchased and retired, Shares		(0.2)				(0.1)
Shares purchased and retired, Value	(59.1)	$ (12.6)	(46.5)
Equal exchange, shares		(0.8)				0.8
Balance, Shares at Aug. 31, 2020		9.1				124.3
Balance, Value at Aug. 31, 2020	3,946.0	$ 1,971.6	2,391.0	(429.9)	13.3
Comprehensive income:
Stock Issued During Period, Shares, New Issues		0.8				0.0
Stock Issued During Period, Value, New Issues	57.8	$ 57.8
Dividends	(165.0)		(165.0)
Balance, Shares at May. 31, 2020		9.3				123.9
Balance, Value at May. 31, 2020	3,662.3	$ 1,938.9	2,288.7	(577.7)	12.4
Comprehensive income:
Net income	206.1		206.1
Net income attributable to non-controlling interest	1.6				1.6
Other comprehensive income (loss), net of tax	147.1			147.8	(0.7)
Currency translation adjustments	146.7
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	10.7	$ 10.7
Shares purchased and retired, Shares		(0.1)				0.0
Shares purchased and retired, Value	(28.6)	$ (7.4)	(21.2)
Equal exchange, shares		(0.4)				0.4
Balance, Shares at Aug. 31, 2020		9.1				124.3
Balance, Value at Aug. 31, 2020	3,946.0	$ 1,971.6	2,391.0	$ (429.9)	$ 13.3
Comprehensive income:
Stock Issued During Period, Shares, New Issues		0.3				0.0
Stock Issued During Period, Value, New Issues	29.4	$ 29.4
Dividends	$ (82.6)		$ (82.6)

Accounting Policies	9 Months Ended
Accounting Policies	Aug. 31, 2020
Accounting Policies [Abstract]
Accounting Policies	ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all the information and notes required by United States generally accepted accounting principles (U.S. GAAP) for complete financial statements. In our opinion, the accompanying condensed consolidated financial statements contain all adjustments, which are of a normal and recurring nature, necessary to present fairly the financial position and the results of operations for the interim periods presented. The consolidated balance sheet as of August 31, 2019 includes a reclassification of $59.8 million of capitalized software from property, plant and equipment, net, to other long-term assets to conform to our current presentation. The results of consolidated operations for the nine-month period ended August 31, 2020 are not necessarily indicative of the results to be expected for the full year. Historically, our net sales, net income and cash flow from operations have been lower in the first half of the fiscal year and higher in the second half. The historical increase in net sales, net income and cash flow from operations in the second half of the year has largely been due to the consumer business cycle in the U.S., where customers typically purchase more products in the fourth quarter due to the Thanksgiving and Christmas holiday seasons. For further information, refer to the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended November 30, 2019. Impact of COVID-19 On March 11, 2020, the World Health Organization designated a new coronavirus (“COVID-19”) as a global pandemic. Governments around the world mandated orders to slow the transmission of the virus that included shelter-in-place orders, quarantines, and significant restrictions on travel, as well as work restrictions that prohibited many employees from going to work. The extent and nature of government actions have varied during the nine months ended August 31, 2020 based upon the then-current extent and severity of the COVID-19 pandemic within their respective countries and localities. Uncertainty with respect to the economic effects of the pandemic has introduced significant volatility in the financial markets. We are partnering with our customers to react to consumer demand changes associated with COVID-19. The effects of COVID-19 on consumer behavior have, on a net basis, favorably impacted the operating results of our consumer segment and unfavorably impacted the operating results of our flavor solutions segment in the three months and nine months ended August 31, 2020. The impact of COVID-19 on our consumer segment during those periods resulted in a significant increase in at-home consumption and related demand for our products. The unfavorable impact on our flavor solutions segment during the same periods was principally attributable to decreased demand from certain customers that were affected by government mandates related to COVID-19 in many of our markets. Those measures included closures of dine-in restaurants or restrictions on the operations of those restaurants to carry-out or delivery only as well as restrictions on the operations of quick service restaurants to drive-through pick-up or delivery. Those negative demand impacts in our flavor solutions segment were partially offset by increased at-home consumption from certain customers in our flavor solutions segment that use our products to flavor their own brands for at-home consumption. Accounting Pronouncements Adopted in 2020 As more fully described in note 1 of notes to consolidated financial statements included in our Form 10-K for the year ended November 30, 2019, we were required to adopt the new accounting standard for leases, Accounting Standards Codification Topic 842 Leases (ASC 842), as of December 1, 2019 and we elected to do so using a modified retrospective transition method. That modified retrospective transition method allowed us to initially apply the new standard at the adoption date and recognize a cumulative-effect adjustment to retained earnings in the opening balance sheet in the period of adoption without restating prior periods. ASC 842 revised prior practice related to accounting for leases under Accounting Standards Codification Topic 840 Leases (ASC 840) for both lessees and lessors and requires lessees to recognize most leases on their balance sheets as lease liabilities with corresponding right-of-use ("ROU") assets. Under ASC 842, the lease liability is equal to the present value of lease payments, and the ROU asset is based on the lease liability, subject to adjustments, such as for deferred rent and initial direct costs. For income statement purposes, ASC 842 retains a dual model similar to ASC 840, requiring leases to be classified as either operating or finance. For lessees, operating leases will result in straight-line expense (similar to prior accounting by lessees for operating leases under ASC 840) while finance leases will result in a front-loaded expense pattern (similar to prior accounting by lessees for capital leases under ASC 840). We elected the package of practical expedients permitted under the transition guidance, which, among other things, allows us to carry forward the historical lease classification. In addition, we made accounting policy elections to combine the lease and non-lease components for all asset categories other than real estate. We also made elections to exclude from balance sheet reporting those leases with initial terms of 12 months or less ("short-term leases"). Adoption of the new standard resulted in the recording of operating lease ROU assets and lease liabilities of $136.5 million and $140.0 million, respectively, with the difference due to prepaid and deferred rents that were reclassified to the ROU asset value. No cumulative-effect adjustment to opening retained earnings was required as of December 1, 2019. The standard did not materially affect our consolidated net income or cash flows for the three- and nine-month periods ended August 31, 2020. See note 4 for further details. Recently Issued Accounting Pronouncements — Pending Adoption In January 2017, the Financial Accounting Standards Board ("FASB") issued ASU No. 2017-04 Intangibles—Goodwill and Other Topics (Topic 350)—Simplifying the Test for Goodwill Impairment. This guidance eliminates the requirement to calculate the implied fair value of goodwill of a reporting unit to measure a goodwill impairment charge. Instead, a company will record an impairment charge based on the excess of a reporting unit's carrying amount over its fair value. The new standard will be effective for the first quarter of our fiscal year ending November 30, 2021. Early adoption is permitted for all entities for annual and interim goodwill impairment testing dates after January 1, 2017. We currently do not expect this guidance to have a material impact on our consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which institutes a new model for recognizing credit losses on financial instruments that are not measured at fair value. The ASU is effective for the first quarter of our fiscal year ending November 30, 2021, and we anticipate that it will primarily impact our credit losses recognized for trade accounts receivable. We currently do not expect this guidance to have a material impact on our consolidated financial statements.

Special Charges

9 Months Ended

Aug. 31, 2020

Special Charges [Abstract]

Special Charges [Text Block]

SPECIAL CHARGES

In our consolidated income statement, we include a separate line item captioned “Special charges” in arriving at our consolidated operating income. Special charges consist of expenses associated with certain actions undertaken by the Company to reduce fixed costs, simplify or improve processes, and improve our competitiveness and are of such significance in terms of both up-front costs and organizational/structural impact to require advance approval by our Management Committee, comprised of our senior management, including our Chairman, President and Chief Executive Officer. Upon presentation of any such proposed action (generally including details with respect to estimated costs, which typically consist principally of employee severance and related benefits, together with ancillary costs associated with the action that may include a non-cash component or a component which relates to inventory adjustments that are included in cost of goods sold; impacted employees or operations; expected timing; and expected savings) to the Management Committee and the Committee’s advance approval, expenses associated with the approved action are classified as special charges upon recognition and monitored on an on-going basis through completion.

The following is a summary of special charges recognized in the three and nine months ended August 31, 2020 and 2019 (in millions):


	Three months ended August 31,						Nine months ended August 31,
	2020		2019		2020		2019
Employee severance and related benefits	$	—	$	1.1	$	2.2	$	5.1
Other costs	0.1		6.6		1.8		11.8
Total	$	0.1	$	7.7	$	4.0	$	16.9

We continue to evaluate changes to our organization structure to enable us to reduce fixed costs, simplify or improve processes, and improve our competitiveness.

In 2017, our Management Committee approved a multi-year initiative during which we expect to execute significant changes to our global processes, capabilities and operating model to provide a scalable platform for future growth. We expect this initiative

to enable us to accelerate our ability to work globally and cross-functionally by aligning and simplifying processes throughout McCormick, in part building upon our current shared services foundation and expanding the end-to-end processes presently under that foundation. We expect this initiative, which we refer to as Global Enablement ("GE"), to enable this scalable platform for future growth while reducing costs, enabling faster decision making, increasing agility and creating capacity within our organization.

We expect the cost of the GE initiative—to be recognized as “Special charges” in our consolidated income statement over its expected multi-year course—to range from approximately $60 million to $65 million. Of that $60 million to $65 million, we estimate that approximately sixty percent will be attributable to cash payments associated with the related costs of GE implementation and transition, including outside consulting and other costs, and approximately forty percent will be attributable to severance and related benefit payments, all directly related to the initiative. During the nine months ended August 31, 2020, we incurred special charges associated with our GE initiative of $1.1 million. Prior to this, through November 30, 2019, we have spent a cumulative total of $38.3 million on this initiative.

During the three months ended August 31, 2020, we recorded $0.1 million of special charges consisting primarily of streamlining actions in our Europe, Middle East and Africa (EMEA) region.

During the nine months ended August 31, 2020, we recorded $4.0 million of special charges consisting of $2.9 million of streamlining actions in EMEA and $1.1 million related to our GE initiative, including $0.5 million of third-party expenses, $0.3 million related to severance and related benefits, and $0.3 million related to other costs.

During the three months ended August 31, 2019, we recorded $7.7 million of special charges, consisting primarily of (i) $6.0 million related to our GE initiative, including $5.5 million of third-party expenses, $0.3 million related to employee severance and related benefits, and $0.2 million related to other costs, and (ii) $1.3 million related to streamlining actions in our EMEA region.

During the nine months ended August 31, 2019, we recorded $16.9 million of special charges, consisting primarily of (i) $12.2 million related to our GE initiative, including $8.9 million of third-party expenses, $2.0 million related to employee severance and related benefits, and $1.3 million related to other costs, (ii) $2.3 million of employee severance and related benefits associated with streamlining actions in the Americas region, and (iii) $1.9 million related to streamlining actions in our EMEA region.

As of August 31, 2020, reserves associated with special charges, which are expected to be paid during the remainder of fiscal year 2020, are included in accounts payable and other accrued liabilities in our consolidated balance sheet.

The following is a breakdown by business segments of special charges for the three and nine months ended August 31, 2020 and 2019 (in millions):


	Three months ended August 31,						Nine months ended August 31,
	2020		2019		2020		2019
Consumer segment	$	—	$	4.6	$	3.1	$	11.0
Flavor solutions segment	0.1		3.1		0.9		5.9
Total special charges	$	0.1	$	7.7	$	4.0	$	16.9

Financial Instruments

9 Months Ended

Aug. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financing Arrangements and Financial Instruments

FINANCING ARRANGEMENTS AND FINANCIAL INSTRUMENTS

In April 2020, we issued $500.0 million of 2.50% notes due April 15, 2030, with cash proceeds received of $495.0 million, net of discounts and underwriters' fees. Interest is payable semiannually in arrears in April and October of each year. The net proceeds from this issuance were used to pay down borrowings and for general corporate purposes.

During the nine months ended August 31, 2020 and 2019, we repaid $250.0 million and $106.3 million, respectively, of the five-year term loan due August 17, 2022, which included $56.3 million of aggregate quarterly principal payments required in each nine-month period. During the nine months ended August 31, 2019, we also repaid $100.0 million of the three-year term loan due August 17, 2020.

We use derivative financial instruments to enhance our ability to manage risk, including foreign currency, net investment and interest rate exposures, which exist as part of our ongoing business operations. We do not enter into contracts for trading purposes, nor are we a party to any leveraged derivative instrument, and all derivatives are designated as hedges. We are not a party to master netting arrangements, and we do not offset the fair value of derivative contracts with the same counterparty in our financial statement disclosures. The use of derivative financial instruments is monitored through regular communication with senior management and the use of written guidelines.

Foreign currency exchange risk. We are potentially exposed to foreign currency fluctuations affecting net investments in subsidiaries, transactions (both third-party and intercompany) and earnings denominated in foreign currencies. Management assesses foreign currency risk based on transactional cash flows and translational volatility and may enter into forward contract and currency swaps to reduce fluctuations in the long or short currency positions. Forward contracts are generally less than 18 months duration. Currency swap agreements are established in conjunction with the terms of the underlying debt issues.

At August 31, 2020, we had foreign currency exchange contracts to purchase or sell $363.4 million of foreign currencies as compared to $489.2 million at November 30, 2019. All of these contracts were designated as hedges of anticipated purchases denominated in a foreign currency or hedges of foreign currency denominated assets or liabilities. All foreign currency exchange contracts outstanding at August 31, 2020 have durations of less than 18 months, including $107.0 million of notional contracts that have durations of less than seven days and are used to hedge short-term cash flow funding.

Contracts which are designated as hedges of anticipated purchases denominated in a foreign currency (generally purchases of raw materials in U.S. dollars by operating units outside the U.S.) are considered cash flow hedges. The gains and losses on these contracts are deferred in accumulated other comprehensive income until the hedged item is recognized in cost of goods sold, at which time the net amount deferred in accumulated other comprehensive income is also recognized in cost of goods sold. Gains and losses from contracts that are designated as hedges of assets, liabilities or firm commitments are recognized through income, offsetting the change in fair value of the hedged item.

We also enter into fair value foreign currency exchange contracts to manage both exposure to currency fluctuations in certain intercompany loans between subsidiaries as well as currency exposure to third-party non-functional currency assets or liabilities. At August 31, 2020, the notional value of these contracts was $291.0 million. Any gains or losses recorded based on both the change in fair value of these contracts and the change in the currency component of the underlying loans are recognized in our consolidated income statement as other income, net.

We also utilize cross currency interest rate swap contracts that are considered net investment hedges. As of August 31, 2020, we had cross currency interest rate swap contracts of (i) $250 million notional value to receive $250 million at three-month U.S. LIBOR plus 0.685% and pay £194.1 million at three-month GBP LIBOR plus 0.740% and (ii) £194.1 million notional value to receive £194.1 million at three-month GBP LIBOR plus 0.740% and pay €221.8 million at three-month Euro EURIBOR plus 0.808%. These cross currency interest rate swap contracts expire in August 2027. Any gains or losses on net investment hedges are included in foreign currency translation adjustments in accumulated other comprehensive loss.

Interest rate risk. We finance a portion of our operations with both fixed and variable rate debt instruments, principally commercial paper, notes and bank loans. We utilize interest rate swap agreements to minimize worldwide financing costs and to achieve a desired mix of variable and fixed rate debt.

As of August 31, 2020, we have outstanding interest rate swap contracts for a notional amount of $350 million. Those interest rate swap contracts include a $100 million notional value of interest rate swap contracts, where we receive interest at 3.25% and pay a variable rate of interest based on three-month LIBOR plus 1.22%, which expire in November 2025, and are designated as fair value hedges of the changes in fair value of $100 million of the $250 million 3.25% medium-term notes due 2025. We also have $250 million notional interest rate swap contracts where we receive interest at 3.40% and pay a variable rate of interest based on three-month LIBOR plus 0.685%, which expire in August 2027, and are designated as fair value hedges of the changes in fair value of $250 million of the $750 million 3.40% term notes due 2027. Any realized gain or loss on these swap contracts was offset by a corresponding increase or decrease of the value of the hedged debt.

All derivatives are recognized at fair value in the balance sheet and recorded in either other current assets, other long-term assets, other accrued liabilities or other long-term liabilities, depending upon their nature and maturity. Hedge ineffectiveness was not material.

The following table discloses the notional amount and fair values of derivative instruments on our balance sheet (in millions):



As of August 31, 2020	Asset Derivatives								Liability Derivatives
	Balance sheet location	Notional amount		Fair value		Balance sheet location	Notional amount		Fair value
Interest rate contracts	Other current assets / Other long-term assets	$	350.0	$	45.6	Other accrued liabilities	$	—	$	—
Foreign exchange contracts	Other current assets	156.5		18.1		Other accrued liabilities	206.9		21.3
Cross currency contracts	Other current assets / Other long-term assets	—		—		Other long-term liabilities	524.5		19.3
Total				$	63.7				$	40.6

As of August 31, 2019	Asset Derivatives								Liability Derivatives
	Balance sheet location	Notional amount		Fair value		Balance sheet location	Notional amount		Fair value
Interest rate contracts	Other current assets / Other long-term assets	$	350.0	$	28.2	Other accrued liabilities	$	—	$	—
Foreign exchange contracts	Other current assets	104.7		2.2		Other accrued liabilities	350.6		4.6
Cross currency contracts	Other current assets / Other long-term assets	236.4		14.0		Other long-term liabilities	243.9		13.4
Total				$	44.4				$	18.0

As of November 30, 2019	Asset Derivatives								Liability Derivatives
	Balance sheet location	Notional amount		Fair value		Balance sheet location	Notional amount		Fair value
Interest rate contracts	Other current assets / Other long-term assets	$	350.0	$	20.9	Other accrued liabilities	$	—	$	—
Foreign exchange contracts	Other current assets	293.1		3.3		Other accrued liabilities	196.1		3.6
Cross currency contracts	Other current assets / Other long-term assets	495.5		3.2		Other long-term liabilities	—		—
Total				$	27.4				$	3.6

The following tables disclose the impact of derivative instruments on our other comprehensive income ("OCI"), accumulated other comprehensive income ("AOCI") and our consolidated income statement for the three- and nine-month periods ended August 31, 2020 and 2019 (in millions):


Fair Value Hedges

Derivative	Income statement location	Income (expense)
		Three months ended August 31, 2020		Three months ended August 31, 2019		Nine months ended August 31, 2020		Nine months ended August 31, 2019

Interest rate contracts	Interest expense	$	1.8	$	—	$	3.2	$	(0.3)


Three months ended August 31,	Income statement location	Gain (loss) recognized in income						Income statement location		Gain (loss) recognized in income
Derivative		2020		2019		Hedged item		2020		2019
Foreign exchange contracts	Other income, net	$	(7.6)	$	(5.3)	Intercompany loans	Other income, net	$	7.3	$	5.2


Nine months ended August 31,	Income statement location	Gain (loss) recognized in income						Income statement location		Gain (loss) recognized in income
Derivative		2020		2019		Hedged item		2020		2019
Foreign exchange contracts	Other income, net	$	(4.1)	$	(2.6)	Intercompany loans	Other income, net	$	3.1	$	2.0

The gains (losses) recognized on fair value hedges relating to currency exposure on third-party non-functional currency assets or liabilities were not material during the three- and nine-months ended August 31, 2020 and 2019.


Cash Flow Hedges
Three months ended August 31,
Derivative	Gain (loss) recognized in OCI					Income statement location		Gain (loss) reclassified from AOCI
	2020		2019			2020		2019
Interest rate contracts	$	—	$	—	Interest expense	$	0.2	$	0.2
Foreign exchange contracts	(0.6)		(0.3)		Cost of goods sold	1.1		0.5
Total	$	(0.6)	$	(0.3)		$	1.3	$	0.7

Nine months ended August 31,
Derivative	Gain (loss) recognized in OCI					Income statement location		Gain (loss) reclassified from AOCI
	2020		2019			2020		2019
Interest rate contracts	$	—	$	—	Interest expense	$	0.4	$	0.4
Foreign exchange contracts	2.3		0.3		Cost of goods sold	1.2		0.9
Total	$	2.3	$	0.3		$	1.6	$	1.3

For all cash flow and settled interest rate fair value hedge derivatives, the net amount of accumulated other comprehensive income (loss) expected to be reclassified in the next 12 months is $1.3 million as an increase to earnings.


Net Investment Hedges
Three months ended August 31,
Derivative	Gain (loss) recognized in OCI					Income statement location		Gain (loss) excluded from the assessment of hedge effectiveness
	2020		2019			2020		2019
Cross currency contracts	$	(17.4)	$	3.0	Interest expense	$	0.3	$	1.7

Nine months ended August 31,
Derivative	Gain (loss) recognized in OCI					Income statement location		Gain (loss) excluded from the assessment of hedge effectiveness
	2020		2019			2020		2019
Cross currency contracts	$	(20.7)	$	0.3	Interest expense	$	2.7	$	3.8

For all net investment hedges, no amounts have been reclassified out of accumulated other comprehensive income (loss). The amounts noted in the tables above for OCI do not include any adjustments for the impact of deferred income taxes.

Leases

9 Months Ended

Aug. 31, 2020

Leases [Abstract]

Leases

LEASES

Our lease portfolio primarily consists of (i) certain real estate, including those related to a number of administrative, distribution and manufacturing locations; (ii) certain machinery and equipment, including forklifts; and (iii) automobiles, delivery trucks and other vehicles, including an airplane. When our real estate lease arrangements include lease and non-lease components (for example, common area maintenance), we account for each component separately, based on their relative standalone prices. For all other asset categories, we combine lease components and non-lease components into a single lease commitment. We determine if an agreement is a lease or contains a lease at inception. Leases with an initial term of 12 months or less (short-term leases) are not recorded on the balance sheet.

ROU assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and liabilities are based on the estimated present value of lease payments over the lease term and are recognized at the lease commencement date.

As most of our leases do not provide an implicit borrowing rate, we use our estimated incremental borrowing rate in determining the present value of lease payments. The estimated incremental borrowing rate is derived from information available at the lease commencement date.

Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. A limited number of our lease agreements include rental payments that are adjusted periodically based on a market rate or index. Our lease agreements generally do not contain residual value guarantees or material restrictive covenants.

The following table presents the components of our lease expense (in millions):


	Three months ended August 31, 2020		Nine months ended August 31, 2020
Operating lease cost	$	9.7	$	30.3
Finance lease cost:
Amortization of ROU assets	2.2		6.7
Interest on lease liabilities	1.1		3.4
Net lease cost ⁽¹⁾	$	13.0	$	40.4

(1) Net lease cost does not include short-term leases, variable lease costs or sublease income, all of which are immaterial.

Supplemental balance sheet information related to leases as of August 31, 2020 were as follows (in millions):

Leases

Classification

Assets

Operating lease ROU assets

Other long-term assets

121.3

Finance lease ROU assets

Property, plant and equipment, net

124.3

Total leased assets

245.6

Liabilities

Current

Operating

Other accrued liabilities

33.6

Finance

Current portion of long-term debt

7.3

Non-current

Operating

Other long-term liabilities

91.4

Finance

Long-term debt

127.3

Total lease liabilities

259.6

Information regarding our lease terms and discount rates as of August 31, 2020 were as follows:


	Weighted-average remaining lease term (years)	Weighted-average discount rate
Operating leases	5.7	2.1	%
Finance leases	14.3	3.3	%

The future maturity of our lease liabilities as of August 31, 2020 were as follows (in millions):


	Operating leases		Finance leases		Total
2020 (remainder of year)	$	9.6	$	2.8	$	12.4
2021	33.9		11.4		45.3
2022	25.5		11.4		36.9
2023	18.1		11.4		29.5
2024	11.3		11.5		22.8
Thereafter	34.1		125.9		160.0
Total lease payments	132.5		174.4		306.9
Less: Imputed interest	7.5		39.8		47.3
Total lease liabilities	$	125.0	$	134.6	$	259.6

Supplemental cash flow and other information related to leases for the nine months ended August 31, 2020 were as follows (in million):



Cash paid for amounts included in the measurements of lease liabilities:
Operating cash flows used for operating leases	$	30.4
Operating cash flows used for finance leases	3.4
Financing cash flows used for finance leases	5.1

ROU assets obtained in exchange for lease liabilities
Operating leases	$	8.7

Leases

LEASES

The following table presents the components of our lease expense (in millions):


	Three months ended August 31, 2020		Nine months ended August 31, 2020
Operating lease cost	$	9.7	$	30.3
Finance lease cost:
Amortization of ROU assets	2.2		6.7
Interest on lease liabilities	1.1		3.4
Net lease cost ⁽¹⁾	$	13.0	$	40.4

(1) Net lease cost does not include short-term leases, variable lease costs or sublease income, all of which are immaterial.

Supplemental balance sheet information related to leases as of August 31, 2020 were as follows (in millions):

Leases

Classification

Assets

Operating lease ROU assets

Other long-term assets

121.3

Finance lease ROU assets

Property, plant and equipment, net

124.3

Total leased assets

245.6

Liabilities

Current

Operating

Other accrued liabilities

33.6

Finance

Current portion of long-term debt

7.3

Non-current

Operating

Other long-term liabilities

91.4

Finance

Long-term debt

127.3

Total lease liabilities

259.6

Information regarding our lease terms and discount rates as of August 31, 2020 were as follows:


	Weighted-average remaining lease term (years)	Weighted-average discount rate
Operating leases	5.7	2.1	%
Finance leases	14.3	3.3	%

The future maturity of our lease liabilities as of August 31, 2020 were as follows (in millions):


	Operating leases		Finance leases		Total
2020 (remainder of year)	$	9.6	$	2.8	$	12.4
2021	33.9		11.4		45.3
2022	25.5		11.4		36.9
2023	18.1		11.4		29.5
2024	11.3		11.5		22.8
Thereafter	34.1		125.9		160.0
Total lease payments	132.5		174.4		306.9
Less: Imputed interest	7.5		39.8		47.3
Total lease liabilities	$	125.0	$	134.6	$	259.6

Supplemental cash flow and other information related to leases for the nine months ended August 31, 2020 were as follows (in million):



Cash paid for amounts included in the measurements of lease liabilities:
Operating cash flows used for operating leases	$	30.4
Operating cash flows used for finance leases	3.4
Financing cash flows used for finance leases	5.1

ROU assets obtained in exchange for lease liabilities
Operating leases	$	8.7

Fair Value Measurements

9 Months Ended

Aug. 31, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

Fair value can be measured using valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). Accounting standards utilize a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:

•Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.

•Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

•Level 3: Unobservable inputs that reflect the reporting entity’s own assumptions.

At August 31, 2020, August 31, 2019 and November 30, 2019, we had no financial assets or liabilities that were subject to a level 3 fair value measurement. Our population of financial assets and liabilities subject to fair value measurements on a recurring basis are as follows (in millions):


			August 31, 2020
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	221.0	$	221.0	$	—
Insurance contracts	120.8		—		120.8
Bonds and other long-term investments	5.6		5.6		—
Interest rate derivatives	45.6		—		45.6
Foreign currency derivatives	18.1		—		18.1

Total	$	411.1	$	226.6	$	184.5
Liabilities
Foreign currency derivatives	$	21.3	$	—	$	21.3

Cross currency contracts	19.3		—		19.3
Total	$	40.6	$	—	$	40.6


			August 31, 2019
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	162.9	$	162.9	$	—
Insurance contracts	117.2		—		117.2
Bonds and other long-term investments	4.3		4.3		—
Interest rate derivatives	28.2		—		28.2
Foreign currency derivatives	2.2		—		2.2
Cross currency contracts	14.0		—		14.0
Total	$	328.8	$	167.2	$	161.6
Liabilities
Foreign currency derivatives	$	4.6	$	—	$	4.6

Cross currency contracts	13.4		—		13.4
Total	$	18.0	$	—	$	18.0


			November 30, 2019
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	155.4	$	155.4	$	—
Insurance contracts	121.7		—		121.7
Bonds and other long-term investments	2.7		2.7		—
Interest rate derivatives	20.9		—		20.9
Foreign currency derivatives	3.3		—		3.3
Cross currency contracts	3.2		—		3.2
Total	$	307.2	$	158.1	$	149.1
Liabilities
Foreign currency derivatives	$	3.6	$	—	$	3.6


Total	$	3.6	$	—	$	3.6

Because of their short-term nature, the amounts reported in the balance sheet for cash and cash equivalents, receivables, short-term borrowings and trade accounts payable approximate fair value. The fair values of insurance contracts are based upon the underlying values of the securities in which they are invested and are from quoted market prices from various stock and bond exchanges for similar-type assets. The fair values of bonds and other long-term investments are based on quoted market prices from various stock and bond exchanges. The fair values for interest rate derivatives, foreign currency derivatives, and cross currency contracts are based on values for similar instruments using models with market-based inputs.

The following table sets forth the carrying amounts and fair values of our long-term debt including the current portion thereof (in millions):


	August 31, 2020		August 31, 2019		November 30, 2019
Carrying amount	$	4,001.2	$	3,962.4	$	3,723.5
Fair value	4,339.3		4,153.7		3,859.0

Level 1 valuation techniques	$	4,162.9	$	3,475.0	$	3,437.5
Level 2 valuation techniques	176.4		678.7		421.5
Total fair value	$	4,339.3	$	4,153.7	$	3,859.0

The fair value for Level 2 long-term debt is determined by using quoted prices for similar debt instruments.

Employee Benefit and Retirement Plans

9 Months Ended

Aug. 31, 2020

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT AND RETIREMENT PLANS

We sponsor defined benefit pension plans in the U.S. and certain foreign locations. In addition, we sponsor defined contribution plans in the U.S. We also contribute to defined contribution plans in locations outside the U.S., including government-sponsored retirement plans. We also currently provide postretirement medical and life insurance benefits to certain U.S. employees and retirees. As more fully described in the notes to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended November 30, 2019, during fiscal years 2018 and 2017, we made significant changes to our employee benefit and retirement plans that froze the accrual of future benefits under certain defined benefit pension plans in the U.S. and certain foreign locations.

The following table presents the components of our pension expense (income) of the defined benefit plans for the three months ended August 31, 2020 and 2019 (in millions):


	United States						International
	2020		2019		2020		2019
Defined benefit plans
Service cost	$	0.8	$	0.5	$	0.2	$	0.9
Interest costs	7.3		8.6		1.9		2.3
Expected return on plan assets	(10.2)		(10.6)		(3.7)		(4.0)
Amortization of prior service costs	0.2		0.1		0.1		—
Amortization of net actuarial losses	2.0		0.6		0.5		0.3
Settlement loss	—		—		0.7		—
Total pension expense (income)	$	0.1	$	(0.8)	$	(0.3)	$	(0.5)

The following table presents the components of our pension expense (income) of the defined benefit plans for the nine months ended August 31, 2020 and 2019 (in millions):


	United States						International
	2020		2019		2020		2019
Defined benefit plans
Service cost	$	2.4	$	1.5	$	0.7	$	2.7
Interest costs	22.0		25.8		5.6		7.1
Expected return on plan assets	(30.5)		(31.8)		(11.2)		(12.3)
Amortization of prior service costs	0.4		0.3		0.1		0.1
Amortization of net actuarial losses	5.9		1.8		1.5		0.9
Settlement loss	—		—		1.2		—
Total pension expense (income)	$	0.2	$	(2.4)	$	(2.1)	$	(1.5)

During the nine months ended August 31, 2020 and 2019, we contributed $9.3 million and $8.9 million, respectively, to our pension plans. Total contributions to our pension plans in fiscal year 2019 were $11.4 million.

The following table presents the components of our other postretirement benefits expense (income) (in millions):


	Three months ended August 31,						Nine months ended August 31,
	2020		2019		2020		2019
Other postretirement benefits
Service cost	$	0.5	$	0.5	$	1.4	$	1.5
Interest costs	0.5		0.7		1.5		2.0
Amortization of prior service credits	(1.2)		(2.2)		(3.5)		(6.5)
Amortization of net actuarial gains	—		(0.1)		(0.1)		(0.5)

Total other postretirement benefits (income)	$	(0.2)	$	(1.1)	$	(0.7)	$	(3.5)

All of the amounts in the tables above for pension expense and other postretirement benefits expense, other than service cost, were included in the income statement caption "Other income, net" within our consolidated income statements. The aggregate amount of pension and other postretirement benefits (income) expenses, excluding service cost components, were $(1.9) million

and $(4.3) million for the three months ended August 31, 2020 and 2019, respectively and $(7.1) million and $(13.1) million for the nine months ended August 31, 2020 and 2019, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stock-based Compensation

9 Months Ended

Aug. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

STOCK-BASED COMPENSATION

We have three types of stock-based compensation awards: restricted stock units ("RSUs"), stock options and company stock awarded as part of our long-term performance plan ("LTPP"). The following table sets forth the stock-based compensation expense recorded in selling, general and administrative ("SG&A") expense (in millions):


	Three months ended August 31,						Nine months ended August 31,
	2020		2019		2020		2019
Stock-based compensation expense	$	10.7	$	7.8	$	37.8	$	30.6

Our 2020 annual grant of stock options and RSUs occurred in the second quarter, similar to the 2019 annual grant. The weighted-average grant-date fair value of each stock option granted in 2020 was $26.53 and in 2019 was $27.51 as calculated under a lattice pricing model. Substantially all of the stock options and RSUs granted in 2020 vest ratably over a three-year period or, if earlier, upon the retirement eligibility date of the holder. The fair values of stock option grants in the stated periods were computed using the following range of assumptions for our various stock compensation plans:


	2020	2019
Risk-free interest rates	0.0 - 0.6%	2.2 - 2.5%
Dividend yield	1.8%	1.5%
Expected volatility	22.8%	17.4%
Expected lives (in years)	7.9	7.5

The following is a summary of our stock option activity for the nine months ended August 31, 2020 and 2019:


	2020				2019
(shares in millions)	Number of Shares	Weighted- Average Exercise Price		Number of Shares	Weighted- Average Exercise Price
Outstanding at beginning of period	2.6	$	96.18	3.6	$	82.60
Granted	0.4	138.62		0.3	147.39
Exercised	(0.7)	81.88		(1.2)	70.78
Outstanding at end of the period	2.3	$	106.88	2.7	$	95.50
Exercisable at end of the period	1.6	$	95.33	2.0	$	86.08

As of August 31, 2020, the intrinsic value (the difference between the exercise price and the market price) for all options outstanding was $225.5 million and for options currently exercisable was $180.2 million. The total intrinsic value of all options exercised during the nine months ended August 31, 2020 and 2019 was $65.3 million and $102.8 million, respectively.

The following is a summary of our RSU activity for the nine months ended August 31, 2020 and 2019:


	2020				2019
(shares in thousands)	Number of Shares	Weighted- Average Grant-Date Fair Value		Number of Shares	Weighted- Average Grant-Date Fair Value
Outstanding at beginning of period	381	$	115.89	423	$	103.05
Granted	148	134.06		129	143.15
Vested	(137)	109.97		(134)	96.74
Forfeited	(7)	124.30		(9)	112.10
Outstanding at end of period	385	$	124.82	409	$	117.51

The following is a summary of our LTPP activity for the nine months ended August 31, 2020 and 2019:


	2020				2019
(shares in thousands)	Number of Shares	Weighted- Average Grant-Date Fair Value		Number of Shares	Weighted- Average Grant-Date Fair Value
Outstanding at beginning of period	196	$	115.96	218	$	83.55
Granted	65	172.28		102	150.51
Vested	(44)	89.96		(57)	86.40
Forfeited	(3)	127.46		—	—
Outstanding at end of period	214	$	138.26	263	$	117.14

Income Taxes	9 Months Ended
Income Taxes	Aug. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income taxes for the three months ended August 31, 2020 included $13.2 million of discrete tax benefits consisting principally of the following: (i) $7.3 million of excess tax benefits associated with share-based compensation, (ii) $2.1 million of tax benefits related to the reversal of unrecognized tax benefits and related interest associated with the expiration of statutes of limitations, (iii) $2.0 million for an adjustment to a prior year tax accrual based on the final return filed, and (iv) $1.1 million related to the revaluation of deferred taxes resulting from enacted legislation. Income taxes for the nine months ended August 31, 2020 included $40.1 million of discrete tax benefits consisting principally of the following: (i) $13.0 million of excess tax benefits associated with share-based compensation, (ii) $9.9 million of tax benefits associated with an intra-entity asset transfer that occurred during the first quarter, (iii) $9.3 million of tax benefits associated with the release of a valuation allowance due to a change in judgment about realizability of deferred tax assets, (iv) $5.5 million of tax benefits related to the reversal of unrecognized tax benefits and related interest associated with the expiration of statutes of limitations in various jurisdictions, and (v) $2.0 million for an adjustment to a prior year tax accrual based on the final return filed. Income taxes for the three months ended August 31, 2019 included $15.5 million of discrete tax benefits consisting principally of the following: (i) $8.3 million of excess tax benefits associated with share-based compensation, (ii) $2.4 million related to the reversal of unrecognized tax benefits and related interest associated with the expiration of statutes of limitations, (iii) $2.5 million related to the revaluation of deferred tax liabilities resulting from enacted legislation and (iv) $2.3 million for an adjustment to a prior year tax accrual based on the final return filed, including $1.5 million associated with the U.S. Tax Act, described below. Income taxes for the nine months ended August 31, 2019 included $44.4 million of discrete tax benefits consisting principally of the following: (i) $21.2 million of excess tax benefits associated with share-based compensation, (ii) $16.2 million of tax benefits associated with an intra-entity asset transfer that occurred during the first quarter, (iii) $2.6 million related to the reversal of unrecognized tax benefits and related interest associated with the expiration of statutes of limitation in several jurisdictions, (iv) $2.1 million related to the revaluation of deferred tax liabilities resulting from enacted legislation and (v) $2.3 million for an adjustment to a prior year tax accrual based on the final return filed, including $1.5 million associated with the U.S. Tax Act, described below. In December 2017, President Trump signed into law H.R. 1, “An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018” (this legislation was formerly called the “Tax Cuts and Jobs Act” and is referred to herein as the “U.S. Tax Act”). The U.S. Tax Act provided for significant changes in the U.S. Internal Revenue Code of 1986, as amended. During the three and nine months ended August 31, 2019, we recorded a net income tax benefit of $1.5 million associated with a provision-to-return adjustment related to the U.S Tax Act. Other than additions for current year tax positions and the reversal of unrecognized tax benefits and related interest noted above, there were no significant changes to unrecognized tax benefits during the nine months ended August 31, 2020. As of August 31, 2020, we believe the reasonably possible total amount of unrecognized tax benefits that could increase or decrease in the next 12 months as a result of various statute expirations, audit closures, and/or tax settlements would not be material to our consolidated financial statements.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Earnings Per Share and Stock Issuances

9 Months Ended

Aug. 31, 2020

Earnings Per Share, Basic and Diluted [Abstract]

EARNINGS PER SHARE AND STOCK ISSUANCES

EARNINGS PER SHARE AND STOCK ISSUANCE

The following table sets forth the reconciliation of average shares outstanding (in millions):


	Three months ended			Nine months ended
	August 31, 2020	August 31, 2019	August 31, 2020	August 31, 2019
Average shares outstanding – basic	133.3	132.8	133.1	132.5
Effect of dilutive securities:
Stock options/RSUs/LTPP	1.5	1.4	1.4	1.5
Average shares outstanding – diluted	134.8	134.2	134.5	134.0

The following table sets forth the stock options and RSUs that were not considered in our earnings per share calculation since they were anti-dilutive (in millions):

Three months ended

Nine months ended

August 31, 2020

August 31, 2019

August 31, 2020

August 31, 2019

Anti-dilutive securities

—

0.2

0.1

The following table sets forth the common stock activity (in millions):


	Three months ended			Nine months ended
	August 31, 2020	August 31, 2019	August 31, 2020	August 31, 2019
Shares issued under stock options, RSUs, LTPP and employee stock purchase plans	0.3	0.5	0.8	1.4
Shares repurchased under the stock repurchase program and shares withheld for taxes under stock options, RSUs, LTPP and employee stock purchase programs	0.1	0.1	0.3	0.6

As of August 31, 2020, $586.0 million remained of the $600 million share repurchase program authorization approved by our Board of Directors in November 2019.

Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Aug. 31, 2020

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

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

ACCUMULATED OTHER COMPREHENSIVE LOSS

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


	August 31, 2020		August 31, 2019		November 30, 2019
Foreign currency translation adjustment ⁽¹⁾	$	(198.5)	$	(308.2)	$	(266.5)
Unrealized gain (loss) on foreign currency exchange contracts	0.3		(0.8)		—

Unamortized value of settled interest rate swaps	—		0.4		0.3
Pension and other postretirement costs	(231.7)		(119.7)		(234.0)
Accumulated other comprehensive loss	$	(429.9)	$	(428.3)	$	(500.2)

(1)The foreign currency translation adjustment of accumulated other comprehensive loss decreased on a net basis by $68.0 million during the nine months ended August 31, 2020, including the impact of a $20.7 million increase associated with net investment hedges as more fully described in note 3.

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
Accumulated Other Comprehensive Income (Loss) Components	August 31, 2020		August 31, 2019		August 31, 2020		August 31, 2019
(Gains)/losses on cash flow hedges:
Interest rate derivatives	$	(0.2)	$	(0.2)	$	(0.4)	$	(0.4)	Interest expense
Foreign exchange contracts	(1.1)		(0.5)		(1.2)		(0.9)		Cost of goods sold
Total before tax	(1.3)		(0.7)		(1.6)		(1.3)
Tax effect	0.3		0.1		0.4		0.3		Income taxes
Net, after tax	$	(1.0)	$	(0.6)	$	(1.2)	$	(1.0)

Amortization of pension and postretirement benefit adjustments:
Amortization of prior service costs (credit) ⁽¹⁾	$	(0.9)	$	(2.1)	$	(3.0)	$	(6.1)	Other income, net
Amortization of net actuarial losses ⁽¹⁾	3.2		0.8		8.5		2.2		Other income, net
Total before tax	2.3		(1.3)		5.5		(3.9)
Tax effect	(0.6)		0.3		(1.3)		0.9		Income taxes
Net, after tax	$	1.7	$	(1.0)	$	4.2	$	(3.0)

(1) This accumulated other comprehensive income (loss) component, including settlement losses, is included in the computation of total pension expense and other postretirement benefits expense (refer to note 6 for additional details).

Business Segments

9 Months Ended

Aug. 31, 2020

Segment Reporting [Abstract]

BUSINESS SEGMENTS

We operate in two business segments: consumer and flavor solutions. The consumer and flavor solutions segments manufacture, market and distribute spices, herbs, seasoning mixes, condiments and other flavorful products throughout the world. Our consumer segment sells to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce under the “McCormick” brand and a variety of brands around the world, including “French’s”, “Frank’s RedHot”, “OLD BAY”, “Lawry’s”, “Zatarain’s”, “Simply Asia”, “Thai Kitchen”, “Ducros”, “Vahine”, “Schwartz”, “Club House”, “Kamis”, “Kohinoor”, “DaQiao”, “La Drogheria”, “Stubb's”, and “Gourmet Garden”. Our flavor solutions segment sells to food manufacturers and the foodservice industry both directly and indirectly through distributors, with the exception of our businesses in China and India, where foodservice sales are managed by and reported in our consumer segment.

In each of our segments, we produce and sell many individual products which are similar in composition and nature. With their primary attribute being flavor, we regard the products within each of our segments to be fairly homogenous. It is impracticable to segregate and identify sales and profits for each of these individual product lines.

We measure segment performance based on operating income excluding special charges, as this activity is managed separately from the business segments.

Although the segments are managed separately due to their distinct distribution channels and marketing strategies, manufacturing and warehousing are often integrated to maximize cost efficiencies. We do not segregate jointly utilized assets by individual segment for internal reporting, evaluating performance or allocating capital. Because of manufacturing integration for certain products within the segments, products are not sold from one segment to another but rather inventory is transferred at cost. Intersegment sales are not material.


	Consumer		Flavor Solutions		Total
			(in millions)
Three months ended August 31, 2020
Net sales	$	910.9	$	519.4	$	1,430.3
Operating income excluding special charges	209.0		64.1		273.1
Income from unconsolidated operations	8.5		1.1		9.6

Three months ended August 31, 2019
Net sales	$	794.2	$	535.0	$	1,329.2
Operating income excluding special charges	176.5		84.7		261.2
Income from unconsolidated operations	7.3		2.3		9.6

Nine months ended August 31, 2020
Net sales	$	2,573.0	$	1,470.4	$	4,043.4
Operating income excluding special charges	560.2		168.4		728.6
Income from unconsolidated operations	24.7		5.5		30.2

Nine months ended August 31, 2019
Net sales	$	2,303.2	$	1,559.4	$	3,862.6
Operating income excluding special charges	449.6		225.8		675.4
Income from unconsolidated operations	22.7		6.5		29.2

A reconciliation of operating income excluding special charges to operating income is as follows (in millions):


	Consumer		Flavor Solutions		Total
Three months ended August 31, 2020
Operating income excluding special charges	$	209.0	$	64.1	$	273.1
Less: Special charges	—		0.1		0.1

Operating income	$	209.0	$	64.0	$	273.0

Three months ended August 31, 2019
Operating income excluding special charges	$	176.5	$	84.7	$	261.2

Less: Special charges	4.6		3.1		7.7
Operating income	$	171.9	$	81.6	$	253.5

Nine months ended August 31, 2020
Operating income excluding special charges	$	560.2	$	168.4	$	728.6
Less: Special charges	3.1		0.9		4.0
Operating income	$	557.1	$	167.5	$	724.6

Nine months ended August 31, 2019
Operating income excluding special charges	$	449.6	$	225.8	$	675.4
Less: Special charges	11.0		5.9		16.9
Operating income	$	438.6	$	219.9	$	658.5

The following table sets forth our net sales, by geographic area, for the three and nine months ended August 31, 2020 and 2019 (in millions):


	Americas		EMEA		Asia/Pacific		Total

Three months ended August 31, 2020	$	1,010.5	$	262.7	$	157.1	$	1,430.3
Three months ended August 31, 2019	931.3		234.5		163.4		1,329.2

Nine months ended August 31, 2020	2,855.5		756.7		431.2		4,043.4
Nine months ended August 31, 2019	2,634.4		726.7		501.5		3,862.6

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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+ Details

Subsequent Event	9 Months Ended
Subsequent Event	Aug. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTOn September 28, 2020, our Board of Directors approved a 2-for-1 stock split of the Company’s voting and non-voting shares of common stock. On November 30, 2020, one like share will be issued for each share outstanding to shareholders of record as of November 20, 2020. Trading of the Company’s common stock will begin on a split-adjusted basis on December 1, 2020. Common stock and per-share data in this Quarterly Report on Form 10-Q have not been adjusted for the impact of the split.

Accounting Policies (Policies)	9 Months Ended
Accounting Policies (Policies)	Aug. 31, 2020
Accounting Policies [Abstract]
Accounting and disclosure charges	Accounting Pronouncements Adopted in 2020 As more fully described in note 1 of notes to consolidated financial statements included in our Form 10-K for the year ended November 30, 2019, we were required to adopt the new accounting standard for leases, Accounting Standards Codification Topic 842 Leases (ASC 842), as of December 1, 2019 and we elected to do so using a modified retrospective transition method. That modified retrospective transition method allowed us to initially apply the new standard at the adoption date and recognize a cumulative-effect adjustment to retained earnings in the opening balance sheet in the period of adoption without restating prior periods. ASC 842 revised prior practice related to accounting for leases under Accounting Standards Codification Topic 840 Leases (ASC 840) for both lessees and lessors and requires lessees to recognize most leases on their balance sheets as lease liabilities with corresponding right-of-use ("ROU") assets. Under ASC 842, the lease liability is equal to the present value of lease payments, and the ROU asset is based on the lease liability, subject to adjustments, such as for deferred rent and initial direct costs. For income statement purposes, ASC 842 retains a dual model similar to ASC 840, requiring leases to be classified as either operating or finance. For lessees, operating leases will result in straight-line expense (similar to prior accounting by lessees for operating leases under ASC 840) while finance leases will result in a front-loaded expense pattern (similar to prior accounting by lessees for capital leases under ASC 840). We elected the package of practical expedients permitted under the transition guidance, which, among other things, allows us to carry forward the historical lease classification. In addition, we made accounting policy elections to combine the lease and non-lease components for all asset categories other than real estate. We also made elections to exclude from balance sheet reporting those leases with initial terms of 12 months or less ("short-term leases"). Adoption of the new standard resulted in the recording of operating lease ROU assets and lease liabilities of $136.5 million and $140.0 million, respectively, with the difference due to prepaid and deferred rents that were reclassified to the ROU asset value. No cumulative-effect adjustment to opening retained earnings was required as of December 1, 2019. The standard did not materially affect our consolidated net income or cash flows for the three- and nine-month periods ended August 31, 2020. See note 4 for further details. Recently Issued Accounting Pronouncements — Pending Adoption In January 2017, the Financial Accounting Standards Board ("FASB") issued ASU No. 2017-04 Intangibles—Goodwill and Other Topics (Topic 350)—Simplifying the Test for Goodwill Impairment. This guidance eliminates the requirement to calculate the implied fair value of goodwill of a reporting unit to measure a goodwill impairment charge. Instead, a company will record an impairment charge based on the excess of a reporting unit's carrying amount over its fair value. The new standard will be effective for the first quarter of our fiscal year ending November 30, 2021. Early adoption is permitted for all entities for annual and interim goodwill impairment testing dates after January 1, 2017. We currently do not expect this guidance to have a material impact on our consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which institutes a new model for recognizing credit losses on financial instruments that are not measured at fair value. The ASU is effective for the first quarter of our fiscal year ending November 30, 2021, and we anticipate that it will primarily impact our credit losses recognized for trade accounts receivable. We currently do not expect this guidance to have a material impact on our consolidated financial statements.

Special Charges (Tables)

9 Months Ended

Aug. 31, 2020

Segment Reporting Information [Line Items]

Special Charges Summary [Table Text Block]

The following is a summary of special charges recognized in the three and nine months ended August 31, 2020 and 2019 (in millions):


	Three months ended August 31,						Nine months ended August 31,
	2020		2019		2020		2019
Employee severance and related benefits	$	—	$	1.1	$	2.2	$	5.1
Other costs	0.1		6.6		1.8		11.8
Total	$	0.1	$	7.7	$	4.0	$	16.9

Special Charges Summary by Segment [Table Text Block]

The following is a breakdown by business segments of special charges for the three and nine months ended August 31, 2020 and 2019 (in millions):


	Three months ended August 31,						Nine months ended August 31,
	2020		2019		2020		2019
Consumer segment	$	—	$	4.6	$	3.1	$	11.0
Flavor solutions segment	0.1		3.1		0.9		5.9
Total special charges	$	0.1	$	7.7	$	4.0	$	16.9

Financial Arrangements and Financial Instruments (Tables)

9 Months Ended

Aug. 31, 2020

Fair values of derivative instruments on balance sheet

The following table discloses the notional amount and fair values of derivative instruments on our balance sheet (in millions):



As of August 31, 2020	Asset Derivatives								Liability Derivatives
	Balance sheet location	Notional amount		Fair value		Balance sheet location	Notional amount		Fair value
Interest rate contracts	Other current assets / Other long-term assets	$	350.0	$	45.6	Other accrued liabilities	$	—	$	—
Foreign exchange contracts	Other current assets	156.5		18.1		Other accrued liabilities	206.9		21.3
Cross currency contracts	Other current assets / Other long-term assets	—		—		Other long-term liabilities	524.5		19.3
Total				$	63.7				$	40.6

As of August 31, 2019	Asset Derivatives								Liability Derivatives
	Balance sheet location	Notional amount		Fair value		Balance sheet location	Notional amount		Fair value
Interest rate contracts	Other current assets / Other long-term assets	$	350.0	$	28.2	Other accrued liabilities	$	—	$	—
Foreign exchange contracts	Other current assets	104.7		2.2		Other accrued liabilities	350.6		4.6
Cross currency contracts	Other current assets / Other long-term assets	236.4		14.0		Other long-term liabilities	243.9		13.4
Total				$	44.4				$	18.0

As of November 30, 2019	Asset Derivatives								Liability Derivatives
	Balance sheet location	Notional amount		Fair value		Balance sheet location	Notional amount		Fair value
Interest rate contracts	Other current assets / Other long-term assets	$	350.0	$	20.9	Other accrued liabilities	$	—	$	—
Foreign exchange contracts	Other current assets	293.1		3.3		Other accrued liabilities	196.1		3.6
Cross currency contracts	Other current assets / Other long-term assets	495.5		3.2		Other long-term liabilities	—		—
Total				$	27.4				$	3.6

Impact of fair value and cash flow hedges on other comprehensive income, accumulated other comprehensive income and income statement


Fair Value Hedges

Derivative	Income statement location	Income (expense)
		Three months ended August 31, 2020		Three months ended August 31, 2019		Nine months ended August 31, 2020		Nine months ended August 31, 2019

Interest rate contracts	Interest expense	$	1.8	$	—	$	3.2	$	(0.3)


Three months ended August 31,	Income statement location	Gain (loss) recognized in income						Income statement location		Gain (loss) recognized in income
Derivative		2020		2019		Hedged item		2020		2019
Foreign exchange contracts	Other income, net	$	(7.6)	$	(5.3)	Intercompany loans	Other income, net	$	7.3	$	5.2


Nine months ended August 31,	Income statement location	Gain (loss) recognized in income						Income statement location		Gain (loss) recognized in income
Derivative		2020		2019		Hedged item		2020		2019
Foreign exchange contracts	Other income, net	$	(4.1)	$	(2.6)	Intercompany loans	Other income, net	$	3.1	$	2.0


Cash Flow Hedges
Three months ended August 31,
Derivative	Gain (loss) recognized in OCI					Income statement location		Gain (loss) reclassified from AOCI
	2020		2019			2020		2019
Interest rate contracts	$	—	$	—	Interest expense	$	0.2	$	0.2
Foreign exchange contracts	(0.6)		(0.3)		Cost of goods sold	1.1		0.5
Total	$	(0.6)	$	(0.3)		$	1.3	$	0.7

Nine months ended August 31,
Derivative	Gain (loss) recognized in OCI					Income statement location		Gain (loss) reclassified from AOCI
	2020		2019			2020		2019
Interest rate contracts	$	—	$	—	Interest expense	$	0.4	$	0.4
Foreign exchange contracts	2.3		0.3		Cost of goods sold	1.2		0.9
Total	$	2.3	$	0.3		$	1.6	$	1.3


Net Investment Hedges
Three months ended August 31,
Derivative	Gain (loss) recognized in OCI					Income statement location		Gain (loss) excluded from the assessment of hedge effectiveness
	2020		2019			2020		2019
Cross currency contracts	$	(17.4)	$	3.0	Interest expense	$	0.3	$	1.7

Nine months ended August 31,
Derivative	Gain (loss) recognized in OCI					Income statement location		Gain (loss) excluded from the assessment of hedge effectiveness
	2020		2019			2020		2019
Cross currency contracts	$	(20.7)	$	0.3	Interest expense	$	2.7	$	3.8

Leases (Tables)

9 Months Ended

Aug. 31, 2020

Leases [Abstract]

Lease Cost

The following table presents the components of our lease expense (in millions):


	Three months ended August 31, 2020		Nine months ended August 31, 2020
Operating lease cost	$	9.7	$	30.3
Finance lease cost:
Amortization of ROU assets	2.2		6.7
Interest on lease liabilities	1.1		3.4
Net lease cost ⁽¹⁾	$	13.0	$	40.4

(1) Net lease cost does not include short-term leases, variable lease costs or sublease income, all of which are immaterial.

Supplemental cash flow and other information related to leases for the nine months ended August 31, 2020 were as follows (in million):



Cash paid for amounts included in the measurements of lease liabilities:
Operating cash flows used for operating leases	$	30.4
Operating cash flows used for finance leases	3.4
Financing cash flows used for finance leases	5.1

ROU assets obtained in exchange for lease liabilities
Operating leases	$	8.7

Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases as of August 31, 2020 were as follows (in millions):

Leases

Classification

Assets

Operating lease ROU assets

Other long-term assets

121.3

Finance lease ROU assets

Property, plant and equipment, net

124.3

Total leased assets

245.6

Liabilities

Current

Operating

Other accrued liabilities

33.6

Finance

Current portion of long-term debt

7.3

Non-current

Operating

Other long-term liabilities

91.4

Finance

Long-term debt

127.3

Total lease liabilities

259.6

Information regarding our lease terms and discount rates as of August 31, 2020 were as follows:


	Weighted-average remaining lease term (years)	Weighted-average discount rate
Operating leases	5.7	2.1	%
Finance leases	14.3	3.3	%

Lease Maturity

The future maturity of our lease liabilities as of August 31, 2020 were as follows (in millions):


	Operating leases		Finance leases		Total
2020 (remainder of year)	$	9.6	$	2.8	$	12.4
2021	33.9		11.4		45.3
2022	25.5		11.4		36.9
2023	18.1		11.4		29.5
2024	11.3		11.5		22.8
Thereafter	34.1		125.9		160.0
Total lease payments	132.5		174.4		306.9
Less: Imputed interest	7.5		39.8		47.3
Total lease liabilities	$	125.0	$	134.6	$	259.6

Lease Maturity

The future maturity of our lease liabilities as of August 31, 2020 were as follows (in millions):


	Operating leases		Finance leases		Total
2020 (remainder of year)	$	9.6	$	2.8	$	12.4
2021	33.9		11.4		45.3
2022	25.5		11.4		36.9
2023	18.1		11.4		29.5
2024	11.3		11.5		22.8
Thereafter	34.1		125.9		160.0
Total lease payments	132.5		174.4		306.9
Less: Imputed interest	7.5		39.8		47.3
Total lease liabilities	$	125.0	$	134.6	$	259.6

Fair Value Measurements (Tables)

9 Months Ended

Aug. 31, 2020

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on recurring basis

Our population of financial assets and liabilities subject to fair value measurements on a recurring basis are as follows (in millions):


			August 31, 2020
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	221.0	$	221.0	$	—
Insurance contracts	120.8		—		120.8
Bonds and other long-term investments	5.6		5.6		—
Interest rate derivatives	45.6		—		45.6
Foreign currency derivatives	18.1		—		18.1

Total	$	411.1	$	226.6	$	184.5
Liabilities
Foreign currency derivatives	$	21.3	$	—	$	21.3

Cross currency contracts	19.3		—		19.3
Total	$	40.6	$	—	$	40.6


			August 31, 2019
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	162.9	$	162.9	$	—
Insurance contracts	117.2		—		117.2
Bonds and other long-term investments	4.3		4.3		—
Interest rate derivatives	28.2		—		28.2
Foreign currency derivatives	2.2		—		2.2
Cross currency contracts	14.0		—		14.0
Total	$	328.8	$	167.2	$	161.6
Liabilities
Foreign currency derivatives	$	4.6	$	—	$	4.6

Cross currency contracts	13.4		—		13.4
Total	$	18.0	$	—	$	18.0


			November 30, 2019
	Fair Value		Level 1		Level 2
Assets
Cash and cash equivalents	$	155.4	$	155.4	$	—
Insurance contracts	121.7		—		121.7
Bonds and other long-term investments	2.7		2.7		—
Interest rate derivatives	20.9		—		20.9
Foreign currency derivatives	3.3		—		3.3
Cross currency contracts	3.2		—		3.2
Total	$	307.2	$	158.1	$	149.1
Liabilities
Foreign currency derivatives	$	3.6	$	—	$	3.6


Total	$	3.6	$	—	$	3.6

Fair Value, by Balance Sheet Grouping

The following table sets forth the carrying amounts and fair values of our long-term debt including the current portion thereof (in millions):


	August 31, 2020		August 31, 2019		November 30, 2019
Carrying amount	$	4,001.2	$	3,962.4	$	3,723.5
Fair value	4,339.3		4,153.7		3,859.0

Level 1 valuation techniques	$	4,162.9	$	3,475.0	$	3,437.5
Level 2 valuation techniques	176.4		678.7		421.5
Total fair value	$	4,339.3	$	4,153.7	$	3,859.0

Employee Benefit and Retirement Plans (Tables)

9 Months Ended

Aug. 31, 2020

Retirement Benefits [Abstract]

Schedule of defined benefit plans disclosures

The following table presents the components of our pension expense (income) of the defined benefit plans for the three months ended August 31, 2020 and 2019 (in millions):


	United States						International
	2020		2019		2020		2019
Defined benefit plans
Service cost	$	0.8	$	0.5	$	0.2	$	0.9
Interest costs	7.3		8.6		1.9		2.3
Expected return on plan assets	(10.2)		(10.6)		(3.7)		(4.0)
Amortization of prior service costs	0.2		0.1		0.1		—
Amortization of net actuarial losses	2.0		0.6		0.5		0.3
Settlement loss	—		—		0.7		—
Total pension expense (income)	$	0.1	$	(0.8)	$	(0.3)	$	(0.5)

The following table presents the components of our pension expense (income) of the defined benefit plans for the nine months ended August 31, 2020 and 2019 (in millions):


	United States						International
	2020		2019		2020		2019
Defined benefit plans
Service cost	$	2.4	$	1.5	$	0.7	$	2.7
Interest costs	22.0		25.8		5.6		7.1
Expected return on plan assets	(30.5)		(31.8)		(11.2)		(12.3)
Amortization of prior service costs	0.4		0.3		0.1		0.1
Amortization of net actuarial losses	5.9		1.8		1.5		0.9
Settlement loss	—		—		1.2		—
Total pension expense (income)	$	0.2	$	(2.4)	$	(2.1)	$	(1.5)

Schedule of costs of retirement plans

The following table presents the components of our other postretirement benefits expense (income) (in millions):


	Three months ended August 31,						Nine months ended August 31,
	2020		2019		2020		2019
Other postretirement benefits
Service cost	$	0.5	$	0.5	$	1.4	$	1.5
Interest costs	0.5		0.7		1.5		2.0
Amortization of prior service credits	(1.2)		(2.2)		(3.5)		(6.5)
Amortization of net actuarial gains	—		(0.1)		(0.1)		(0.5)

Total other postretirement benefits (income)	$	(0.2)	$	(1.1)	$	(0.7)	$	(3.5)

Stock-Based Compensation (Tables)

9 Months Ended

Aug. 31, 2020

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock Based Compensation in Selling, General and Administrative Expense

The following table sets forth the stock-based compensation expense recorded in selling, general and administrative ("SG&A") expense (in millions):


	Three months ended August 31,						Nine months ended August 31,
	2020		2019		2020		2019
Stock-based compensation expense	$	10.7	$	7.8	$	37.8	$	30.6

Summary of Option Activity

The following is a summary of our stock option activity for the nine months ended August 31, 2020 and 2019:


	2020				2019
(shares in millions)	Number of Shares	Weighted- Average Exercise Price		Number of Shares	Weighted- Average Exercise Price
Outstanding at beginning of period	2.6	$	96.18	3.6	$	82.60
Granted	0.4	138.62		0.3	147.39
Exercised	(0.7)	81.88		(1.2)	70.78
Outstanding at end of the period	2.3	$	106.88	2.7	$	95.50
Exercisable at end of the period	1.6	$	95.33	2.0	$	86.08

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]


	2020	2019
Risk-free interest rates	0.0 - 0.6%	2.2 - 2.5%
Dividend yield	1.8%	1.5%
Expected volatility	22.8%	17.4%
Expected lives (in years)	7.9	7.5

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

The following is a summary of our RSU activity for the nine months ended August 31, 2020 and 2019:


	2020				2019
(shares in thousands)	Number of Shares	Weighted- Average Grant-Date Fair Value		Number of Shares	Weighted- Average Grant-Date Fair Value
Outstanding at beginning of period	381	$	115.89	423	$	103.05
Granted	148	134.06		129	143.15
Vested	(137)	109.97		(134)	96.74
Forfeited	(7)	124.30		(9)	112.10
Outstanding at end of period	385	$	124.82	409	$	117.51

Schedule of Share Based Compensation, Performance Shares, Activity

The following is a summary of our LTPP activity for the nine months ended August 31, 2020 and 2019:


	2020				2019
(shares in thousands)	Number of Shares	Weighted- Average Grant-Date Fair Value		Number of Shares	Weighted- Average Grant-Date Fair Value
Outstanding at beginning of period	196	$	115.96	218	$	83.55
Granted	65	172.28		102	150.51
Vested	(44)	89.96		(57)	86.40
Forfeited	(3)	127.46		—	—
Outstanding at end of period	214	$	138.26	263	$	117.14

Earnings Per Share and Stock Issuances (Tables)

9 Months Ended

Aug. 31, 2020

Earnings Per Share, Basic and Diluted [Abstract]

Reconciliation of average shares outstanding

The following table sets forth the reconciliation of average shares outstanding (in millions):


	Three months ended			Nine months ended
	August 31, 2020	August 31, 2019	August 31, 2020	August 31, 2019
Average shares outstanding – basic	133.3	132.8	133.1	132.5
Effect of dilutive securities:
Stock options/RSUs/LTPP	1.5	1.4	1.4	1.5
Average shares outstanding – diluted	134.8	134.2	134.5	134.0

Anti-dilutive securities not considered in earnings per share calculation

The following table sets forth the stock options and RSUs that were not considered in our earnings per share calculation since they were anti-dilutive (in millions):

Three months ended

Nine months ended

August 31, 2020

August 31, 2019

August 31, 2020

August 31, 2019

Anti-dilutive securities

—

0.2

0.1

Common stock activity

The following table sets forth the common stock activity (in millions):


	Three months ended			Nine months ended
	August 31, 2020	August 31, 2019	August 31, 2020	August 31, 2019
Shares issued under stock options, RSUs, LTPP and employee stock purchase plans	0.3	0.5	0.8	1.4
Shares repurchased under the stock repurchase program and shares withheld for taxes under stock options, RSUs, LTPP and employee stock purchase programs	0.1	0.1	0.3	0.6

Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Aug. 31, 2020

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 income (loss), net of tax, where applicable (in millions):


	August 31, 2020		August 31, 2019		November 30, 2019
Foreign currency translation adjustment ⁽¹⁾	$	(198.5)	$	(308.2)	$	(266.5)
Unrealized gain (loss) on foreign currency exchange contracts	0.3		(0.8)		—

Unamortized value of settled interest rate swaps	—		0.4		0.3
Pension and other postretirement costs	(231.7)		(119.7)		(234.0)
Accumulated other comprehensive loss	$	(429.9)	$	(428.3)	$	(500.2)

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
Accumulated Other Comprehensive Income (Loss) Components	August 31, 2020		August 31, 2019		August 31, 2020		August 31, 2019
(Gains)/losses on cash flow hedges:
Interest rate derivatives	$	(0.2)	$	(0.2)	$	(0.4)	$	(0.4)	Interest expense
Foreign exchange contracts	(1.1)		(0.5)		(1.2)		(0.9)		Cost of goods sold
Total before tax	(1.3)		(0.7)		(1.6)		(1.3)
Tax effect	0.3		0.1		0.4		0.3		Income taxes
Net, after tax	$	(1.0)	$	(0.6)	$	(1.2)	$	(1.0)

Amortization of pension and postretirement benefit adjustments:
Amortization of prior service costs (credit) ⁽¹⁾	$	(0.9)	$	(2.1)	$	(3.0)	$	(6.1)	Other income, net
Amortization of net actuarial losses ⁽¹⁾	3.2		0.8		8.5		2.2		Other income, net
Total before tax	2.3		(1.3)		5.5		(3.9)
Tax effect	(0.6)		0.3		(1.3)		0.9		Income taxes
Net, after tax	$	1.7	$	(1.0)	$	4.2	$	(3.0)

Business Segments (Tables)

9 Months Ended

Aug. 31, 2020

Segment Reporting [Abstract]

Business segments


	Consumer		Flavor Solutions		Total
			(in millions)
Three months ended August 31, 2020
Net sales	$	910.9	$	519.4	$	1,430.3
Operating income excluding special charges	209.0		64.1		273.1
Income from unconsolidated operations	8.5		1.1		9.6

Three months ended August 31, 2019
Net sales	$	794.2	$	535.0	$	1,329.2
Operating income excluding special charges	176.5		84.7		261.2
Income from unconsolidated operations	7.3		2.3		9.6

Nine months ended August 31, 2020
Net sales	$	2,573.0	$	1,470.4	$	4,043.4
Operating income excluding special charges	560.2		168.4		728.6
Income from unconsolidated operations	24.7		5.5		30.2

Nine months ended August 31, 2019
Net sales	$	2,303.2	$	1,559.4	$	3,862.6
Operating income excluding special charges	449.6		225.8		675.4
Income from unconsolidated operations	22.7		6.5		29.2

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

A reconciliation of operating income excluding special charges to operating income is as follows (in millions):


	Consumer		Flavor Solutions		Total
Three months ended August 31, 2020
Operating income excluding special charges	$	209.0	$	64.1	$	273.1
Less: Special charges	—		0.1		0.1

Operating income	$	209.0	$	64.0	$	273.0

Three months ended August 31, 2019
Operating income excluding special charges	$	176.5	$	84.7	$	261.2

Less: Special charges	4.6		3.1		7.7
Operating income	$	171.9	$	81.6	$	253.5

Nine months ended August 31, 2020
Operating income excluding special charges	$	560.2	$	168.4	$	728.6
Less: Special charges	3.1		0.9		4.0
Operating income	$	557.1	$	167.5	$	724.6

Nine months ended August 31, 2019
Operating income excluding special charges	$	449.6	$	225.8	$	675.4
Less: Special charges	11.0		5.9		16.9
Operating income	$	438.6	$	219.9	$	658.5

Schedule of Disclosure on Geographic Areas

The following table sets forth our net sales, by geographic area, for the three and nine months ended August 31, 2020 and 2019 (in millions):


	Americas		EMEA		Asia/Pacific		Total

Three months ended August 31, 2020	$	1,010.5	$	262.7	$	157.1	$	1,430.3
Three months ended August 31, 2019	931.3		234.5		163.4		1,329.2

Nine months ended August 31, 2020	2,855.5		756.7		431.2		4,043.4
Nine months ended August 31, 2019	2,634.4		726.7		501.5		3,862.6

Accounting Policies - Additional Information (Details) $ in Millions	9 Months Ended
	Aug. 31, 2019 USD ($)
Accounting Policies [Abstract]
Capitalized Computer Software, Period Increase (Decrease)	$ 59.8

Accounting Policies - Adjustments for Adoption in Accounting Policies (Details) - USD ($) $ in Millions	Aug. 31, 2020	Dec. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Finance lease ROU assets	$ 124.3
Total lease liabilities	$ 134.6
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Finance lease ROU assets		$ 136.5
Total lease liabilities		$ 140.0

Special Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Special Charges (Details) - USD ($) $ in Millions	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019
Special Charges [Line Items]
Special charges	$ 0.1	$ 7.7	$ 4.0	$ 16.9
Consumer
Special Charges [Line Items]
Special charges	0.0	4.6	3.1	11.0
Flavor Solutions
Special Charges [Line Items]
Special charges	0.1	3.1	0.9	5.9
Employee Severance Charges [Member]
Special Charges [Line Items]
Special charges	0.0	1.1	2.2	5.1
Other exit costs [Member]
Special Charges [Line Items]
Special charges	0.1	6.6	1.8	11.8
GE_Project [Member]
Special Charges [Line Items]
Special charges		6.0	1.1	12.2
Severance Costs		0.3	0.3	2.0
Other Restructuring Costs		0.2	0.3	1.3
Business Exit Costs		5.5	0.5	8.9
Special Charges cash paid			38.3
GE_Project [Member] \| Minimum [Member]
Special Charges [Line Items]
Special charges			60.0
GE_Project [Member] \| Maximum [Member]
Special Charges [Line Items]
Special charges			65.0
total special charges [Member]
Special Charges [Line Items]
Special charges	0.1	7.7	4.0	16.9
total special charges [Member] \| Consumer
Special Charges [Line Items]
Special charges	0.0	4.6	3.1	11.0
total special charges [Member] \| Flavor Solutions
Special Charges [Line Items]
Special charges	$ 0.1	3.1	0.9	5.9
EMEA [Member]
Special Charges [Line Items]
Special charges			$ 2.9
Severance Costs		$ 1.3		1.9
Americas [Member]
Special Charges [Line Items]
Severance Costs				$ 2.3

Financial Arrangements and Financial Instruments - Additional Information (Details)	3 Months Ended		9 Months Ended
	Aug. 31, 2020 USD ($)	Aug. 31, 2019 USD ($)	Aug. 31, 2020 USD ($)	Aug. 31, 2019 USD ($)	Aug. 31, 2020 GBP (£)	Aug. 31, 2020 EUR (€)	Nov. 30, 2019 USD ($)
Debt Instrument [Line Items]
Investment Foreign Currency, Contract, Foreign Currency Amount	$ 363,400,000		$ 363,400,000				$ 489,200,000
Total derivative assets, Fair Value	63,700,000	$ 44,400,000	$ 63,700,000	$ 44,400,000			$ 27,400,000
Maximum time frame for foreign exchange contracts, months			18 months
Amount of accumulated other comprehensive income expected to be reclassified to earnings in next 12 months	1,300,000		$ 1,300,000
Special charges	100,000	7,700,000	4,000,000.0	16,900,000
Long-term debt borrowings			506,400,000	0
Short-term Contract with Customer [Member]
Debt Instrument [Line Items]
Investment Foreign Currency, Contract, Foreign Currency Amount	107,000,000.0		107,000,000.0
Fair Value Hedging \| Foreign exchange contracts
Debt Instrument [Line Items]
Derivative, Notional Amount	291,000,000.0		291,000,000.0
Net Investment Hedging \| Cross currency contracts
Debt Instrument [Line Items]
Derivative, Notional Amount	250,000,000		250,000,000
Total derivative assets, Fair Value	250,000,000		250,000,000
Derivative, Collateral, Obligation to Return Cash \| £					£ 194,100,000
Net Investment Hedging \| Cross currency contract II
Debt Instrument [Line Items]
Derivative, Notional Amount \| £					194,100,000
Total derivative assets, Fair Value \| £					£ 194,100,000
Derivative, Collateral, Obligation to Return Cash \| €						€ 221,800,000
Other Income \| Fair Value Hedging \| Foreign exchange contracts
Debt Instrument [Line Items]
Foreign Currency Transaction Gain (Loss), Realized	(7,600,000)	(5,300,000)	(4,100,000)	(2,600,000)
Other Income \| Fair Value Hedging \| Loans Payable
Debt Instrument [Line Items]
Foreign Currency Transaction Gain (Loss), Realized	7,300,000	5,200,000	3,100,000	2,000,000.0
Interest Rate Swap \| Treasury Lock [Member]
Debt Instrument [Line Items]
Derivative, Notional Amount	350,000,000		350,000,000
Term Loan Due Two Thousand Twenty Two [Member]
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment, Principal			56,300,000	56,300,000
Debt Instrument, Annual Principal Payment	$ 250.0	106,300,000	$ 250.0	106,300,000
Three Point Two Five Zero Notes Due On Two Thousand Twenty Five [Member]
Debt Instrument [Line Items]
Stated Note interest rate	3.25%		3.25%		3.25%	3.25%
Three Point Two Five Zero Notes Due On Two Thousand Twenty Five [Member] \| Interest Rate Swap \| Treasury Lock [Member]
Debt Instrument [Line Items]
Derivative, Notional Amount	$ 100,000,000		$ 100,000,000
Derivative, Fixed Interest Rate	3.25%		3.25%		3.25%	3.25%
Derivative, Basis Spread on Variable Rate	1.22%		1.22%		1.22%	1.22%
Three Point Two Five Zero Notes Due On Two Thousand Twenty Five [Member] \| Interest Rate Swap 3.25% \| Treasury Lock [Member]
Debt Instrument [Line Items]
Derivative, Notional Amount	$ 100,000,000		$ 100,000,000
Notes Payable	$ 250,000,000		$ 250,000,000
Three Point Four Zero Notes Due Two Thousand Twenty Seven [Member]
Debt Instrument [Line Items]
Stated Note interest rate	3.40%		3.40%		3.40%	3.40%
Three Point Four Zero Notes Due Two Thousand Twenty Seven [Member] \| Interest Rate Swap \| Treasury Lock [Member]
Debt Instrument [Line Items]
Derivative, Notional Amount	$ 250,000,000		$ 250,000,000
Notes Payable	750,000,000		750,000,000
Three Point Four Zero Notes Due Two Thousand Twenty Seven [Member] \| Interest Rate Swap 3.40% \| Treasury Lock [Member]
Debt Instrument [Line Items]
Derivative, Notional Amount	$ 250,000,000		$ 250,000,000
Derivative, Fixed Interest Rate	3.40%		3.40%		3.40%	3.40%
Derivative, Basis Spread on Variable Rate	0.685%		0.685%		0.685%	0.685%
Term Loan Due 2020 [Member]
Debt Instrument [Line Items]
Debt Instrument, Annual Principal Payment		$ 100,000,000.0		$ 100,000,000.0
2.5% Notes due April 2030 [Member]
Debt Instrument [Line Items]
Notes Payable	$ 500,000,000.0		$ 500,000,000.0
Long-term debt borrowings			$ 495,000,000.0
United States LIBOR \| Net Investment Hedging \| Cross currency contracts
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	0.685%		0.685%		0.685%	0.685%
Great Britain LIBOR \| Net Investment Hedging \| Cross currency contracts
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	0.74%		0.74%		0.74%	0.74%
Great Britain LIBOR \| Net Investment Hedging \| Cross currency contract II
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	0.74%		0.74%		0.74%	0.74%
EURIBOR \| Net Investment Hedging \| Cross currency contract II
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	0.808%		0.808%		0.808%	0.808%

Financial Arrangements and Financial Instruments - Fair Value of Derivative Instruments on Balance Sheet (Detail) - USD ($) $ in Millions	Aug. 31, 2020	Nov. 30, 2019	Aug. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative assets, Fair Value	$ 63.7	$ 27.4	$ 44.4
Total derivative liabilities, Fair Value	40.6	3.6	18.0
Interest rate contracts \| Other current assets / Other long-term assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate contracts, Fair Value			28.2
Derivative Asset, Notional Amount		350.0	350.0
Interest rate contracts \| Other accrued liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate contracts, Fair Value	0.0
Notes subject to interest rate hedge	0.0	0.0	0.0
Interest rate contracts \| Other Long-term Investments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate contracts, Fair Value		20.9
Derivative Asset, Notional Amount	350.0
Foreign exchange contracts \| Other current assets / Other long-term assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset, Notional Amount	156.5	293.1	104.7
Foreign exchange contracts \| Other accrued liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes subject to interest rate hedge	206.9	196.1	350.6
Cross currency contracts \| Other accrued liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes subject to interest rate hedge	524.5	0.0	243.9
Cross currency contracts \| Other Long-term Investments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset, Notional Amount	$ 0.0	495.5	236.4
Three Point Two Five Zero Notes Due On Two Thousand Twenty Five [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated Note interest rate	3.25%
Three Point Two Five Zero Notes Due On Two Thousand Twenty Five [Member] \| Interest Rate Swap \| Treasury Lock [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative, Basis Spread on Variable Rate	1.22%
Derivative, Fixed Interest Rate	3.25%
Three Point Two Five Zero Notes Due On Two Thousand Twenty Five [Member] \| Interest Rate Swap 3.25% \| Treasury Lock [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable	$ 250.0
Three Point Four Zero Notes Due Two Thousand Twenty Seven [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated Note interest rate	3.40%
Three Point Four Zero Notes Due Two Thousand Twenty Seven [Member] \| Interest Rate Swap \| Treasury Lock [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable	$ 750.0
Three Point Four Zero Notes Due Two Thousand Twenty Seven [Member] \| Interest Rate Swap 3.40% \| Treasury Lock [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative, Basis Spread on Variable Rate	0.685%
Derivative, Fixed Interest Rate	3.40%
Fair Value, Measurements, Recurring [Member] \| Interest rate contracts \| Other accrued liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate contracts, Fair Value		0.0	0.0
Fair Value, Measurements, Recurring [Member] \| Interest rate contracts \| Other Long-term Investments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate contracts, Fair Value	$ 45.6
Fair Value, Measurements, Recurring [Member] \| Foreign exchange contracts \| Other current assets / Other long-term assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Fair Value Hedge Derivative at Fair Value, Net	18.1	3.3	2.2
Fair Value, Measurements, Recurring [Member] \| Foreign exchange contracts \| Other accrued liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Fair Value Hedge Derivative at Fair Value, Net	21.3	3.6	4.6
Fair Value, Measurements, Recurring [Member] \| Cross currency contracts \| Liability [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign Currency Fair Value Hedge Derivative at Fair Value, Net		0.0	13.4
Cross currency contracts	19.3		13.4
Fair Value, Measurements, Recurring [Member] \| Cross currency contracts \| Assets [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cross currency contracts	$ 0.0	$ 3.2	$ 14.0

Financial Arrangements and Financial Instruments - Impact of Fair Value Hedges on Other Comprehensive Income, Accumulated Other Comprehensive Income and Income Statement (Details) - Fair Value Hedging - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019
Interest Expense \| Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Interest income (expense)	$ 1.8	$ 0.0	$ 3.2	$ (0.3)
Other Income \| Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Foreign Currency Transaction Gain (Loss), Realized	(7.6)	(5.3)	(4.1)	(2.6)
Other Income \| Loans Payable
Derivative Instruments, Gain (Loss) [Line Items]
Foreign Currency Transaction Gain (Loss), Realized	$ 7.3	$ 5.2	$ 3.1	$ 2.0

Financial Arrangements and Financial Instruments - Impact of Cash Flow Hedges on Other Comprehensive Income, Accumulated Other Comprehensive Income and Income Statement (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019
Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) recognized in OCI	$ (0.6)	$ (0.3)	$ 2.3	$ 0.3
Gain or (Loss) reclassified from AOCI	1.3	0.7	1.6	1.3
Cash Flow Hedging \| Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) recognized in OCI	0.0	0.0	0.0	0.0
Cash Flow Hedging \| Interest rate contracts \| Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) reclassified from AOCI	0.2	0.2	0.4	0.4
Cash Flow Hedging \| Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) recognized in OCI	(0.6)	(0.3)	2.3	0.3
Cash Flow Hedging \| Foreign exchange contracts \| Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) reclassified from AOCI	1.1	0.5	1.2	0.9
Net Investment Hedging \| Cross currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) recognized in OCI	(17.4)	3.0	(20.7)	0.3
Net Investment Hedging \| Cross currency contracts \| Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) reclassified from AOCI	$ 0.3	$ 1.7	$ 2.7	$ 3.8

Leases - Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Aug. 31, 2020	Aug. 31, 2020
Leases [Abstract]
Operating lease cost	$ 9.7	$ 30.3
Amortization of ROU assets	2.2	6.7
Interest on lease liabilities	1.1	3.4
Net lease cost	$ 13.0	$ 40.4

Leases - Supplemental Information - (Details) $ in Millions	Aug. 31, 2020 USD ($)
Leases [Abstract]
Operating lease ROU assets	$ 121.3
Finance lease ROU assets	124.3
Total leased assets	245.6
Current operating lease liabilities	33.6
Current finance lease liabilities	7.3
Noncurrent operating lease liabilities	91.4
Noncurrent finance lease liabilities	127.3
Total lease liabilities	$ 259.6
Operating leases, weighted-average remaining lease term (years)	5 years 8 months 12 days
Operating leases, weighted-average discount rate (percent)	2.10%
Finance leases, weighted-average remaining lease term (years)	14 years 3 months 18 days
Finance leases, weighted-average discount rate (percent)	3.30%

Leases - Maturities (Details) $ in Millions	Aug. 31, 2020 USD ($)
Leases, Operating [Abstract]
2020 (remainder of year)	$ 9.6
2021	33.9
2021	25.5
2023	18.1
2024	11.3
Thereafter	34.1
Total lease payments	132.5
Less: Imputed interest	7.5
Total lease liabilities	125.0
Lessee, Finance Lease, Description [Abstract]
2020 (remainder of year)	2.8
2021	11.4
2022	11.4
2023	11.4
2024	11.5
Thereafter	125.9
Total lease payments	174.4
Less: Imputed interest	39.8
Total lease liabilities	134.6
2020 (remainder of year)	12.4
2021	45.3
2022	36.9
2023	29.5
2024	22.8
Thereafter	160.0
Total lease payments	306.9
Less: Imputed interest	47.3
Total lease liabilities	$ 259.6

Leases - Supplemental Cash Flow Information (Details) $ in Millions	9 Months Ended
	Aug. 31, 2020 USD ($)
Leases [Abstract]
Operating cash flows used for operating leases	$ 30.4
Operating cash flows used for finance leases	3.4
Financing cash flows used for finance leases	5.1
ROU assets obtained in exchange for lease liabilities	$ 8.7

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Aug. 31, 2020	Nov. 30, 2019	Aug. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents at fair value	$ 221.0	$ 155.4	$ 162.9
Long-term debt	4,001.2	3,723.5	3,962.4
Long-term debt, fair value	4,339.3	3,859.0	4,153.7
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	4,162.9	3,437.5	3,475.0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	176.4	421.5	678.7
Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Cash and cash equivalents		155.4	162.9
Insurance contracts	120.8	121.7	117.2
Bonds and other long-term investments	5.6	2.7	4.3
Assets, Fair Value Disclosure	411.1	307.2	328.8
Liabilities [Abstract]
Total	40.6	3.6	18.0
Fair Value, Measurements, Recurring [Member] \| Level 1
Assets [Abstract]
Cash and cash equivalents	221.0	155.4	162.9
Insurance contracts	0.0	0.0	0.0
Bonds and other long-term investments	5.6	2.7	4.3
Interest Rate Derivative Assets, at Fair Value	0.0
Foreign currency derivatives	0.0	0.0	0.0
Assets, Fair Value Disclosure	226.6	158.1	167.2
Liabilities [Abstract]
Foreign currency derivatives	0.0	0.0	0.0
Interest rate derivatives	0.0
Total	0.0	0.0	0.0
Fair Value, Measurements, Recurring [Member] \| Level 2
Assets [Abstract]
Cash and cash equivalents	0.0	0.0	0.0
Insurance contracts	120.8	121.7	117.2
Bonds and other long-term investments	0.0	0.0	0.0
Interest Rate Derivative Assets, at Fair Value	45.6	20.9	28.2
Foreign currency derivatives	18.1	3.3	2.2
Assets, Fair Value Disclosure	184.5	149.1	161.6
Liabilities [Abstract]
Foreign currency derivatives	21.3	3.6	4.6
Cross currency contracts	19.3		13.4
Total	40.6	3.6	18.0
Assets [Member] \| Fair Value, Measurements, Recurring [Member] \| Level 2
Liabilities [Abstract]
Cross currency contracts		3.2	14.0
Interest rate contracts \| Other current assets / Other long-term assets
Assets [Abstract]
Interest rate contracts, Fair Value			28.2
Interest rate contracts \| Other accrued liabilities
Assets [Abstract]
Interest rate contracts, Fair Value	0.0
Interest rate contracts \| Other accrued liabilities \| Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Interest rate contracts, Fair Value		0.0	0.0
Foreign exchange contracts \| Other current assets / Other long-term assets \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Fair Value Hedge Derivative at Fair Value, Net	18.1	3.3	2.2
Foreign exchange contracts \| Other accrued liabilities \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Fair Value Hedge Derivative at Fair Value, Net	21.3	3.6	4.6
Cross currency contracts \| Assets [Member] \| Fair Value, Measurements, Recurring [Member]
Liabilities [Abstract]
Cross currency contracts	0.0	3.2	14.0
Cross currency contracts \| Liability [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Fair Value Hedge Derivative at Fair Value, Net		$ 0.0	13.4
Liabilities [Abstract]
Cross currency contracts	$ 19.3		$ 13.4

Employee Benefit And Retirement Plans - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Nov. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Other income, net	$ 3.9	$ 6.9	$ 12.5	$ 19.3
Payment for Pension Benefits			9.3	8.9	$ 11.4
Pension and other postretirement costs	231.7	119.7	231.7	119.7	$ 234.0
Accounting Standards Update 2017-07 [Member]
Defined Benefit Plan Disclosure [Line Items]
Other income, net	$ (1.9)	$ (4.3)	$ (7.1)	$ (13.1)

Employee Benefit And Retirement Plans - Components of Pension Expense of Defined benefit plans (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Other income, net	$ 3.9	$ 6.9	$ 12.5	$ 19.3
Domestic Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.8	0.5	2.4	1.5
Interest costs	7.3	8.6	22.0	25.8
Expected return on plan assets	(10.2)	(10.6)	(30.5)	(31.8)
Amortization of prior service costs	0.2	0.1	0.4	0.3
Recognized net actuarial loss	2.0	0.6	5.9	1.8
Total pension expense	0.1	(0.8)	0.2	(2.4)
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.2	0.9	0.7	2.7
Interest costs	1.9	2.3	5.6	7.1
Expected return on plan assets	(3.7)	(4.0)	(11.2)	(12.3)
Amortization of prior service costs	0.1	0.0	0.1	0.1
Recognized net actuarial loss	0.5	0.3	1.5	0.9
Total pension expense	(0.3)	(0.5)	(2.1)	(1.5)
Defined Benefit Plan, Benefit Obligation, Payment for Settlement	0.7		1.2
Accounting Standards Update 2017-07 [Member]
Defined Benefit Plan Disclosure [Line Items]
Other income, net	$ (1.9)	$ (4.3)	$ (7.1)	$ (13.1)

Employee Benefit and Retirement Plans - Components of Other Postretirement Benefit Expenses (Details) - Other Postretirement Benefit Plan - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 0.5	$ 0.5	$ 1.4	$ 1.5
Interest costs	0.5	0.7	1.5	2.0
Amortization of prior service costs	(1.2)	(2.2)	(3.5)	(6.5)
Defined Benefit Plan, Amortization of Gain (Loss)	0.0	0.1	0.1	0.5
Total other postretirement expense	$ (0.2)	$ (1.1)	$ (0.7)	$ (3.5)

Stock-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Millions	9 Months Ended
	Aug. 31, 2020 USD ($) award_type $ / shares	Aug. 31, 2019 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock-based compensation award types \| award_type	3
Intrinsic value for all options outstanding	$ 225.5
Intrinsic value for exercisable options	180.2
Total Intrinsic Value of all options exercised	$ 65.3	$ 102.8
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value \| $ / shares	$ 26.53	$ 27.51

Stock-Based Compensation - Selling, General and Administrative Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019
Share-based Payment Arrangement, Noncash Expense [Abstract]
Total stock-based compensation expense	$ 10.7	$ 7.8	$ 37.8	$ 30.6

Stock-Based Compensation - Range of Assumptions for Various Stock Compensation Plans (Details)	9 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	0.00%	2.20%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum	0.60%	2.50%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	1.80%	1.50%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	22.80%	17.40%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	7 years 10 months 24 days	7 years 6 months

Stock-Based Compensation - Summary of Stock Option Activity (Details) - Stock Options - $ / shares shares in Millions	9 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of period, Number of Shares	2.6	3.6
Exercised, Number of Shares	0.7	1.2
Outstanding at end of period, Number of Shares	2.3	2.7
Excercisable at end of the period, Number of Shares	1.6	2.0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding at beginning of period, Weighted-Average Exercise Price	$ 96.18	$ 82.60
Exercised, Weighted-Average Exercise Price	81.88	70.78
Outstanding at end of period, Weighted-Average Exercise Price	106.88	95.50
Exercisable at end of the period, Weighted-Average Exercise Price	95.33	86.08
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 138.62	$ 147.39
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	0.4	0.3

Stock-Based Compensation - Summary of Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) - $ / shares shares in Thousands	9 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of period, Number of Shares	381	423
Granted, Number of Shares	148	129
Vested, Number of Shares	(137)	(134)
Forfeited, Number of Shares	(7)	(9)
Outstanding at end of period, Number of Shares	385	409
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding at beginning of period, Weighted-Average Grant-Date Fair Value	$ 115.89	$ 103.05
Granted, Weighted-Average Grant-Date Fair Value	134.06	143.15
Vested, Weighted-Average Grant-Date Fair Value	109.97	96.74
Forfeited, Weighted-Average Grant-Date Fair Value	124.30	112.10
Outstanding at end of period, Weighted-Average Grant-Date Fair Value	$ 124.82	$ 117.51

Stock-Based Compensation - Summary of LTPP awards (Details) - Performance Shares - $ / shares shares in Thousands	9 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of period, Number of Shares	196	218
Granted, Number of Shares	65	102
Vested, Number of Shares	(44)	(57)
Forfeited, Number of Shares	(3)	0
Outstanding at end of period, Number of Shares	214	263
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding at beginning of period, Weighted-Average Grant-Date Fair Value	$ 115.96	$ 83.55
Granted, Weighted-Average Grant-Date Fair Value	172.28	150.51
Vested, Weighted-Average Grant-Date Fair Value	89.96	86.40
Forfeited, Weighted-Average Grant-Date Fair Value	127.46	0
Outstanding at end of period, Weighted-Average Grant-Date Fair Value	$ 138.26	$ 117.14

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019
Income Tax Examination [Line Items]
Effective income tax rate reconciliation, tax credit, amount	$ 13.2	$ 15.5	$ 40.1	$ 44.4
Effective income tax rate reconciliation, change in deferred tax assets valuation allowance, amount			9.3
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	2.1	2.4	5.5	2.6
Effective Income Tax Rate Reconciliation, Disposition of Asset, Amount			9.9	16.2
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount		2.5	1.1	2.1
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions	2.0	2.3	2.0	2.3
Tax Cuts and Jobs Act, Income Tax Expense (Benefit)		1.5		1.5
Domestic Tax Authority
Income Tax Examination [Line Items]
Shares issued, tax benefit	$ 7.3	$ 8.3	$ 13.0	$ 21.2

Earnings Per Share and Stock Issuances - Additional Information (Details) - November 2019 [Member] $ in Millions	Aug. 31, 2020 USD ($)
Class of Stock [Line Items]
Stock repurchase program, remaining authorized repurchase amount	$ 586.0
Stock repurchase program, authorized amount	$ 600.0

Earnings Per Share and Stock Issuances - Reconciliation of Average Shares Outstanding (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019
Earnings Per Share, Basic and Diluted [Abstract]
Average shares outstanding - basic (shares)	133.3	132.8	133.1	132.5
Effect of dilutive securities: [Abstract]
Stock options/Restricted Stock Units (RSUs)/MTIP	1.5	1.4	1.4	1.5
Average shares outstanding-diluted	134.8	134.2	134.5	134.0

Earnings Per Share and Stock Issuances - Antidilutive Securities not Considered in Earnings Per Share Calculation (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019
Earnings Per Share, Basic and Diluted [Abstract]
Anti-dilutive securities	0.0	0.2	0.1	0.1

Earnings Per Share and Stock Issuances - Common Stock Activity (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019
Stock Options And Restricted Stock Units
Employee Stock Purchase Plan [Line Items]
Shares issued under stock options, RSUs, LTPP and employee stock purchase plans	0.3	0.5	0.8	1.4
Share Repurchase Program
Employee Stock Purchase Plan [Line Items]
Shares repurchased under the stock repurchase program and shares withheld for taxes under stock options, RSUs, LTPP and employee stock purchase programs	0.1	0.1	0.3	0.6

Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income, Net of Tax (Details) - USD ($)

3 Months Ended

9 Months Ended

Aug. 31, 2020

Aug. 31, 2019

Aug. 31, 2020

Aug. 31, 2019

Nov. 30, 2019

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

Foreign currency translation adjustment (1)

$ (198,500,000)

$ (308,200,000)

$ (198,500,000)

$ (308,200,000)

$ (266,500,000)

Unrealized gain (loss) on foreign currency exchange contracts

300,000

(800,000)

300,000

(800,000)

Unamortized value of settled interest rate swaps

400,000

300,000

Pension and other postretirement costs

(231,700,000)

(119,700,000)

(231,700,000)

(119,700,000)

(234,000,000.0)

Accumulated other comprehensive loss

(429,900,000)

(428,300,000)

(429,900,000)

(428,300,000)

(500,200,000)

Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]

Reclassification adjustment from AOCI on derivatives, before tax

(1,300,000)

(700,000)

(1,600,000)

(1,300,000)

Reclassification adjustment from AOCI on derivatives, tax

300,000

100,000

400,000

300,000

Reclassification adjustment from AOCI on derivatives, net of tax

(1,000,000.0)

(600,000)

(1,200,000)

(1,000,000.0)

Amortization adjustment from AOCI, pension and other postretirement benefit plans, for net prior service cost (credit), before tax

^[1]

(900,000)

(2,100,000)

(3,000,000.0)

(6,100,000)

Reclassification adjustment from AOCI, pension and other postretirement benefit plans, for net gain (loss), before tax

^[1]

3,200,000

800,000

8,500,000

2,200,000

Reclassification adjustment from AOCI, pension and other postretirement benefit plans, before tax

2,300,000

(1,300,000)

5,500,000

(3,900,000)

Reclassification adjustment from AOCI, pension and other postretirement benefit plans, for net (gain) loss, tax

(600,000)

300,000

(1,300,000)

900,000

Reclassification adjustment from AOCI, pension and other postretirement benefit plans, for net (gain) loss, net of tax

1,700,000

(1,000,000.0)

4,200,000

(3,000,000.0)

Other Comprehensive Income, Other, Net of Tax

68,000,000.0

Foreign currency translation adjustment (1)

(198,500,000)

(308,200,000)

(198,500,000)

(308,200,000)

$ (266,500,000)

Interest rate contracts | Cash Flow Hedging | Interest Expense

Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]

Reclassification adjustment from AOCI on derivatives, before tax

(200,000)

(400,000)

Foreign exchange contracts | Cash Flow Hedging | Cost of Sales

Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]

Reclassification adjustment from AOCI on derivatives, before tax

(1,100,000)

$ (500,000)

(1,200,000)

$ (900,000)

Cross currency contracts

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

Foreign currency translation adjustment (1)

20,700,000

Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]

Foreign currency translation adjustment (1)

$ 20,700,000

[1]	This accumulated other comprehensive income (loss) component, including settlement losses, is included in the computation of total pension expense and other postretirement benefits expense (refer to note 6 for additional details).

Business Segments - Additional Information (Detail) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2020 USD ($)	Aug. 31, 2019 USD ($)	Aug. 31, 2020 USD ($) segment	Aug. 31, 2019 USD ($)
Revenues	$ 1,430.3	$ 1,329.2	$ 4,043.4	$ 3,862.6
Number of operating segments \| segment			2
Europe Middle East And Africa [Member]
Revenues	262.7	234.5	$ 756.7	726.7
Asia Pacific [Member]
Revenues	157.1	163.4	431.2	501.5
Americas [Member]
Revenues	$ 1,010.5	$ 931.3	$ 2,855.5	$ 2,634.4

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

+ Details

Business Segments (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Business Segments (Detail) - USD ($) $ in Millions	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019
Segment Reporting Information [Line Items]
Revenues	$ 1,430.3	$ 1,329.2	$ 4,043.4	$ 3,862.6
Operating income	273.0	253.5	724.6	658.5
Less: Special charges	0.1	7.7	4.0	16.9
Operating income excluding special charges	273.1	261.2	728.6	675.4
Income from unconsolidated operations	9.6	9.6	30.2	29.2
Consumer
Segment Reporting Information [Line Items]
Revenues	910.9	794.2	2,573.0	2,303.2
Operating income	209.0	171.9	557.1	438.6
Less: Special charges	0.0	4.6	3.1	11.0
Operating income excluding special charges	209.0	176.5	560.2	449.6
Income from unconsolidated operations	8.5	7.3	24.7	22.7
Flavor Solutions
Segment Reporting Information [Line Items]
Revenues	519.4	535.0	1,470.4	1,559.4
Operating income	64.0	81.6	167.5	219.9
Less: Special charges	0.1	3.1	0.9	5.9
Operating income excluding special charges	64.1	84.7	168.4	225.8
Income from unconsolidated operations	1.1	2.3	5.5	6.5
Americas [Member]
Segment Reporting Information [Line Items]
Revenues	1,010.5	931.3	2,855.5	2,634.4
Europe Middle East And Africa [Member]
Segment Reporting Information [Line Items]
Revenues	262.7	234.5	756.7	726.7
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	$ 157.1	$ 163.4	$ 431.2	$ 501.5